pete.alfa journal

PLEASE NOTE THAT THIS JOURNAL NO LONG VALID A LOT HAD BEEN CHANGED BUT I DIDN'T TIME TO PUT IN HERE.
I KEEP IT FOR MY FURTHER REFFERENCE PURPOSE ONLY

Hi All,

Update 7-11-09
1. I might try to kill the scout after 2 continious bars against me & if I'm not win up to 5 bars(25mins) I quit I'll try that.
2. Read somewhere to trade news wait until thing settlesafter news announcement then take the pull on the other side if the set up is there.
3. I'll try reduce scout side so I dont feel any pressure on rescue.


First of all I would like to thank to Fti who started TAF thread without Fti I guess I'm still going no where. Thanks to Maheswara(my mentor) who is very smart young guy which is guiding me to the right direction. Also thanks to Lusan & GEfx for thier journals which I learn a lot from them, specially thier charts which tell everything(some time it's very hard to understand without charts)

I'm a newbie & this is my trading records for my reference and also to improve my trading. All comments are welcome.

My trading rules are very simple, I beleive in KISS
1. never trade more than one pair at a time. Normally I trade only EUR/USD
2. follow the dancing step.
3. Trade 1-2-3 pattern & also HH HL & LL LH that's all.
4. Skew 1-1-1-1.......... first. I 'll learn how to do Fibo later when I gain more confidence.
5.Rescue - I have to work out & put a big sign on the black board for rescue teams Cos when I'm trading - no time to calculate, rite now just roughly guessing.

rite now my scout is 1000units (oanda)demo I 'll go live soon with oanda,few hundred dollars worth for learning. I trade only on Tuesday & Friday(my day off)
I have changed my 1st scout will be 100units to test market whether I'm in the right direction.

I'll update from time to time of my first post so reminding me of important issues.

Best regards,

Pete

hello pete,

just a post so i am suscribed and to wish you the best.

pax

This trade was on yesterday friday 11-9-09

I traded 2 sessions Sydney time
1st session before news17:40 -18.10
2nd session after news 19:30 -20:00

Thanks Pax Hope you are doing fine too

Add more comments on trade 11-9-09

LESSONS: 1. consider s/r & M W (patterns) as entry point
2. MIND SET is very important if you think you still can win even you are in the wrong direction YOU STILL CAN as example in charts 1&2 (yet I quited too early cos I just wanted to get out from the loss but if I took it easy(cool enough) to look at s/r level then I might make more.

Trade 15-9-09

Very bad trades too much confidence. Big loss
Lessen: 1. Never look at 1min chart
2.trade 5 mins chart as trigger & use 1min for entry only.
3. Rescue only when double top or bottom.
4. I always choose wrong direction This problem must be slove.

Chart will tell every thing. I think I will use scout 100units to try but normally 1000unit for army.

hello pete,

i hope are on demo account. do you save your charts for learning and future reference?? i want to but i don't know how to do this. maybe we can PM because i use oanda also.

about your lessons:
you should get some advice on your lesson nr.3. iit looks predictive to me but i am just a student like you.

you say you allways choose wrong direction. remember to be shure you are not wrong on timing and right on direction before turning.

today iam short eurusd 20@ 4600 & 30@ 4590 if it keeps going against me and i have to cut my loss or can rescue i will not go long today.
this is one of my rules because i lost on both sides many times.

i hope many will find your jounal and help you improve.

kind greetings pax

Thanks Pax,

I sent you PM how to save chart hope you will received soon as you open your PM
BTW I will go for live soon.
My mistake was I trade at 1 min chart but I didn't take 5 mins as reference which I must (1min only for good entry only) but 5 mins is trigger point.

Have a good weekend - bye

trade 18-9-09,

Today trade was fine as I took 5mins(follow the rule) as trigger point so good.

Today I tried to follow fti style I traded 3 pairs(EU,GU&UJ) at the same time it was fun,fantastic but I made few errors first error closed scout instead of troop but it was OK. 2nd mistake was I took trade wrong pair (my intension was EU but my order was AU How did it happen?

I still made about 20 pips.

