A fresh start! Doji's Trading Journal

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bettlebox
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Postby bettlebox » Thu Nov 22, 2012 3:06 pm

I found this quote from a fellow price action trader , Nial Fuller.

"If you want to master trading you can pick one price action strategy and learn how to trade it in every market condition; make it your bi$@h..............REALLY master it before moving on."

This is what im doing ^^.
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

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Postby newscalper » Thu Nov 22, 2012 6:00 pm

Humble wrote:In case it helps

Image

Not really because I can show you hundreds of 5 minute z lines that don't hold as well as do in hindsight - what about the one right above and the run down...going down?? Why not down again at the upper z-line if the one below is good too? It's in the middle of a huge supply zone so why up and not down?

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Jalarupa
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Postby Jalarupa » Thu Nov 22, 2012 7:12 pm

newscalper wrote:
Humble wrote:In case it helps

Image

Not really because I can show you hundreds of 5 minute z lines that don't hold as well as do in hindsight - what about the one right above and the run down...going down?? Why not down again at the upper z-line if the one below is good too? It's in the middle of a huge supply zone so why up and not down?


Okay... why not have a simple rule that you will not break no matter what?

Like only trade in the direction of the D1 Candle Colour?

Add in a Bias for the W1 and you got yourself a nice combo...

Trade the H4 / H1 Momo pullbacks and you have this strategy mapped...

Body in direction of Profit / Wick in Direction of loss...

I think one of the reasons MO sizes his positions from the Weekly Extreme is that he knows that price has to cross the daily open to get back to him and that is a big enough task in and of itself...

Image
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bettlebox
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Postby bettlebox » Thu Nov 22, 2012 7:49 pm

Based purely on that chart humble posted and his comments this what i see.

2 pictures 1 is orginal picture its bit of mess so i did a simplfied version of the same price movement to help example what i see.



here is orginal
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Postby arkan1976 » Thu Nov 22, 2012 8:34 pm

Doji
would this be more or less what you do?
The whit lines are entries and red lines the stop.
The green number are the maximun pips reached.

Image

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Postby prochargedmopar » Fri Nov 23, 2012 1:18 am

newscalper wrote:
Humble wrote:In case it helps

Image

Not really because I can show you hundreds of 5 minute z lines that don't hold as well as do in hindsight - what about the one right above and the run down...going down?? Why not down again at the upper z-line if the one below is good too? It's in the middle of a huge supply zone so why up and not down?


Stop trying to find the perfect entry.
Stop trying to find 100% win rate.
Stop trying to find a place the market goes to the moon.

Start trying to find a point to enter in which you can exit at b/e MOST of the time AND you'd be very surprised when you couldn't save your shorts.

AFTER you find a place on the chart that meets this requirement, THEN start trying to make pips/money.
Could you exit B/E at the point in which price touches the Bband while also having macd fast line on proper side of 0 line????
(Arrows point to entry @ bb and adjoining momentum on macd)
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#1BODY in direction of profit #2INCREASE lot size Obsessively
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Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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dojirock
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Postby dojirock » Fri Nov 23, 2012 2:05 am

bettlebox wrote:Based purely on that chart humble posted and his comments this what i see.

2 pictures 1 is orginal picture its bit of mess so i did a simplfied version of the same price movement to help example what i see.



here is orginal


As I see it, on a 5 min chart there are two ways to trade it.

1. With a bigger time frame in mind, only take the pullbacks and trade in that higher time frame direction. (with the bias!)

2. Candle by candle, usually 3, and trade both directions scalping.

Advice, get successful on a 15 min or higher before you try to master the 5 min.
I can trade the 5 min, without near the results of the 15 min. The one min, is suicide for me.
lol

:?
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"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"

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dojirock
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Postby dojirock » Fri Nov 23, 2012 2:12 am

Jalarupa wrote:
newscalper wrote:
Humble wrote:In case it helps

Image

Not really because I can show you hundreds of 5 minute z lines that don't hold as well as do in hindsight - what about the one right above and the run down...going down?? Why not down again at the upper z-line if the one below is good too? It's in the middle of a huge supply zone so why up and not down?


Okay... why not have a simple rule that you will not break no matter what?

Like only trade in the direction of the D1 Candle Colour?

Add in a Bias for the W1 and you got yourself a nice combo...

Trade the H4 / H1 Momo pullbacks and you have this strategy mapped...

Body in direction of Profit / Wick in Direction of loss...

I think one of the reasons MO sizes his positions from the Weekly Extreme is that he knows that price has to cross the daily open to get back to him and that is a big enough task in and of itself...

Image


Thank you for the ideas Jala. Between Mo's and this post I got to thinking... When I got a clear idea, with some structure, I though back to the 100's of post I have read from you, Mo, Dragon, others that have been successful and they see to fit into an idea I just thought of. Not claiming it to be mine, just that it just came to me in a recognizable way in which the post all make sense or seem to have clarity now. Im so stoked... I need to check this out and do some backtesting on paper to confirm.

I will follow up with some post if im on to something or finally understanding what has been said at KR many times!

Thanks!
It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"

Humble
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Postby Humble » Fri Nov 23, 2012 2:49 am

newscalper wrote:Not really because I can show you hundreds of 5 minute z lines that don't hold as well as do in hindsight - what about the one right above and the run down...going down?? Why not down again at the upper z-line if the one below is good too? It's in the middle of a huge supply zone so why up and not down?


Yes you can show 100's that don't work, but as others have posted, if you plan the trade, many don't need to be for a loss and those that are, do not need to be for a full R:R.

Is this the short Z/L you are referring to?


Image


To be clear, I didn't take the trade. However it did work, although I would have chickened out after the (wick) reaction to your z/l.

There was a easy R:R of 1:2 if it worked and 1:1 if it didn't (or for us chickens).
Last edited by Humble on Fri Nov 23, 2012 3:03 am, edited 2 times in total.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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dojirock
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Postby dojirock » Fri Nov 23, 2012 2:55 am

arkan1976 wrote:Doji
would this be more or less what you do?
The whit lines are entries and red lines the stop.
The green number are the maximun pips reached.

Image


I split up your picture so I could put comments on it. Its very difficult to explain, but pick up what you see and what you can understand of the comments and see if that helps.
Attachments
arkon1.png
arkon1.png (58.62 KiB) Viewed 437 times
arkon2.png
arkon2.png (59.54 KiB) Viewed 437 times
It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"

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Thank you for your support.


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