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Lusan's trade Journal

  • #341
  • Jan 15, 2009 10:04am Jan 15, 2009 10:04am
Lusan,

I can see your scout in some time was 150 pips loss or away roughly with two position of total of 6 troops...... anywhere u had mind to do a flip or u would have just booked a loss if the EU just went up lets say till 3390 for e.g.

V
  • #342
  • Jan 15, 2009 10:27am Jan 15, 2009 10:27am
Quoting indianguyinny24
Lusan,

I can see your scout in some time was 150 pips loss or away roughly with two position of total of 6 troops...... anywhere u had mind to do a flip or u would have just booked a loss if the EU just went up lets say till 3390 for e.g.

V
This is a personal decision...
If scout is losing...I watch 15M and 1H...if I see a new trend, I conclude that I am wrong and I switch....Otherwise, I wait for a guessed top and I rescue...I keep reevaluating the situation during the full session...a good guidance is to go with the previous impulse...

If a crazy impulse comes against me...I inmediately flip....No hesitation...

I am not afraid of 150 pips scout in the red as long as I am not trading against and impulse...I mean; on the red on congestion is fine...on the red on an impulse is stupid.

there are not fix rules...the market is totally unpredictable...you have to choose your way to deal with its unpredictablity...However, if you check 5M and 15M you will see that if you are not against 1D, PA will ALWAYS turn around...PA cannot keep going in a single direction forever...the problem is that I could get tired and impatient...If you can hold it and wait, then you will find a way...

I choose not go for big profit but work ONLY on consistency...currently I feel that I could be 1 and 2 waves against me without affecting much my mindset...after that I probably have a lot of stress..
Empty as water and soft as a facing wind mountain
  • #343
  • Jan 15, 2009 10:44am Jan 15, 2009 10:44am
Quoting luSan

I am not afraid of 150 pips scout in the red as long as I am not trading against and impulse...I mean; on the red on congestion is fine...on the red on an impulse is stupid.
I liked this one.. thanks for this will keep in my mindset too...
Quote
there are not fix rules...the market is totally unpredictable...you have to choose your way to deal with its unpredictablity...However, if you check 5M and 15M you will see that if you are not against 1D, PA will ALWAYS turn around...

This is i am agreeing with too.. only thing mindset gets little disturbed when 1D is down i guess u say Bull in your log... 1h is flat 15 min is either way and if you look daily chart then it seems it can go any where....as FTI says there isnot much Vega ..
Quote


I choose not go for big profit but work ONLY on consistency...currently I feel that I could be 1 and 2 waves against me without affecting much my mindset...after that I probably have a lot of stress..

I think i only take 1 wave against me...i guess also it depends how far the wave has take tne previou high or low...

As i am still learning... also waking up is challenge 3.30 everyday... how did u coped it as some time my battles are gone till 7.00 and it effect job...

V
  • #344
  • Jan 15, 2009 10:56am Jan 15, 2009 10:56am
Quote
also waking up is challenge 3.30 everyday... how did u coped it as some time my battles are gone till 7.00 and it effect job...

My past schedule/approach when I had a full time outside job:

  1. Up at 3:00 am
  2. Check last reversal and S/R
  3. Trade with the 5M trend
  4. timing with 1M
  5. Stop everything by 5:00 am or before
  6. Back to bed and up by 7:00 am
  7. Go to work.

To do this, I needed it to be very fast. No time to lose and it seems that 50 pips was the average possible pips. Only one leg of the lady are tradable when your time is limited and you must be with the correct leg. Check my earlier post. You will see many examples.

Empty as water and soft as a facing wind mountain
  • #345
  • Jan 18, 2009 7:47am Jan 18, 2009 7:47am
Hello,

This system is veary intresting,
can you post some link to this system explayned or do you have some pdf or something
Thank you!!!
Wish you many pips!
"Even a million miles journey starts with one single step"
  • #346
  • Jan 18, 2009 10:17am Jan 18, 2009 10:17am
sure...

Go here

http://www.forexfactory.com/showthread.php?t=57639

and

http://www.forexfactory.com/showthread.php?t=104773


Good luck
Empty as water and soft as a facing wind mountain
  • #347
  • Jan 19, 2009 9:57am Jan 19, 2009 9:57am
hey lusan , just checking around ...
i saw last few trades u posted ...
u ve taken 150 pips without scaling in much ... ur max troops were 6 ...
wats wrong ?
To Live is the rarest thing in the world , Most people exist , that is all
  • #348
  • Jan 19, 2009 10:12am Jan 19, 2009 10:12am
Quoting maheswara
hey lusan , just checking around ...
i saw last few trades u posted ...
u ve taken 150 pips without scaling in much ... ur max troops were 6 ...
wats wrong ?
Nothing is wrong...just a more relaxed scaling in approach...Trying to reduce my skew entries to 1-2-3-5 and no more unless I have an emergency and then I must be on a retracement.