LESSON: 1.Live trade should be done only one pair at a time.
2. each wave is going about 30-40 pips on 5 mins & high chance the trend will end approx. 120 pips, always put this into account.

Note: My thinking is I will look at many pairs to make use the most of my time when EU is ranging. I 'll concentrate on EU but when EU is not tradable then I'll look at GU,UJ,UChf,AU & EJ. or may reduce in the future as time goes by.

trade 22-9-09

Lesson 1: never learn that never rescue less than 30 pips well 20pips should be ok
2. Again 5mins as trigger as 1 min as best entry
3. Check HH LL of 5 mins.

EU trade: becareful when the prices go up to top with long bar - stay away & observe.

UJ: As above mention resue to early then I have problem. Next time rescue use 5m-15m chart 1min only look at speed.
Look at 5m What's hell how I shorted the trade? Lesson learned

Trade 25-9-09

EU
LESSON: 1. I can't use 1min any more coz I become over trade and do many stupid thing I have bad habit from scalping so no more 1 min chart. I think I 'm not suitable to look at 1min chart.
As I can look at the chart EU trade I did many mistakes.

If I took it easy I would have sent troops the most was 8person for 6pips or 12person for 4 pips down to BE. But at least I managed to make small pips but in real live I can't afford to rescue up to 6 operation.

I think I'm going to kill the scout if it breaks previuos low for short or previous high for long.

2. Look at EU & GU charts 5mins there are so many good trade can be done.

3. I'm going to extend trading time & trade many pairs EU,GU,UJ,UCHF,EJ &AU may be NZU cos it's going to take a long time so which ever pair have a better chance to trade first.

one more thing I learn fron TAF(Tfi)

when in bear mode -think in bear mode,always ask it going down& never think OH I see up pattern.

trade 2-10-09

UJ short rescue was sucessful finished early too tried.

Lesson - 1. 3kingdoms if they are in sync it's going to be BIG MAJOR & SUPER trend

2.makets can be any thing up & down so follow tempo as you see 2nd charts

trade 6-10-09

Today I tried to explore trade many pairs the result was not bad I gained 4 pips The rescue finished to early bcoz I just want to relax.

NOTE: I learned from yesterday.
1. EU did not carefully analyze the trade.
2. EJ rescue have to work out properly.
one more work out to exit or kill the scout.

Should save the daily,1h,15m & 5m before took the trade so can be analyzed later

Trade 9-10-09

Trade total gained 4 pips. Took few pips loss(AU).
I can feel that I take only 2 pairs at he same time(each pair on each computer so easy to handle).

Lesson: Today is friday with inside bar day so it hasn't moved much.

trade 13-10-09

Today I've leraned something new as Auxesis reply on my post I made about 17 pips but I should wait for the flag to make a new low to go for short if not then have to go for long.

Like wize Pete, when the euro broke north out of your flag, the following south failed to make new low, that should scream danger when attempting short off the broken resistance line. actually the play would have been to long the broken flag north on the retrace.

Trade 16-10-09 on EU see chart. I made +25pips

Nowaday it seem that I've made some pips consistance.
my 1st goal target is +25 pips per day. I hope I can make it.

LESSON:
1. I need to study more in price patterns which I'm doing rite now.
2. I'll do some revision on law of chart & trade trick entry.

Trade 20-10-09
today traded EU & GU gained +3pips
EU gained +1pip
Gu gained aboout +3 pips - scout -39.2, 1st rescue, +0.4 & 2nd rescue +6.6

LESSONS: 1. learned to control emotion not to excite when lossing pips or making pips
2. rescue when loss a lot then I had to change TF(from 5m to 15m) to look at possible rescue(resistance)l evel I could see clearly where was a possible rescue level

Trade EU 23-10-09 gain +12pips

yesterday trade was Friday so had to be careful but at least I gained +12 pips

Cheers,

testing http://www.dailyfx.com/forex/fundame...s_Bullish.htmlAU

EU 27-10-09 LOST 15pips too tried

LESSON: 1. No more TTE entry unless the beginning of the wave.(as guide 30piss)
2. Always consider pattern - The EU was bear flag but I didn't take into account. so I took long instead of short. as you can see in 2nd chart.