Lusan's trade Journal

Quoting indianguyinny24

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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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Quoting piccolo

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good point.

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Quoting luSan

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Thanks...but read the others too...they came about after a lot of pain and plenty of waste dollars...

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Quoting luSan

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Thanks...of course, that is really personal...each one has to find their own range...which probably will depend on their MM/MO.

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Quoting luSan

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I was supposed to enter buy the dollar...but I sold it!

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Quoting piksy

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Are you talking about the +3 long contract in the blue circle? Did you mean to sell and you have bought instaed? Was this your mistake?

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In your trend bias definition you say:

1H - Bullish - South
15M - Bullish - South

Could you please explain that?

Quoting luSan

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You are correct...I wanted to sell 3X but I bought 3X...which forced to close 2X and give a +1X...in the wrong direction!



See the attached chart...Warning: these are just the thoughts I had when I saw the charts...I did not know if was going to go one way of the others...but I thought, "oh well...I think that PA is slowing down and probably turning...even though the prior 1D was a white bar...so...let us go south"...guess work

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Quoting piksy

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Oh, now I get your point: you are looking at it from the USD's point of view: If the USD is looking bullish, EUR/USD pair will go down (south).
I just thought I was missing something.
Thank you
Piksy

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Quoting fti

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There are many ways to trade, and for everyone the decision making process is different.....

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Quoting fti

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Try to feel the market, ask yourself questions all the time.

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Quoting fti

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Look at the chart, ask yourself,
what didi the market do when it was last at this level, historically?
was this levels significant chart wise?
which direction is the market trending?
try to feel if its try to go up or down?

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Quoting fti

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if you have determined the direction, its most likely to go.
if you use indicators, try to determine the nearest safe levels to sttempt entry,
try the super over bought or oversoldlevels.in you bolinger bands.
fabonnacci levels are supposed to show market at its best equilibrium,
when at the fabo levels, whatch the mkt, is it behaving steady?
MACD are just multiple averages and are lag indicator,
intrendy mkts they widen ,
in letagic mkts they close up,
incongestions they spagattie cross.
don't read too much into that.

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Quoting fti

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after entry watch the mkts.
Is it doing what you thought it should be doing?
are you comfortable with the position, if yes then add to the position.
if not get out, find a different level. and do itagain. and again until you are satisfied with your position.

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Quoting fti

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when you are riding pprofits, take some out at the oversold levels to reenter near the overbought levels , vice versa.

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Quoting fti

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Don't watch too many pairs.
focus on majors,
GBP and EUR should move quite in syn. YEN should behave the reverse.
watch those intermarket relationships, if any is not behaving normally ,
then be aware that something is happening in the fundamental front.
try to find out if there;s any special reason from the news releases.

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Quoting fti

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To me the most important indicator is price.
The market's sigma, which is the speed of move.
The Vega, which indicade the volitility factor in its trend and the time it consumes in it push.
You can determine all this from bare bar or candle charts.

the other indicator is true average,
with that you can determine if the volitility is out of line for your risk tenure,
you can best understand this by studying the original Dow theory.

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Quoting fti

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I try to recognise the compounded formatioms in the bar charts.
A good reference to forms study wasdone by a researcher, by the name of John R.Hill,
I'm not sure if his studys are available to the masses.
They read compound chart formations.
An understanding of Hip and Lop patterns is foundational requirement.

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Quoting fti

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A complimentary methodology is by complex candle chart formations.

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Quoting fti

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All an analyst can master, is the art of dancing along with the market,
and recognising its behaviour as the dance progresses.
It is an on going process, not one read and you khow all, that cannot happen.

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Quoting fit

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the strategies that will work for you would be the ones that you conceive in your mind,
cos, you know yourself best.

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Quoting fti

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Resistance and support levels are never absolute.It changes as time progresses.
Your trade positions must change as the chart progresses and a continued analytics be done.
DO NOT try to read it once and have a set mind of the possibilities of what to expect.

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Quoting fti

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The analysis is an on going process and every new bar added will cause new developments.
Never read the patterns that form on the chart, rather recognise it when it forms,
and follow it with a trade position.
Chart patterns can mutate as time advances
and a fixed perspective to the pattern that has formed is dangerous
as it palalyses your ability to change when the dance changes.
Althought it is foundational that you should be able to read the pattern formations,
you should not draw those lines on to your chart.
They can form optical illusions to your mind and
impair your ability of new developments that is coming onstream in the charts.

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Quoting fti

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The only way to manage a win AND a loss position is by size snowballing.
There is no other way. One increases the profitabilty bottom line and the other a recovery protocol.

Snowballing your positions in a win situation to to enhance and stretch the profits in the book.

Snowballing in a loss situation is very tricky,
The trick is to stay on the front line, and not allowing the market to run too far away from you for effective salvaging the bad . Therefore averaging of cost is the main component in this MO. Later in Art of War you will learn that to save 1 bad postion , you will need a squad. Therefore the timing is critical and the terrain whereby this is allowed to occcur must be manageable. This MO must be given sufficient thought , well parametered and executed swiftly on running battle sequences. If any possibilities of failure were to present itself , the whole exercise have to be abandon. So use it wisely. Under the strength of unlimited capital, this activity will dig you out of the holes , a trader might find themselves in. But traders do not have unlimited resource as with banks, if this protocol is adopted then much preparation is necessary, in terms of the limits of the parameters is concerned.

Remember that every loss you swallow, based on the WW tables, will put you off geometrically. So to a trader a 10 cts profit is a 10cts profit whereas a 10cts loss is not exactly that, its more. To keep books healthy, loss taking is a very detrimental exercise.
Try to be profitable , a small profit is better than a very small loss, by leaps.

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Quoting fti

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If you depend on someone else or something else ( high and migthy systems ) to do it for you, then you will become an "arm chair general" to your quest.

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