A fresh start! Doji's Trading Journal

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A-GAME
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Postby A-GAME » Wed Feb 15, 2012 4:29 pm

dojirock wrote:These indicators are a trap for me...I find every day I have them I use price action less and less, thus losing money....



Then get rid of them bro!!!

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mob
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Postby mob » Thu Feb 16, 2012 2:53 am

dojirock, would you mind sharing link to the explanation of daily extremes please

Cheers

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dojirock
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Postby dojirock » Tue Feb 21, 2012 7:07 pm

hey mob, im workin on it...doing some research...get back with ya soon.

-dojirock
"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 » Tue Feb 21, 2012 7:09 pm

Another attempt at SPACE,

not sure where to put my space box....

-dojirock
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somcheck.png
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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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Postby dchappy » Wed Feb 22, 2012 12:53 am

nice streak .. :smt023

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dojirock
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Postby dojirock » Wed Feb 22, 2012 3:12 am

Thanks Dchappy,

Still on track with the 20 a day...

What is your understanding of Daily and Weekly extremes?

-dojirock
"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 » Wed Feb 22, 2012 4:02 am

In my search for an understanding what the daily extreme and weekly extreme is and looks like these are various post from the past.......

If you can remember that position is the name of the game then you will do very well.-mo

If you trade the small TF without long term position then you have no real claim to big pips.-m0

You cannot escape a long(er) term chart, you are just going to have to get used to looking at them.-mo
can you post a daily chart showing where you got the line at 1.2177 from?-es/pip

i thought he was basing the "extreme" off a previous daily candle.

the one thing i am still not sure about on all of this.

how do you know that the daily low is going to be the daily low. It is only the daily low one time.

i know you are going to say, " i don't, and momentum"

i just seem to have an issue when i think it is the low and then it ends up not being the low. ?es/pip
when you say

" this is not--- this is not this is not"

are you referring to it not being now, because we have moved off the low?

because on the way down it would have been a daily + extreme, correct?-es/pip

The daily+ extreme is also a strange puzzle for me. How can we know???-dragon33

-Price is going to move up or down from a daily+ extreme.

-The range is going to expand from an extreme based on the ranges of the period that that extreme represents.

-There will be many higher highs or lower lows but only one highest and lowest price in any given period.

yeah i see that

i thought he was basing the "extreme" off a previous daily candle.

the one thing i am still not sure about on all of this.

how do you know that the daily low is going to be the daily low. It is only the daily low one time.

i know you are going to say, " i don't, and momentum"

i just seem to have an issue when i think it is the low and then it ends up not being the low.
-es/pip
I can only agree with TRO and ask the rest of you to find a different thread...yes, the rest of you as in all of you -mo

That was it on the discussion...still now answer...still looking...

-dojirock
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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 » Wed Feb 22, 2012 4:14 am

Calling TygerKrane.....

can you help with the Extreme definition???

-dojirock :D
"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 » Wed Feb 22, 2012 8:38 pm

Daily extremes,

I just noticed that the above chart is on a 4 hour thats why the current chart is reflecting non daily extremes. If i understand this right now.... the daily extreme happens multiple time a day but can only have a lowest low or highest high once....if we target trading away from that, we will eventually get the lowest or the highest from the day, once that is accomplished price moves hundreds of pips from there, giving us an edge. Combine that with a weekly extreme and trade away from it with the daily extreme and you could rake in some nice pips?

Question, what do most use to distinguish turning points on the weekly? The 6 or 8 hr seems most logical to me? the monthly...maybe using a daily for reversals from the extreme?

If this isnt close...im lost... lol

-dojriock
"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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Extremes

Postby cmac813 » Wed Feb 22, 2012 9:19 pm

I've looked into the same questions you have Doji about not only the daily extremes but extremes on all time frames. I don't see how to trade the failed extreme unless you wait for the bar to close. And since the bar can close a lot higher/lower than the extreme this doesn't help me very much.

The only way I can think of trading it is when you see price reaching a new high or low then you enter a trade but this doesn't make any sense to me since there is no way of knowing you are at the extreme until after the fact. But I've never understood how you trade off any extremes not just daily so maybe I am just totally lost.

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