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Lusan Journal II

  • #81
  • Mar 9, 2009 10:11am Mar 9, 2009 10:11am
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Empty as water and soft as a facing wind mountain
  • #82
  • Mar 9, 2009 10:26am Mar 9, 2009 10:26am
Long dance but a beautiful dance i agree... this surely keeps the mind relaxed...

Again some early Profit taking or am i wrong to say that...


V
  • #83
  • Mar 9, 2009 10:32am Mar 9, 2009 10:32am
Quoting indianguyinny24
Long dance but a beautiful dance i agree... this surely keeps the mind relaxed...

Again some early Profit taking or am i wrong to say that...


V
Thanks...which one is early?...
the last one look early but they seems to be in the right place...
the mindset was exhausted, Daily desired profit accomplished, no breakfast yet...
so I was seeking for an opportunity to jump out and read my book.

Regards,
Empty as water and soft as a facing wind mountain
  • #84
  • Mar 9, 2009 10:43am Mar 9, 2009 10:43am
Quoting luSan
Thanks...which one is early?...
the last one look early but they seems to be in the right place...
the mindset was exhausted, Daily desired profit accomplished, no breakfast yet...
so I was seeking for an opportunity to jump out and read my book.

Regards,
The First 3 one.... just one bar candle and you closed it....


may be i am not right ...but just a birds eye view..

V
  • #85
  • Mar 9, 2009 12:20pm Mar 9, 2009 12:20pm
About those
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  • #86
  • Mar 9, 2009 12:42pm Mar 9, 2009 12:42pm
Quoting luSan
.

the first attack where the attack is +3.... at the place where is the Banker....around 10.00



V
  • #87
  • Mar 9, 2009 4:10pm Mar 9, 2009 4:10pm
Quoting indianguyinny24
the first attack where the attack is +3.... at the place where is the Banker....around 10.00
V
this help?
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  • #88
  • Mar 10, 2009 7:44am Mar 10, 2009 7:44am
Quoting luSan
this help?

This makes it clearer and your explanations made sense...

again Bravo good job ... we bought our book to be positive and our Mind totally calm thats all two thing now i look whenever i enter the market..

V
  • #89
  • Mar 10, 2009 11:29am Mar 10, 2009 11:29am
Taking to the cleaner.
A new lesson:
When the market gives you 2 warnings, get the heck out there!
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Empty as water and soft as a facing wind mountain
  • #90
  • Mar 10, 2009 11:40am Mar 10, 2009 11:40am
Quoting luSan
Taking to the cleaner.
A new lesson:
When the market gives you 2 warnings, get the heck out there!

This is the classic tidal wave we discussed.... we are expecting North and then it looses steam and then we either need Flip or do a heavy rescue...

Anyhow can you post more zoomed chart as i want to clearly see the warning signal..

V
  • #91
  • Mar 10, 2009 11:56am Mar 10, 2009 11:56am
Quoting indianguyinny24
This is the classic tidal wave we discussed.... we are expecting North and then it looses steam and then we either need Flip or do a heavy rescue...

Anyhow can you post more zoomed chart as i want to clearly see the warning signal..

V
I was thinking about our conversation.
How much damage could I take before total mindset disruption?
I did not consider flipping at all.
One a second thought, maybe I need to reconsider that flipping also has it role. I did not flip because of huge DOW rally....there were not much correlation with E/U....what a waste!
I will think about it.

At the 3rd warning, I thought that maybe I should flip but I was already too tired after 7 hours of this so...enough of trading school.

Actually I am happy about it: I was in trading school looking at failure of highs, broken floors, and discoupling of Dow and E/U...
I exited a the very edge of knife pointed to my heart and I survive.

One more reason to have the TV off...
Again a validation to go s-l-o-w-l-y with my trading.
To rush is to become a shooting target.

Because of today lesson, I will add another couple weeks to the current troop size and trading environment: (1) TV off, (2) and (2) no DOW charting information.

Sure. Here it is.
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  • #92
  • Edited 12:39pm Mar 10, 2009 12:09pm | Edited 12:39pm
Lusan,

Also add one more rule... Never stop reading TAF...

read this link

http://www.forexfactory.com/showpost...7&postcount=46


one paragraph

I must stress, "never ever play god to the markets."
always stay in the "dance", feeling its moods and tempo,
using technical accrument to read the dance.
Implementing damage control when out of step.


Well i see now you are also Biasing Decision based on Dow ,hourly, 15 min.... though we always need to ask ourself is she dancing the way we are Biased or she is changing mood...

We need to Feel its mood and tempo... i guess we never do that.. i can say that about me.. once i am one bias i take loss then change the bias...

Also even now i see Flip advantage...

Lusan I just had an Idea can we put something Like Anti Trend indicator... we already know the trend in one day has taken from 1.2578 to 1.2821 which is way too much so going long on this trend can be little dangerous as the trend has Gone High very fast....so be cautious kinda thing... just my two cxents

V
  • #93
  • Mar 10, 2009 1:12pm Mar 10, 2009 1:12pm
Quoting indianguyinny24
Lusan,

Also add one more rule... Never stop reading TAF...

read this link

http://www.forexfactory.com/showpost...7&postcount=46


one paragraph

I must stress, "never ever play god to the markets."
always stay in the "dance", feeling its moods and tempo,
using technical accrument to read the dance.
Implementing damage control when out of step.
Sure....but remember I do not dance like him...I test and I learn from PA...my current teacher.
Today she gave me several warnings...I missed the first 2 on the 3, I obeyed and jumped out.


Quote
Well i see now you are also Biasing Decision based on Dow ,hourly, 15 min.... though we always need to ask ourself is she dancing the way we are Biased or she is changing mood...
Actually not the Dow but the direction of the Dow...until today they have gone together...today that relationship is broken...so I must break that relationship too.

