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Lusan Journal II

  • #21
  • Edited 11:03am Feb 9, 2009 9:42am | Edited 11:03am
Quoting Green_David
Hi, Lusan:

Now G/U is 4958. And you can see I should have made 400 pips more if I am more patient. That's why I always said "buy and hold"(ride on) is better stretegy.

No body agree me with this. I feel very lonely.
I would not say it is better but different.

You are not alone...I like the "BH" stuff.

I am looking developing a "buy and hold" strategy accross a basket of pairs...as a complement of my dances...
Empty as water and soft as a facing wind mountain
  • #22
  • Feb 9, 2009 11:03pm Feb 9, 2009 11:03pm
Quoting luSan
No bad...whatever works...
Some comments:
1-Entry 1-3-4 are near eachother pricewise...so they are equivalent to a large size order...Risky and you just paid 3 times the spread for a single order.
2. Why risky?
Because PA could have gone South and caught you overexposed...In a congestion, I found, that taking the profit at the range limits helps me managing my exposure.

2- I like entry 2 and 5...2 was a rescue-reaveraging and 5 was is specially nice as it seems that you saw the uptrend and press with the attack but carefully with a single troop....
Hi, Lusan:

Thanks for discussion.

position 2 has the best price but it is most risky, since the trend not established yet. I did it because the size is small at that time with 2.

3 and 4 because I saw the first leg, but unfortunately G/U is wild and went down again.

You are right that prices of 1,3,4 are very similiar, but I openned them with the "flow".

The timing of 2, 3, 4 is not good. I waited for 2 hours without seeing up trend resumed, therefore I was affaid and nervous that after 5, the size is already heavy, and that is why the exits are not good --- I couldn't wait and face possible retracement when size is big already.

If timing is good i.e. you are in the money right after positions openned, it is much easier to ride on. Unfortuanately nobody could know the accuracy beforehand.
  • #23
  • Feb 10, 2009 9:27am Feb 10, 2009 9:27am
A log of news coming out today. PA will probably hang around a tight range until the Gods tell about their plans. Only the fools, braves or very skillfull will survive this market. Since I am a clown -as another clown said, I will stay out for the rest of the day.
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Empty as water and soft as a facing wind mountain
  • #24
  • Feb 10, 2009 9:41pm Feb 10, 2009 9:41pm
Hi Lusan,

I am enjoying your journal, please keep it up


regards
Skinner
  • #25
  • Feb 11, 2009 7:17am Feb 11, 2009 7:17am
Quoting Skinner
Hi Lusan,

I am enjoying your journal, please keep it up
regards
Skinner
You are welcome...
what do you like of the journal?
I do not post everything I do...just these dances...
and any day I might stop doing it.
the original intention was to get feedback from people
and do not get much...so the journal does not seem
like a good trade.

Regards,
Empty as water and soft as a facing wind mountain
  • #26
  • Feb 11, 2009 10:11am Feb 11, 2009 10:11am
Tough day...but I am very happy with the result...No profit but a nice learning from PA about flipping...still the trend is South but the mindset is spent..
Out..Out.. enjoy a partially sunny day.
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Empty as water and soft as a facing wind mountain
  • #27
  • Feb 11, 2009 11:11am Feb 11, 2009 11:11am
Quoting luSan
Tough day...but I am very happy with the result...No profit but a nice learning from PA about flipping...still the trend is South but the mindset is spent..
Out..Out.. enjoy a partially sunny day.

Lusan,

nice dance at the end book is positive that all it matters for me....

I am seeing one thing...if you can just casually have a S/R for hourly on your charts... and look the Price Action at the 30s or minute level some time you might get some idea...

Some thoughts...no offense but i clearly saw the M pattern on hourly i will be a little skeptical going Long here...

Though no way i am a expert but just my small pointers....as it is said..

"Success is measured in Inches"

V
  • #28
  • Feb 11, 2009 11:30am Feb 11, 2009 11:30am
Quoting indianguyinny24

I am seeing one thing...if you can just casually have a S/R for hourly on your charts... and look the Price Action at the 30s or minute level some time you might get some idea...
You are correct. The first thing I do it to check on S/R before I dance.

