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Trading journal of LE1 methods

  • #521
  • Mar 5, 2014 9:42am Mar 5, 2014 9:42am
Vnfx, I have been following you on the main thread and I was wondering why you stopped posting. Then I see your comments here. I think when you may need to go back to the beginning and start using the TDI again, if anything to regain your confidence. As LE1 said, this system works and you have to go through the bad and the good. And I think if you go back to the basic and use the TDI you can regain that confidence and start seeing things differently. Trading is a learning process and it takes time. A few months of good trades can lead to over confidence. And remember the key to trading is bigger wins than loses. When in doubt get out and take some time off to clear your head before trading again. I think you have what it takes to make it as a trader, just go back to the basic of LE1 methods and regain that confidence. Good luck.
  • #522
  • Mar 8, 2014 9:02am Mar 8, 2014 9:02am
Hi Ica,My problem not about the methods but stay in my inside beast. Whenever I have 2-3 consecutive losers I've tried to make up by increasing the lot sizes which leads to gambling not business anymore. Reason that I stop posting is because of boring when I don't see any others participating ...
Quoting lca
Vnfx, I have been following you on the main thread and I was wondering why you stopped posting. Then I see your comments here. I think when you may need to go back to the beginning and start using the TDI again, if anything to regain your confidence. As LE1 said, this system works and you have to go through the bad and the good. And I think if you go back to the basic and use the TDI you can regain that confidence and start seeing things differently. Trading is a learning process and it takes time. A few months of good trades can lead to over confidence....
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  • #523
  • Mar 9, 2014 9:02pm Mar 9, 2014 9:02pm
Hi Vnfx, I understand. When I have 2 to 4 consecutive losers I decrease my lot sizes until I regain my confidences. And like I said I put back the TDI just for confirmation purposes. I actually see the bigger picture better. I still have my charts without the TDI indicator but I have at least one chart with it and I look at that chart during the slow times. I also understand why you stopped posting. I feel bad that that thread is dead. LE1 did a great job teaching us the method and I really got a better understanding of price action due to his posts and other posts. Good Luck and Good trades.
  • #524
  • Mar 10, 2014 10:04am Mar 10, 2014 10:04am
Dear Ica,
Good to know that TDI works for you. I used to make the same but not helpful for me because my main strategy is Arjun Candles.

Quoting lca
Hi Vnfx, I understand. When I have 2 to 4 consecutive losers I decrease my lot sizes until I regain my confidences. And like I said I put back the TDI just for confirmation purposes. I actually see the bigger picture better. I still have my charts without the TDI indicator but I have at least one chart with it and I look at that chart during the slow times. I also understand why you stopped posting. I feel bad that that thread is dead. LE1 did a great job teaching us the method and I really got a better understanding of price action due to his posts...
BTW, missed the first signal due to internet problem but managed to jump in the second one for +20pips.
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  • #525
  • Mar 10, 2014 12:56pm Mar 10, 2014 12:56pm
Nice trade Vnfx. I also have the ARJUN 10EMA dashboard on my charts. It is good to see where price is at on higher time frames. I trade working my way down the time frames. I actually also use 5 min charts for really quick trades. Believe me just using the EMAs and understanding the price action you can make quick profits on a 5 min chart. But my main trades are from the 15 min after reviewing the higher time frame. Using TDI helps but I also try not to depend on it. I only strictly use it after losing consecutive trades just to get my focus back. Stay the course and I am sure you are going to be successful. I can see it on your post that you are getting it. Good Luck and Good Trades.
  • #526
  • Mar 12, 2014 3:04am Mar 12, 2014 3:04am
Quoting lca
Nice trade Vnfx. I also have the ARJUN 10EMA dashboard on my charts. It is good to see where price is at on higher time frames. I trade working my way down the time frames. I actually also use 5 min charts for really quick trades. Believe me just using the EMAs and understanding the price action you can make quick profits on a 5 min chart. But my main trades are from the 15 min after reviewing the higher time frame. Using TDI helps but I also try not to depend on it. I only strictly use it after losing consecutive trades just to get my focus back....
Dear Ica,
Thanks for your encouragement. Why don't you share some of your charting so that we can learn together?
Here are some good entries I scalped today.