My bias is given by 4H, 1H and 15M...that is the way I trade...I only take one bias a day...others seem to reverse with 15M...I do not not...even though I might look into it sometime in the future.

Quote
Also even now i see Flip advantage...
Good point...When will you flip?

Quote
Lusan I just had an Idea can we put something Like Anti Trend indicator... we already know the trend in one day has taken from 1.2578 to 1.2821 which is way too much so going long on this trend can be little dangerous as the trend has Gone High very fast....so be cautious kinda thing... just my two cxents

Anti-trend indicator?
I thought we abandoned the indicators and do only PA.
What do you mean?
An uptrend are a sequence of HH-HL
when that is not happening the trend is broken and a potential reversal might come. This was warning 2.
However during a consolidation that might not be case.
that is why I did not flip on the 1st warning.
I should have flip on the 2n warning.

Regards,
Empty as water and soft as a facing wind mountain
  • #94
  • Mar 11, 2009 6:06am Mar 11, 2009 6:06am
I am still feeling the exhaustion from yesterday lost battle. The worst is that I was correct and PA turned around and met my direction. You know...If I have stayed I could have recovered...etc...etc...long story...the point? Those that are willing to battle for a long time should be able to recover. That is the norm as per my MO/MM.
Anyway. Done for the day with a perfect dance.
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Empty as water and soft as a facing wind mountain
  • #95
  • Mar 12, 2009 6:01am Mar 12, 2009 6:01am
No trading today and for the rest of the week.
Vacation time...
I will stop posting for a while in this journal
to see the impact it has on my mindset.

I am reducing my size for several weeks to test a concept:

Normally my dances are pretty good...
but something it itching the back of my mind...

I relay a lot on 15M reversals...
so
1- isn't the best place for PTs at the next 15M reversal on S/R or major TL?
2- isn't a full dance-PT actually a change of dance direction..then I should close all trades and reverse dance direction? So the bias lasts only for the length of a leg, etc..

If these ideas are correct, I should be able to gather more pips with smaller sizes...which means better risk management...and more fluid dances

If these ideas are correct, my sticking to a single bias might be either limiting my profit and trader growth potential or an ugly sign of rigidity.

That is what I will explore...
first demo because I do not know how the mindset will react to this MO...
...then 1/3 of my current size....and increasing from there.

Have fun
Empty as water and soft as a facing wind mountain
  • #96
  • Mar 12, 2009 8:59am Mar 12, 2009 8:59am
Are you thinking of runing both side of road... long and short???..power dance..


V
  • #97
  • Mar 12, 2009 9:13am Mar 12, 2009 9:13am
Quoting indianguyinny24
Are you thinking of runing both side of road... long and short???..power dance..


V
No.
I am thinking a normal dance.

For example,

  1. I go long
  2. collect PT at next level
  3. Go short
  4. collect PT at next level
  5. etc

For example, I just correctly view 1.2750 as a long dance...I would in that dance until the next level...which is ~1.2825....I would exit there...
then I would wait to see if what PA does there...if it bounces I would go short. All these decisions made with the 15M.

Regards,
But I am opent ot he power dance as a much slower pace than Mamood.

Empty as water and soft as a facing wind mountain
  • #98
  • Mar 12, 2009 9:17am Mar 12, 2009 9:17am
Best of Luck

V
  • #99
  • Mar 12, 2009 9:40am Mar 12, 2009 9:40am
Quoting luSan
No.
I am thinking a normal dance.

For example,

  1. I go long
  2. collect PT at next level
  3. Go short
  4. collect PT at next level
  5. etc

For example, I just correctly view 1.2750 as a long dance...I would in that dance until the next level...which is ~1.2825....I would exit there...
then I would wait to see if what PA does there...if it bounces I would go short. All these decisions made with the 15M.

Regards,
But I am opent ot he power dance as a much slower pace than Mamood.

Hi Lusan,

wish you all the best with your idea.
I think it can have some fruits.

Only one thought:
One aspect of powerdance, which reduces the "price" for turning at the tp is the fading in and out dealer like. You remember the article jest has poisted several weeks ago? To be in the next direction positon already when the direction changes gives me a really large part of my profits ....

Hope to see you again in the future ;-)
Regards,
Niels
  • #100
  • Apr 11, 2009 5:20pm Apr 11, 2009 5:20pm
Interesting concepts:

Let us assume that:

1: I am willing to let go of 1% during a dance
-I mean: a pulling the plug if I find myself losing about 1%-

let us supposed that I have an scout out
and
I am losing by 50 pips
so I start a rescue 2x operation
and I am in trouble because it failed,
now
I am losing another 25 pips
that is, I am behind by 125 pips
or 1.25 % of losses: ("75+2X*25")

So what to do?...
send another rescue...when?...
I think the best is
to pull the plug and stop trading
because we are out of sync with the market,
we are out confused
and the best
is to stop for the day.
(flipping? not worthy...too late)

What I mean:
1. 1.25 % as max daily loss
and
2. a single rescue operation of 2X

why is that important?
because as far as my own mindset is concerned
I am always worry about knowing when I need to accept that
I am totally wrong and against the market
-by the way, I am coming to the conclusion that forex is almost unpreditable in the short run.-
so
when should I give up?

1.25 % is about 2 days of work...
that is not bad
if you have more than 75 % win rate.

Of course, I could go ahead and average down again...
then I might make it...
but I already convinced myself
even though it would work
eventually I will be destroyed...
so that is not a good strategy.
The best?
Pull the darn plug at ~1.25 %
and
trade another day.
Something to think about.
Empty as water and soft as a facing wind mountain
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