Quote
Some thoughts...no offense but i clearly saw the M pattern on hourly i will be a little skeptical going Long here...
No offense taken..I saw it too...I was trying to wrap up the day with 1 % profit...Greed was around my heart...I was paying close attention to the Dow and...pattern fail so many times...so this could be one of those bad one, right?...So... I noticed and I waited, but I set up a flip trade ready to inmediately trigger upon my heart saying, "Wrong bus! You are wrong."...I waited and when I got that feeling I clicked away!

Quote
Though no way i am a expert but just my small pointers....as it is said..
I appreciate your comments.
Empty as water and soft as a facing wind mountain
  • #29
  • Feb 12, 2009 8:58am Feb 12, 2009 8:58am
A very short dance.
Why did not ride the full wave? A lot of pips left on the table!?
Because I am attempting to minimize risk and maximize consistency while reducing to a minimum the amount of time that I am exposed in the market...Note not optimization of profit yet...that will happens much later...first we have to make sure that an average of 1% a day is totally consistent...That is my goal.
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Empty as water and soft as a facing wind mountain
  • #30
  • Feb 12, 2009 10:34am Feb 12, 2009 10:34am
This is a good example why I take my money and run...PA is unpredictable...she gives with one hand and takes with the other!
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Empty as water and soft as a facing wind mountain
  • #31
  • Edited Feb 13, 2009 7:20am Feb 12, 2009 1:44pm | Edited Feb 13, 2009 7:20am
I found an amazing journal with a very strong message regarding

1. "Feel the market."
2. Dump the indicator
3. Pay attention to volatility, momentum and PA behavior in 1M.

It looks great for scalping and complentary to trading strategies. I will investigate further....Hey,...I do not dance on Friday...I might as well play around with 1M/30S, right?

http://www.forexfactory.com/showpost...84&postcount=1

I love it.

Edit: Even though, I like very his stratetigical approach to 1M, I must be very carefull and avoid even testing his strategy.
Why? Because I am very happy with what I do and any attemp to observed/practice any other intense trading way will affect my mindset....How I know?...I just tried it...it works but my brain felt twisted and I defaulted to what the mind knows...

Hey... mindset is everything...
what I mean?
I programed my brain to fade the 5M and 1M...moving away will create chaos within my brain pattern recognition....do not fix what is not broken...

...still those that have a problem with feeling the market might look into his ways... it is not what we do...not at all...we fade the market behaving as bankers...he does "tape reading"...by watching the activity and jumping in before the event happen...
so imagen a wave going up...if the wave is a minor wave within a much larger impulse wave, then I fade it..and I ride the large impulse to profit (..this is what I call the Impulse+congestion strategy)
in his case, he awaits for the equilibrium point at the top of the small wave and join the impulse..it is just the point at which you enter the small waves that makes a difference...a different mindset with some similarity.


no, no testing his methods but it is nice to see somebody success "feeling PA"...it is really nice.

...today no Trading buy MT4 tool development..
Empty as water and soft as a facing wind mountain
  • #32
  • Feb 13, 2009 3:10pm Feb 13, 2009 3:10pm
Quoting luSan
I found an amazing journal with a very strong message regarding

1. "Feel the market."
2. Dump the indicator
3. Pay attention to volatility, momentum and PA behavior in 1M.

It looks great for scalping and complentary to trading strategies. I will investigate further....Hey,...I do not dance on Friday...I might as well play around with 1M/30S, right?

http://www.forexfactory.com/showpost...84&postcount=1

I love it.

Edit: Even though, I like very his stratetigical approach to 1M, I must be very carefull...
Hi Lusan,

Excellent thread!, thank you for your kind words, much appreciated, really. Great to see another pure price action trader, made my day.

I look forward to more of your posts.

