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Thread: Playing with the logic in trading

  1. #1
    Trader rinaji's Avatar
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    Playing with the logic in trading

    I will try to make a trading journal, I hope this can represent my understanding of trading and forex market.

    Trading plan:

    Basically I was a longterm trader....
    I think the market is an overview of the condition of the balance between supply and demand, so I have never forgotten this principle in every trade that I did.
    I want to unify the logic of the three basic elements of a forex trade, that is mindset, methods, and money management.
    I'm looking for a good moment of all pairs, but I only open the position in one currency pairs.
    Usually I always analyze the market in monthly time frame, if there is no chance, then I will analyze in weekly chart, and if there is no chance on weekly time frame, then I will analyze in daily chart, and so on ....
    I just analyze the technical basis, there is no indicator that a permanent option for me, all the indicators are useful for me. But there are times when I do not use indicators at all. And even I can open a position by analyzing the fundamental conditions. And I will take the position even though only from rumors, if it is potential to making profits.

    I am always open positions by averaging techniques with risk management manually, manually cut loss and take profit manually, max 4 positions in one day, there are usually closed position within few hours, and there are some positions that I hold up as far as possible.

    This journal is a motivation for me to improve my trading skills, because this strategy is purely based on my understanding, and I have never used this strategy before.

    I think this is enough to explain my trading plan, if I explain it all could probably spend 10 page thread. In essence, I just use a simple technique. Only rely on logic.

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  2. #21
    Trader rinaji's Avatar
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    On this day I try to observe the eur/jpy, formed a bullish pattern that perfect wave on M15, is this what is called the classical theory?

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  3. #22
    Trader rinaji's Avatar
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    Euro show upward movement against Japanese Yen. Well... Good sentiment in in this currency... different conditions occur in yen.

    After failing in the first entry, I tried to open the second entry in eur/jpy, my reason is very simple, the price touched upper trend channel. I wish there was a correction in this area.


    and I have made 3 different plans in chf/jpy, possibly the worst for me was plan A. So I had to adjust the money management for these conditions.

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  4. #23
    Trader rinaji's Avatar
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    Quote Originally Posted by lmigll View Post
    Playing with logic, thats very good. I am all time work in forex and also forum. But not any time play with logic. Forex is a very good online business for me. But i am all time work in here very hardly for earning money.
    Yes brother ..., forex is hard work to earn money consistently, not easy at all, I understand that, and I feel what you feel, because until now I have several years of experience, but in fact I have not getting back all the losses that I get for starting this business.

    I am thankful, at least I have been getting results as I expected.
    And now, I am trying to use a strategy that I have not tried. Does it seem weird for you brother ...?

    I am not a master, here I am just like you, learn everything that I never knew ...
    Just learn all the material shared by Value Trader. He is a mentor/educator in this forum. I have learned a lot from him, at least I get an idea of some of the topics that he shared, I do not take the strategy that he gave, but I understand what essence of multiple creatives which he gave, so I can make the initiative in building a system.
    I try not to be limited by several indicators, understand the market is an important thing ... , When you already are in that level, then you do not need to use technical indicators, because your brain is the best indicator, just understand the logic of the market. But if you must use an indicator, any indicator you are using is not a problem, because you have to understand the market itself.

    Please search for a topic that is shared by Value trader, and understand the essence of the various topics that he gave, there is something hidden meaning behind all of that. Some topics are providing a new idea for me ..., which I never got before ... wherever ... in any forum ... not about Fibonacci, Moving Average, not about discipline, greed, fear, or other things that we often hear but can not change anything. But you will find an idea that will change your mindset.
    Quote Originally Posted by RoboLover View Post
    Hehe, good one mate. But I agree with the creator of this thread. In my opinion, every activity must be included in our logic, it means we are not imagining. So what is presented by the thread maker is we should be able to trade with our logic. Technical and fundamental is the product of the brain and was also reasonable, then, the same is the case with this strategy. Continue pal.
    Brother ... That's right, you have a similar mindset to me, our brain is the most valuable indicator, because the logic created by our brain.
    We can take a simple example,,,,
    If we deposit $ 1,000 and use 1:500 leverage ratio. Means we use $ 500,000 for trading, so we can double the deposit capital quickly, and could also lose all deposits quickly.
    If we had stopped out, or margin call, or go bankrupt. Then logically we only lost 1 out of 500. So why do not we make deposit 499 x $ 1,000 again? So if all was lost ..., then we can say that we have been bankrupt.
    Understand what the essence of forex trading online,so that all will be easy and simple.
    Sorry if my writing can not understand, I had a little difficulty in conveying what I think.

    And thanks to you all, Hopefully you guys are here to motivate me, I do not share the signal, I do not share the strategy, I do not teach psychology, mm, or anything else, because it is all available at subforums. Please find in another subforum for such things. It is a trading journal, I wrote a journey in trading using this system, and hopefully this journal motivate you all to do the same thing, ie create a journal to build a system.

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  5. #24
    Trader rinaji's Avatar
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    NZD/USD
    Pullback of support on this day make my plans should be updated, I tried to make some pending orders in accordance with my plan, 2 p.o for consolidation zone, and 1 p.o for break support.