Current thought is NOT to maximize pips/dance but $/dance consistently and safely...so I must reducde the max number of exposed troops...6 is plenty...

I noted that If I have 1st and 2nd wave out...and PA goes against 1D then if I slow down and wait until it reaches a consolidation or exhaustion moment for the 3rd wave...then it is easy for my mindset...I could allow 1 wave to deeply bleed...2nd wave could nice bleed and 3rd waves rescue everyone...and somewhat relaxed.

I noticed mindset disturbance when I move into 5-8 so...max exposure to 6 and the rest for damage control if needed...this affect my profitability but I should be able to manage with my sizing...

How is profitability impacted? ...because then more pips will not happen...probably 120 pips/dance...so larger sizes will be used...actually that was my initial thought prior to fti..."I would be happy with 50 pips/dance at lot size=$500/day."...Scary..

Edit: but never if and impulse is happening...if scout out...then never rescue...either revert or let it bleed...depending on my mood...the point is to take profit as soon as possible and minimize the moement where all 3 waves are deployed...
Empty as water and soft as a facing wind mountain
  • #349
  • Jan 19, 2009 10:26am Jan 19, 2009 10:26am
Quoting luSan
Nothing is wrong...just a more relaxed scaling in approach...Trying to reduce my skew entries to 1-2-3-5 and no more unless I have an emergency and then I must be on a retracement.

Current thought is NOT to maximize pips/dance but $/dance consistently and safely...so I must reducde the max number of exposed troops...6 is plenty...

I noted that If I have 1st and 2nd wave out...and PA goes against 1D then if I slow down and wait until it reaches a consolidation or exhaustion moment for the 3rd wave...then it is easy for my mindset...I could allow...
allright,
you shouldnt be having all in rules u know ...
its okay to take more risk ,more skews ...
fti sir once said, greater trader is one who takes 20% of the swing and makes 100% ROI instead of the other way around ...
if sudden impulses in the wrong side , u can scale out , take some loss ... as long as ur profit is huge , small losses allrite then
dont think too much about profit ...just become super trader , profit will come
good luck to u lusan
To Live is the rarest thing in the world , Most people exist , that is all
  • #350
  • Jan 19, 2009 10:40am Jan 19, 2009 10:40am
Quoting maheswara
allright,
you shouldnt be having all in rules u know ...
These are not rules...I am just more patient. I will post my few rules in my next post.

Quote
its okay to take more risk ,more skews ...
>>>I already did the high risky thing and I do not like it.

Quote
fti sir once said, greater trader is one who takes 20% of the swing and makes 100% ROI instead of the other way around ...
>>>That is my thing indeed

Quote
if sudden impulses in the wrong side , u can scale out , take some...
However, I do not remember the definition of impulse...That is something to look into...Sometimes I am wrong sometimes I am right...so far so good.

Mahe, maybe I did not explain clearly
Empty as water and soft as a facing wind mountain
  • #351
  • Jan 19, 2009 10:49am Jan 19, 2009 10:49am
Rules have not changed much...
PA is ruthless. Whenever I broke any of these rules, I visited hell.
All I do, revolve around them.
Maybe I should add something about never forecasting.
Attached Image
Empty as water and soft as a facing wind mountain
  • #352
  • Edited 6:49pm Jan 19, 2009 6:37pm | Edited 6:49pm
This week I reached my first year in Forex trading...

What have I accomplished?

I am happy about it...I met my first and only goal:to survive....I am still alive...I did not ended up with a margin call nor I blew my account....I survived...did I make money? NO! was it important? No!
...my job was to learn and explore this universe.

2009's goal....make some money...any money...that will be enough....

I am not so stupid to believe that I could become trillioner overnight....nope...I believe it will take at least 2 or 3 years to justify Forex as a business... I learned a lot and I know that there is more to learn...I learned that Forex trading is very similar to life...All life is a trading adventure...I have one more year to go...breaking even this year will make me happy...very happy...

Who is my current teacher? Of course, the beautifull, PA....
She always teaches a lesson...
right now, she is saying I am dollar strong...so I am dollar long, so far 150 pips and counting...
maybe tomorrow she will say the opposite...
I just do not know, she changes her mind all the time...
my job is to listen...and to follow her..the beautiful...darn! I love trading...

