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Lusan Journal III

  • #121
  • Aug 14, 2012 6:28pm Aug 14, 2012 6:28pm
Quoting M-H Trader
You taking a longer approach now? I think I remember you trading on the minute charts before?
Greetings,
Correct. Because of time constrains and also life style.
I moved to the higher time frame.
No much changed but sizing and leverage.
However, it is more flexible and give me more abilities to deal with sutnamis, news, weekends, etc.
A heck of more relaxed if done right.
Cheers,
Empty as water and soft as a facing wind mountain
  • #122
  • Aug 14, 2012 6:42pm Aug 14, 2012 6:42pm
Quoting luSan
Greetings,
Correct. Because of time constrains and also life style.
I moved to the higher time frame.
No much changed but sizing and leverage.
However, it is more flexible and give me more abilities to deal with sutnamis, news, weekends, etc.
A heck of more relaxed if done right.
Cheers,
Nice. Wish you all the best!
  • #123
  • Aug 14, 2012 8:42pm Aug 14, 2012 8:42pm
This thread is a good one But I read few posts on your old thread which you closed Hardly understand that menthod of troops and resuce But ya this is very well know Price action method and fractals......I must appreciate the Idea of not day trading and involve so much to saw an opportunity but daily candles really dont allow so many opportunity may be on weely its one or two good entries in a quarter daily you can see one in a week or one in two weeks time depends on time and volitality.

anyway good thread keep on doing the great work would be looking forward for your help. in understanding Price.

rEgards



Quoting luSan
Greetings,
Correct. Because of time constrains and also life style.
I moved to the higher time frame.
No much changed but sizing and leverage.
However, it is more flexible and give me more abilities to deal with sutnamis, news, weekends, etc.
A heck of more relaxed if done right.
Cheers,
  • #124
  • Aug 14, 2012 9:09pm Aug 14, 2012 9:09pm
Quoting aman4forex
daily candles really dont allow so many opportunity may be on weely its one or two good entries in a quarter daily you can see one in a week or one in two weeks time depends on time and volitality.
Not really. After knowing what the daily is doing anyone could use this information to either day trade with that trend or swing trade with H4 or H1. The point is not to have many opportunities but to capture the bulk of the move while minimixing risk.

For example,
if D1 trend is south, then trading south on M15 would have lower risk than trading north. So sell in M15, M5, M1...it is all the same but then you size, risk, leverage and entry tools change.
Empty as water and soft as a facing wind mountain
  • #125
  • Aug 15, 2012 5:51pm Aug 15, 2012 5:51pm
Finally PA appears to turn toward the south.
My army began to sharpen the bayonets.
Strategy
If long, jump out.
If short, do nothing.
If flat, sell the wench...slowly,
there are still some bulls around.
Attached Image (click to enlarge)
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Empty as water and soft as a facing wind mountain
  • #126
  • Aug 15, 2012 6:22pm Aug 15, 2012 6:22pm
The best training I ever had about trading the daily was trading M5/M1.
Attached Image (click to enlarge)
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Empty as water and soft as a facing wind mountain
  • #127
  • Aug 16, 2012 5:42pm Aug 16, 2012 5:42pm
Anything is possible.
I wish to know but nobody knows.
People say that liquidity is low.
Me? I have no idea but
the charts are bouncing north and south,
full of uncertainty. The EU zone has not solved
their problems, US traders prays for QIII.
I just look at charts and I think:
tough days for those holding stops-I don't.
Either north or south stops are taken.
I stand facing the end of the week.
Next week? Will it bring a clear direction?
If PA cannot break 1.2443 then the jury is still out.
We will see.
So....
Do nothing strategy
1. If selling, I would hold.
2. If buying, I would hold.
3. If flat, I would wait.
Bluntly: DO NOTHING.
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Empty as water and soft as a facing wind mountain
  • #128
  • Aug 19, 2012 8:33am Aug 19, 2012 8:33am
No much change.
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Empty as water and soft as a facing wind mountain
  • #129
  • Aug 19, 2012 8:40am Aug 19, 2012 8:40am
Another week...another day...
Attached Image
Empty as water and soft as a facing wind mountain
  • #130
  • Aug 19, 2012 2:58pm Aug 19, 2012 2:58pm
I really appreciate what you said. Because there are lot of whispaws on h4 and h1 but higher times frames like weekly and daily dont have such whispaws if there is any movment then it is long term trend change because trend use to follow swings more than we expect.............
I like this thread because you earlier thread was about trading with troops on 5m and 1m but this thread there are filters to overcome any obstacles..
BUt i have not yet understand that what moves you to trade the low risk opportunities..........I am waiting for that ...

Regards and wishes
Quoting luSan
Not really. After knowing what the daily is doing anyone could use this information to either day trade with that trend or swing trade with H4 or H1. The point is not to have many opportunities but to capture the bulk of the move while minimixing risk.

For example,
if D1 trend is south, then trading south on M15 would have lower risk than trading north. So sell in M15, M5, M1...it is all the same but then you size, risk, leverage and entry tools change.
  • #131
  • Aug 19, 2012 3:26pm Aug 19, 2012 3:26pm
Quoting aman4forex
I really appreciate what you said. Because there are lot of whispaws on h4 and h1 but higher times frames like weekly and daily dont have such whispaws if there is any movment then it is long term trend change because trend use to follow swings more than we expect.............
I like this thread because you earlier thread was about trading with troops on 5m and 1m but this thread there are filters to overcome any obstacles..
BUt i have not yet understand that what moves you to trade the low risk opportunities..........I am waiting for that ......
I am happy you like it.