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    CHF/JPY
    I tried to test the trend channel resistance (upper line), open a sell position.

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    But about an hour later the prices is able to break out of the trend channel,

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    And from H1 (zoom chart)

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  6. #25
    Trader rinaji's Avatar
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    And like what I had planned on post # 24, I get the conditions according to plan A in chf/jpy, which is my worst plan.
    So I have to get ready to set risk management plan in case of a bullish breakout from my safe area.
    Just wait n see

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  7. #26
    Trader rinaji's Avatar
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    Just check out the chart (chf/jpy) at the close of the New York session, price now at the highest level in the monthly flat, I assume that the market will continue to be in the monthly flat area, which is divided into 3 flats daily. But I do not want to work based on expectations, simply follow the actual market conditions, so I have to always anticipate if the prices continue bullish break out of the flat area.

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  8. #27
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    I am interested in your journal, and your trading method is almost similar to mine. Already this year I apply the concept elliot wave, as the basis for the theory that I have created. To further refine it, I also use the law of supply and demand theory. Theory that you have very sensible to me, but any questions for me, when we're facing an error when opening order situation, what you are doing. Placing stop losses or open a new order?

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  9. #28
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    I must admits to you that this seems complicated to me, After it has being said that it is on long term, what is then about the averaging at the bottem of the comment? The result of the trading is not convincing to try the trading skills as well. I am doing my trading based on certainty. It looks more of complex in reading and practicing this.

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  10. #29
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    What i have read is talking on plan for traders and the pattern for the trading of forex. Getting the trading signal is not more to good trading result than having cogent trading plan. This gives traders what they want about forex. The chart can be like a cloud sometimes, it may not make a clear pattern, this is where you need your logistics.

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  11. #30
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    Quote Originally Posted by RoboLover View Post
    I am interested in your journal, and your trading method is almost similar to mine. Already this year I apply the concept elliot wave, as the basis for the theory that I have created. To further refine it, I also use the law of supply and demand theory. Theory that you have very sensible to me, but any questions for me, when we're facing an error when opening order situation, what you are doing. Placing stop losses or open a new order?
    Oh good question, I think it depends on our way in use money management, each person must have a different way, for me personally would have my own way, may not be the same with you.
    Because this time I only saw sideway phase on the daily chart, then I do the averaging technique, my assumption is prices will continue to move sideways ...
    But if the price moves of break resistant then I will do the hedging or cutloss, maybe you could look back at the picture post # 27
    According to my logic, cutloss is the same as hedging. So it makes no difference which one I use. I can even add a new entry in same direction with my floating position,
    In essence, I will keep the distance in pips of a margin call.
    Thak you...:D

    Quote Originally Posted by cozard007 View Post
    I must admits to you that this seems complicated to me, After it has being said that it is on long term, what is then about the averaging at the bottem of the comment? The result of the trading is not convincing to try the trading skills as well. I am doing my trading based on certainty. It looks more of complex in reading and practicing this.
    Yup, this seems complex to you, but as I've post, I left a couple of positions for the long term, and I took some short-term positions.
    And in the first post I said that I was using averaging techniques. This is just to defend my equity ..., you can see post # 2 and post # 27
    Almost the same conditions, the market was in the same area, same price.
    In post # 2.... I have 2 positions, total 0.3 lot,
    In post # 27... I have 5 positions, total 0.5 lots. Floating minus = 0.3 lot
    But did you notice the difference equity from my account? yup in post # 27 I have equity greater than post # 2, although floating condition, although market at the same price. Do you see a growth equity in my account?
    Maybe you will see this is a complex thing, but if you understand the essence of forex maket then you will find it easy and simple.
    Then what is you feel Fibonacci is a simple tool? Then on what basis you are connecting between Fibonacci numbers with the forex market? Is there a spiritual powers of the Fibonacci numbers so as to analyze the market? Are you able to explain with simple without complexity? And how the logic ...
    If you understand the forex market, you can use varied ways in the trade, is not pegged to one or two types of indicators, is not confined to the rule that will make your brain pinched. Never grow at all. Your objective is to understand the market, then build the system. Not understand the system and run the system rules but ignores market character.
    Imagine you are a manager of a football team, are you will create a strategy without understanding the character of the team which will compete with your team? That's bad idea...
    Basically I just analyze the supply - demand, power of buyers and sellers, thus forming a sideway and market trends. Whatever way I did, I should be able to identify, if you want me to use Bollinger Bands or stochastic, or other indicators... then I will use that and I should be able to identify the market, no dependency to any particular indicator.
    Thank you dear...
    Quote Originally Posted by silverlady View Post
    What i have read is talking on plan for traders and the pattern for the trading of forex. Getting the trading signal is not more to good trading result than having cogent trading plan. This gives traders what they want about forex. The chart can be like a cloud sometimes, it may not make a clear pattern, this is where you need your logistics.
    That was a good opinion ... my friend ..., thanks you for visitting,,,

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    Last edited by rinaji; 11-17-2013 at 08:13 PM. Reason: correcting grammar

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