For those who understand, take or leave it....PA is a real queen!
For those that do not understand...I have nothing to say.
Empty as water and soft as a facing wind mountain
  • #353
  • Jan 20, 2009 9:02am Jan 20, 2009 9:02am
Quoting luSan
This week I reached my first year in Forex trading...

What have I accomplished?

I am happy about it...I met my first and only goal:to survive....I am still alive...I did not ended up with a margin call nor I blew my account....I survived...did I make money? NO! was it important? No!
...my job was to learn and explore this universe.

2009's goal....make some money...any money...that will be enough....

I am not so stupid to believe that I could become trillioner overnight....nope...I believe it will take at least 2 or 3 years to justify Forex...
Congrats to your anniversary, LuSan!
I think your goals for this are very wise.
It takes time to settle in forex business ...

Wish you good fortune!
And always listen to your CEO ;-)
  • #354
  • Jan 21, 2009 12:05am Jan 21, 2009 12:05am
Congraluations on your first year. You have lasted longer than most. I find your journal is a good summary of Fti's teaching. For example, I also use Oanda and use your formula for working out the size of the troops.
All the best for the future. Ray.
  • #355
  • Jan 21, 2009 9:46am Jan 21, 2009 9:46am
Nice and boring day...Left large scout for bow fight.

However I had an interesting thoughts:

1. Dow and E/U are bounded together.
2. Normal range for Dow is -250 to +250
So
Dow position and direction in the range could help Forex timing.
Attached Image
Empty as water and soft as a facing wind mountain
  • #356
  • Jan 21, 2009 9:53am Jan 21, 2009 9:53am
Quoting 1234
Congraluations on your first year. You have lasted longer than most.
Thanks...Yes, I am here to stay and make this second career real...that is why, I am going very s-l-o-w-l-y....My lady teaches only ONE lesson a day.

Quote
I find your journal is a good summary of Fti's teaching. For example, I also use Oanda and use your formula for working out the size of the troops.

Be carefull...I am not a good summary of fti's teaching...I made many adaptations and I keep making changes as I experience Forex...He himself believes that the way I trade is a variance of his ways...I just do not know...Note, today how I left the scout bleed for a long time..someother times, I rescue him quick...all depend on my mood....

Regards,
Empty as water and soft as a facing wind mountain
  • #357
  • Jan 22, 2009 8:34am Jan 22, 2009 8:34am
This is a very nice 4H chart...look at how the waves behaves toward the TL...Even though we had: Obama, unemployment bad numbers, wars, oil and bad sells events...I think I will start looking into 4H from the TL point of view...trading and hold 2% positions with the trend might be interesting...

By the way the momentum is slowing as noted by the crest waves getting closer...I bet we will have a consolidation period.

PS. Sell signal is a demo play left out from yesterday..disregard it.

Enjoy
Attached Image
Empty as water and soft as a facing wind mountain
  • #358
  • Edited 9:44am Jan 22, 2009 9:33am | Edited 9:44am
A little fear showed up in the middle of the session...killed him...and keep going..a solid day...note that big spike...I did not react...mindset very relaxed...felt sorry for the one purchasing euro...also note that my exposure are minimal...so I am able to deal with very bad timing and chaotic dance...5-8-13 skew position could be used but they belong now to the reserved army....People might wander about the "100-150 pips range"...Profit is given by the formula below...

Why do I track pips and not profit?...because it is the best way I know to keep an eye on my trading and dance consistency....If it falls below 100 pips, then I am a coward; if it goes higher than 200 pips, then I am greedy.

Profit($)= (troop size * campaing pips)/10000
10000 is used because, for E/U, 10K units = 1 $/pip
Attached Image (click to enlarge)
Click to Enlarge Name: Jan 22.jpg Size: 62 KB
Empty as water and soft as a facing wind mountain
  • #359
  • Jan 22, 2009 10:20am Jan 22, 2009 10:20am
Quoting luSan
If it falls below 100 pips, then I am a coward; if it goes higher than 200 pips, then I am greedy.
good point.
  • #360
  • Jan 22, 2009 10:30am Jan 22, 2009 10:30am
Lusan,

Looking your chart eveyday has helped me a lot.

Also i think i did same once when i left a scout in bleed and was very relaxed that i know i will get it back when i want and was able to..

I am getting to one Golden rule which you always follow..

Trade if and only if when you have relaxed mind.

Thanks
V
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