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  • #527
  • Mar 12, 2014 3:32am Mar 12, 2014 3:32am
Another one. Lucky day.
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  • #528
  • Mar 12, 2014 12:31pm Mar 12, 2014 12:31pm
Nice. I will post some charts in about a week. I am taking the rest of the week off and just going to relax. Good Luck and Good Trades Vnfx.
  • #529
  • Mar 13, 2014 12:29pm Mar 13, 2014 12:29pm
Hi Vnfx. Here is a screenshot of the EURJPY. It is a 10 min chart. I love trading 5M 10M, 15M and 1H charts. This is a perfect example why the TDI can really aid you in your trading. Too much focus is on the Green crossing the Red. But the real focus should be on the Red and Yellow, the longer term averages. Green will cross Red frequently because it is a shorter term average and any spike up or down in price will give you a sharp move up or down on the Green TDI. Most would be looking for a move higher but my focus is on lower. Why? See how flat the Red and Yellow lines are. I would look to short the test of 143.25. As you can see price just could not break this area. And when it did, there was no TDI confirmation, it still was bascially flat. But after it broke 143.25 on the upside and retested it and broke back down I would have shorted it. The safe play would be the break of the 200 or maybe even the 50. But I would have sold the break back under 143.25 with a stop at the most recent high. And you can see this trade worked out if I would have taken it. You still could have taken some longs on the test of the 200. But they would have to be looking for a quick 10 to 20 pip gain as there was no TDI confirmation. Trading without the TDI is profitable. I have charts without it and my focus is on price action at the levels and moving average. But I also use the TDI to see a more clear picture. I did not take this trade but if I was paying attention I would have. And I would have made at least 2 or 3 trades on the test of the 200 moving average. But I would have look to only take 10 to 20 pips as I just did not see any confirmation on the TDI for a big move up. Good Luck and Good Trades.
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  • #530
  • Mar 14, 2014 1:33am Mar 14, 2014 1:33am
Quoting lca
Hi Vnfx. Here is a screenshot of the EURJPY. It is a 10 min chart. I love trading 5M 10M, 15M and 1H charts. This is a perfect example why the TDI can really aid you in your trading. Too much focus is on the Green crossing the Red. But the real focus should be on the Red and Yellow, the longer term averages. Green will cross Red frequently because it is a shorter term average and any spike up or down in price will give you a sharp move up or down on the Green TDI. ... Good Luck and Good Trades. {image}
Thanks for sharing the 10 min chart.
Here is my trade overnight. It's not normal to let it run over night. But I felt very sleepy last night and have a feeling that it will drop to where it bounced the day before.
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  • #531
  • Mar 14, 2014 9:49am Mar 14, 2014 9:49am
5 min scalp.
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  • #532
  • Mar 14, 2014 1:44pm Mar 14, 2014 1:44pm
Great trade Vnfx. You could have also held a little longer to see if price goes down to the 10 EMA. But taking quick profit is always right. On trades like that sometimes I would have placed a SL at BE+1 where I at least get a 1 pip profit if my stop gets hit. But on the GBPJPY that would be hard due to the wider spread. But if the 10 EMA was a little lower I would have waited. With EURJPY and GBPJPY I just take my quick profit and run as these pairs are just too moody for me, the moves are too crazy. But watch pairs like the AUDUSD, GBPUSD and EURUSD when it breaks away from the 10 EMA. It always goes back and either continue moving in the same direction or reverses.

I have about 20 years trading experience but only 6 years of trading the forex market. I first started trading the forex market with just moving averages and RSI. And when I discovered the TDI I just used that. Then I found LE1 method and incorporated it into my trading plan and my trading improved. As I said I also trade without the TDI but I also use it when I look at where the TDI levels are before I execute a trade. Sometimes just for confirmation or just to see how much risk or rewards I can expect from the trade. Price action determines when I exit a trade. Once in I just watch the levels and where price is going. The GBPJPY trade I would have done exactly what you did, take my profit and run. But if it was any other pair I would have, at least 9 times out of 10 held to see how price reacted to the 10 EMA. Once you get your confidence back you probably would have held a little longer. No matter what anyone tells you, emotions always plays a part of our trades, especially after consecutive losing trades. Just get back to basic and refocus and conquer your emotions. You can not be perfect but as one trader told me smaller loses and larger wins and your on your way to becoming a successful trader. You can even only be 35% right but if your gains are bigger than your loses, you are a successful trader. Just keep the loses small and always remember there are always other opportunities and trades. You are getting there, I can see it in your trades. Just stay on the course and you will get there.
