A fresh start! Doji's Trading Journal

If you don't know where to start, start here! Don't be afraid to ask questions.

Moderator: moderators

User avatar
dojirock
rank: 1000+ posts
rank: 1000+ posts
Posts: 1558
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 0
Gender: Male
Contact:

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!
"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!"

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

Humble
rank: 500+ posts
rank: 500+ posts
Posts: 576
Joined: Fri Mar 20, 2009 10:29 am
Reputation: 0
Gender: Male

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

User avatar
dojirock
rank: 1000+ posts
rank: 1000+ posts
Posts: 1558
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 0
Gender: Male
Contact:

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 317 times
arkon2.png
arkon2.png (59.54 KiB) Viewed 317 times
"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!"

User avatar
dojirock
rank: 1000+ posts
rank: 1000+ posts
Posts: 1558
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 0
Gender: Male
Contact:

Postby dojirock » Fri Nov 23, 2012 2:58 am

Humble wrote:
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


Good points Humble....

Trading a 5 min chart requires 5 min profits, targets. Scalping point of view.
"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!"

User avatar
dojirock
rank: 1000+ posts
rank: 1000+ posts
Posts: 1558
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 0
Gender: Male
Contact:

Postby dojirock » Fri Nov 23, 2012 3:08 am

Some things to think about.....

Lines are areas...not the end to all
Price moves in this way (per my though process) Breakout, retrace.
But how far? Look at the chart! (hint, look at Pro's chart) Your getting an edge, not a 100 percent success rate.
Determine the if/then line as the reversal line then wait for confirmation to go.

Im having so many new insights at this moment...I gotta go...
:smt026 :smt041 HeadPhones_Smile Scared_Smile Shock_Smile Shock_Smile
"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!"

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

Humble
rank: 500+ posts
rank: 500+ posts
Posts: 576
Joined: Fri Mar 20, 2009 10:29 am
Reputation: 0
Gender: Male

Postby Humble » Fri Nov 23, 2012 3:12 am

Your up late doji!

Yes, thats what I thought newscalper was doing.

Looking forward to your further posts in line with your last comment to Jala. I can be a bit slow when it comes to picking up something new to me! I either get it first up or I don't, so the more it is explained from different perspectives the better.

I never would have got the Z/L concept from MO posts if it had not been for es/pip. Although MO's Z/L posts make perfect sense now of course.
Last edited by Humble on Fri Nov 23, 2012 11:58 pm, edited 1 time in total.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

User avatar
dojirock
rank: 1000+ posts
rank: 1000+ posts
Posts: 1558
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 0
Gender: Male
Contact:

Postby dojirock » Fri Nov 23, 2012 3:14 am

Yea, and now im really going!

lol
"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!"

User avatar
Jalarupa
rank: 1000+ posts
rank: 1000+ posts
Posts: 1141
Joined: Tue Feb 23, 2010 5:50 pm
Reputation: 2
Location: South Africa
Gender: None specified
Contact:

Postby Jalarupa » Fri Nov 23, 2012 4:48 am

dojirock wrote:
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!


Hey Doji,

I'm looking forward to seeing what you are working on! It so awesome how we can all inspire and push each other to succeed. Its a very organic and dynamic process... This is community! This is the spirit of Ubuntu! We are all growing together and sharing, which is fantastic!

Thanks to all who put themselves out there and contribute to keeping this forum alive... I know its not often that I post but I hope to one day soon join in the ranks of Kreslikkers who do this kind of thing full time... I'm really getting pushed/pulled by a powerful invisible force away from my job as each and every day goes by.

My plan for liberation is simple...

I've done the excel calcs and have come to this conclusion... (if you wanna check my math/logic I'd appreciate a second opinion/correction)

$13 000 starting capital
withdraws of $1500 a month for the first year
account growth of 13.5% per month (before income draw downs)
Which equates to 0.7% per day for 19/20 days
If I risk 2% per trade over 100pips space I only need 33 pips to get this
The Average Daily Range 90/100 pips
If I trade in the direction of D1 bias I can/should be able to get at least 30pips a day...
The Average Weekly Range is 322 Pips
If I position myself at these extremes with proper space management I can do 15% in a week and spend more quality time with my wife and our baby girl (I mean I spend more time with my work colleagues than I do with the ones I love and who matter - This system is WRONG!)
If I accumulate space I can take my 2% risk to astronomical proportions
I only need to grow my account by 354.92% before annual deductions and by 50.5% after deductions to keep myself in the game.
And I can give myself a 25% annual salary increase (which itself increases by 25% annually). I mean its really quiet fascinating once you do the numbers...

And thanks to the miracle of compounding gains relative to ever increasing risk adjusted leverage I can be a millionaire in Dollar terms (If I follow this simple account management plan) by year 6 if all goes well... and I will be retired and doing the kind of things that really matters... Feeding starving people, Providing Sustainable living initiatives, Developing traders (for my pirate ship) & most importantly - Focusing on gaining inner peace through deep introspective meditation on the Supreme - Something that the rat race could never allow me to do...

So it is my hope that when I take the plunge you will all still be here to keep pushing me as you have been doing for the past years.

So yeah enough dreaming for now... If this Euro can't close above 1.29 I'm planning on shorting the living daylights out of it...
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

User avatar
bettlebox
rank: 500+ posts
rank: 500+ posts
Posts: 733
Joined: Thu Mar 11, 2010 12:06 pm
Reputation: 0
Gender: None specified

Postby bettlebox » Fri Nov 23, 2012 10:05 am

EU Trade today same thing over and over everyday.

There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

User avatar
Jalarupa
rank: 1000+ posts
rank: 1000+ posts
Posts: 1141
Joined: Tue Feb 23, 2010 5:50 pm
Reputation: 2
Location: South Africa
Gender: None specified
Contact:

Postby Jalarupa » Fri Nov 23, 2012 3:21 pm

"If this Euro can't close above 1.29 I'm planning on shorting the living daylights out of it..."

Luckily I follow my own rules... ;)
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “beginners forum”