Regarding your question. Three things:

1. I have a full time job that demands plenty of mental energy. Day trading cannot be done. I am very well paid so only constant huge daily profit would compensate what this full time job brings to the bank account.
2. Lower time frame are better trade, in my opinion, at London open. This is too mentally demanding if someone holds a job. It means to be up at 2:30 am, trade until 7 and then go to work. Imposible.
3. Lower time frames demand a lot of emotional stability. I found that I was too emotional drained after watching for hours every single M5 bar. -I am too old for what M5 demands.-

You know beside trading there are wife, family, friend, books, music, and of course, for those that believe, God.

Cheers
Empty as water and soft as a facing wind mountain
  • #132
  • Edited 6:48pm Aug 20, 2012 6:38pm | Edited 6:48pm
No changes...volatility low...everybody seems on vacation and somebody wants to hold this level.
Those who are risk adverse...better stay out of this narrow range market.
If feels like a ticking bomb getting ready to blow up.
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Empty as water and soft as a facing wind mountain
  • #133
  • Aug 20, 2012 6:48pm Aug 20, 2012 6:48pm
...just that...more wine please.
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Empty as water and soft as a facing wind mountain
  • #134
  • Aug 21, 2012 6:32pm Aug 21, 2012 6:32pm
We are getting critically close to a reversal point.
However, even though we have a very strong move north,
the weekly is still talking about a south trend.
So I am patient. No north until 1.2625
-In a gambling mode: I sold the Euro today at 1.2470.
Why?
weekly...south
Dow...down...!? Euro does not make sense.
No important news today to drive this market north...
more spain debts by ECB does not justify it...
All very odd..
tomorrow meeting...
Still no solution
more cash to the greek...
so many lies...so I am calling the bluff!
Attached Image (click to enlarge)
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Empty as water and soft as a facing wind mountain
  • #135
  • Aug 22, 2012 6:35am Aug 22, 2012 6:35am
IF today we get the answer from U.s that would be final call from them that there would be no easing and one point of concern for me is spain yeild which has again gone below 6 which is quite bullish for euro I Know it will again spike when there are no steps taken But trading chart is really worthy rather than trading fundas.

Take care
regards




Quoting luSan
We are getting critically close to a reversal point.
However, even though we have a very strong move north,
the weekly is still talking about a south trend.
So I am patient. No north until 1.2625
-In a gambling mode: I sold the Euro today at 1.2470.
Why?
weekly...south
Dow...down...!? Euro does not make sense.
No important news today to drive this market north...
more spain debts by ECB does not justify it...
All very odd..
tomorrow meeting...
Still no solution
more cash to the greek...
so many lies...so I am calling the bluff!...
  • #136
  • Aug 22, 2012 11:01am Aug 22, 2012 11:01am
Quoting aman4forex
IF today we get the answer from U.s that would be final call from them that there would be no easing and one point of concern for me is spain yeild which has again gone below 6 which is quite bullish for euro I Know it will again spike when there are no steps taken But trading chart is really worthy rather than trading fundas.

Take care
regards

guessed you from india.....
  • #137
  • Aug 22, 2012 6:02pm Aug 22, 2012 6:02pm
Another big win for the bulls.
Thanks god I was able to jump out in time
from my gambling train.
Attached Image (click to enlarge)
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Empty as water and soft as a facing wind mountain
  • #138
  • Aug 23, 2012 2:29am Aug 23, 2012 2:29am
Does it matter much that I belong to India. Efforts are always to improve trading ideas No matter which corner of the world you are living in. But I really admire the way you trade that is why I shows up on your thread . But if it seems to have some problem or issue then I would stop asking questions. BUt good traders are always humble No matter whoever criticise or demorlize one from sticking to their methods.

Hope you dont have any problem
Regards



Quoting indianguyinny24
guessed you from india.....
  • #139
  • Aug 23, 2012 8:49am Aug 23, 2012 8:49am
Hi Luis,
You were doing really well on fti's teaching on 5 minute TF...and I can understand why you wanted to change.

Quoting luSan
1. I have a full time job that demands plenty of mental energy. Day trading cannot be done. I am very well paid so only constant huge daily profit would compensate what this full time job brings to the bank account.
2. Lower time frame are better trade, in my opinion, at London open. This is too mentally demanding if someone holds a job. It means to be up at 2:30 am, trade until 7 and then go to work. Imposible.
3. Lower time frames demand a lot of emotional stability. I found that I was too emotional drained after watching for hours every single M5 bar. -I am too old for what M5 demands.
You could still trade that way on the Asian Session. Liquidity is lower and the 15M and 5M moves are usually slower. And you can trade after you come home for the day...which is what end-of-day traders do anyway.

You can leave my screens on 15M...and Asia normally moves something like 20 to 35 pips between 7PM-to-9PM. Sometimes there is an impulse move. Usually it's terribly range bound which is a nice thing if you're using Scout1-Medic2-Attack3.

Best,

Eric
" Be always employed in something useful." - Benjamin Franklin
  • #140
  • Aug 23, 2012 12:39pm Aug 23, 2012 12:39pm
Quoting aman4forex
Does it matter much that I belong to India. Efforts are always to improve trading ideas No matter which corner of the world you are living in. But I really admire the way you trade that is why I shows up on your thread . But if it seems to have some problem or issue then I would stop asking questions. BUt good traders are always humble No matter whoever criticise or demorlize one from sticking to their methods.

Hope you dont have any problem
Regards
It is Mr not Louis and asking that you from India offends you
Have you read taf yet

I am from India too


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