  • #533
  • Mar 18, 2014 8:46am Mar 18, 2014 8:46am
Quoting lca
I have about 20 years trading experience but only 6 years of trading the forex market. .
Dear Ica, I did not know you have 20 years trading experience. Even with only 6 years of forex trading but I guess you are consistently profitable. If you have time please keep sharing your chart and teaching lessons for newbies. Here is my 5 min chart which I don't know why I recently love to look at rather than 15 min charts. It's 80pips winner but just not enough for several pips which I lossed before because of really bad MM. I know my biggest problem is I still not treat trading as business but gambling - the reason why I blew several A/Cs.
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  • #534
  • Mar 18, 2014 10:03am Mar 18, 2014 10:03am
When trending everything becomes easy.
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  • #535
  • Mar 18, 2014 1:57pm Mar 18, 2014 1:57pm
Hi Vnfx, I started trading the US stock markets over 20 years ago. Became a full time trader because of this. I still trade the US markets but by the option market and index options. I am now focusing on fx trading. I love trading the 5m charts. One suggestion is to always know where the 15m 200ema is on the charts. Knowing this helps you decide on the rest. Also on 5m chart when trading around the RN let it test it a few times before entering. The GBPJPY entry about was great. If I was trading I probably would have entered the same time as you did on the first entry. But the cautious side of me would have waited until a retest of the RN. I am very cautious when trading the GBPJPY and EURJPY pairs. I just feel these pairs easily fools you. Also when I first started trading the fx markets I focused on the JPY pairs and crosses. And when I thought I understood trading the GBPJPY, I blew my account. So I stayed away for a bit and now am just super cautious when trading them. Most people will tell you the higher time frame charts are the way to go. I do look at them but I mainly look at the 5m, 10m and 15m charts. I look at the 15m charts before I take any trades on the 5m. And sometimes I just trade the 10m chart. You have to treat this as a business and not some get rich quick or hobby thing. Look at the charts and really look at the charts that you mainly trade. If the majority of your trades are from the 5m charts then focus most of your time on looking at the 5m charts. From there you will start to see a picture of the price action and you will greatly reduce your risk. Also never think that you got it because in reality you don't. You will always learn something. Stick to your system, don't jump. Modify it a little, add an indicator here or there but stick to the core. I started with the TDI and my modified it because that was the core of my system. Now I adapted LE1 method, changed some of my moving averages and I have improved my trading. Stay the course and you will see positive results. Good Luck and Good Trades.
  • #536
  • Mar 19, 2014 3:25am Mar 19, 2014 3:25am
Quoting lca
... And when I thought I understood trading the GBPJPY, I blew my account. .... Look at the charts and really look at the charts that you mainly trade. If the majority of your trades are from the 5m charts then focus most of your time on looking at the 5m charts. From there you will start to see a picture of the price action and you will greatly reduce your risk. Also never think that you got it because in reality you don't. You will always learn something. Stick to your system, don't jump. Modify it a little, add an indicator here or there...
Dear Ica, Already sent email to you.
I find 5 min charts provide more signals but also more fakey when market ranging or choppy.
Here is another 5 min chart trade. I missed the first signal which could target recent resistance (about 20pips reward). Reason I jumped in my trade is because I see the 2nd bounce from that resistance level is very weak, thus I hope it will break.
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  • #537
  • Mar 19, 2014 3:02pm Mar 19, 2014 3:02pm
Hi Vnfx, got your email. Will send it out later today or tomorrow. I have it saved on my home computer.
  • #538
  • Mar 20, 2014 4:19am Mar 20, 2014 4:19am
Lots of confluences.
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  • #539
  • Mar 20, 2014 6:00am Mar 20, 2014 6:00am
Can't wait more. +20pips should be reasonable.
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  • #540
  • Mar 20, 2014 6:20am Mar 20, 2014 6:20am
Don't know why I close it in red?
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