All the best luSan and I wish you continued success

Regards

ShakesFX
  • #33
  • Feb 14, 2009 1:17pm Feb 14, 2009 1:17pm
Quoting luSan
I found an amazing journal with a very strong message regarding

1. "Feel the market."
2. Dump the indicator
3. Pay attention to volatility, momentum and PA behavior in 1M.

It looks great for scalping and complentary to trading strategies. I will investigate further....Hey,...I do not dance on Friday...I might as well play around with 1M/30S, right?

http://www.forexfactory.com/showpost...84&postcount=1

I love it.
[...]
Hi Lusan,

thanx for this excellent advice.
Have read ShakesFx complete Journal and the pdf compiled by RedPadisha.
Yeah - seems this guy knows what he is talking about.
Pure PA feeling - awesome!!!

Will take a look at M1 or 30 sec linecharts, whenever I find some time to get more experienced in PA reading ....

Cool finding!

CU,
MaMood
  • #34
  • Feb 14, 2009 1:47pm Feb 14, 2009 1:47pm
Quoting MaMood
Hi Lusan,

thanx for this excellent advice.
Have read ShakesFx complete Journal and the pdf compiled by RedPadisha.
Yeah - seems this guy knows what he is talking about.
Pure PA feeling - awesome!!!

Will take a look at M1 or 30 sec linecharts, whenever I find some time to get more experienced in PA reading ....

Cool finding!

CU,
MaMood
I was thinking about your powerdance when I read him....
For example: he uses a line...I would think that the speed that that line moves is an indication PA NOW momentum...etc.
Have fun!
Empty as water and soft as a facing wind mountain
  • #35
  • Feb 17, 2009 9:54am Feb 17, 2009 9:54am
When in doubt, I am out....
I exited too soon...Oh well.
Attached Image
Empty as water and soft as a facing wind mountain
  • #36
  • Feb 17, 2009 9:59am Feb 17, 2009 9:59am
Still another proof not to trust E/U and Dow correlation. Note the divergence between the 2 indexes...I need to think about it...Maybe this is daytime related or something else...
Attached Image
Empty as water and soft as a facing wind mountain
  • #37
  • Feb 17, 2009 10:25am Feb 17, 2009 10:25am
I am.......
Very much...
Some people are very dishonest....
Ungratefull...

I need to think about it.
Empty as water and soft as a facing wind mountain
  • #38
  • Feb 17, 2009 10:37am Feb 17, 2009 10:37am
Quoting luSan
I am.......
Very much...
Some people are very dishonest....
Ungratefull...

I need to think about it.
？？？

What made you think that? You keep a hard work going on. I am sure you will make a sucess.

These two days are not my days. I had some losses.
  • #39
  • Edited 12:23pm Feb 17, 2009 11:42am | Edited 12:23pm
Quoting Green_David
？？？

What made you think that? You keep a hard work going on. I am sure you will make a sucess.
You bet...I am very happy with my trading ways...My is because of so much gossiping going around the Forex Trading community....I wonder if it is really worthy hanging around here...that is the part that I will think about while I go for my weekend hike.

I am beginning to suspect that good traders do not hang around FF...where do they go?

Quote
These two days are not my days. I had some losses.

I am sorry....maybe you need to reevaluate your trading strategy...I know you trade stocks and probably that way of thinking is affecting you...just a thought....

For me yesterday was not a trading day....very low liquidity...so?...it means that the market was jerking around....difficult to trade...so I read a book...today...the market is pretty much at a major bottom...waiting for direction...note how 5M and 15M E/U candles are full of shadows...a big war going on between Bulls and bears...1D is very bearish, but dow at a major low...so I am out...Preserve my capital to fight another day....

Regards

Edit: I just picked up Pesavento's "Trade What you see." Maybe a good book...I donot know.
Empty as water and soft as a facing wind mountain
  • #40
  • Feb 17, 2009 1:57pm Feb 17, 2009 1:57pm
Quoting luSan
I am.......
Very much...
Some people are very dishonest....
Ungratefull...

I need to think about it.
Hi Lusan,

are you relating to "Charly"?
If so: As I have written there, there is only one word that discribes it all:
Kindergarden ....
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