A fresh start! Doji's Trading Journal

[bettlebox]

Im truely grateful mate . I been really putting hours in gaining experience.

That chart you attached to this message is very interesting, i see pattern you high lighted, im thinkin to myself why did i miss those. Its one those "of course how stupid i am not seeing that" moments.

BB,

Great job on your work over the past few months!

[bettlebox]

Hi D,

is it the Red combine candle (Yellow star at top) closed below the openining of that blue combined candle. Signalling a change in bias

I hope that makes sense.

Attached Picture, looks down to me.

Hello all, please Doji, could you tell me your opinion about this 1h eurusd chart ?
Do you think in long or short ?
Why ?
Thanks.

BB and arkon,

Look at that chart...ask yourself what happened at top that did not happen anywhere else on that chart. Im not discounting your chart mark ups, they are spot on, but there is one thing I havent seen you guys SEE yet...

This will also help you hold on longer to trades.

ps, im still around....just making a goal to spend more time trading less forum.. lol

[newscalper]

Attached Picture, looks down to me.

Hello all, please Doji, could you tell me your opinion about this 1h eurusd chart ?
Do you think in long or short ?
Why ?
Thanks.

BB and arkon,

Look at that chart...ask yourself what happened at top that did not happen anywhere else on that chart. Im not discounting your chart mark ups, they are spot on, but there is one thing I havent seen you guys SEE yet...

This will also help you hold on longer to trades.

ps, im still around....just making a goal to spend more time trading less forum.. lol

it closed over both the red AND the blue lines?

[dojirock]

BB-Nope
News-Nope

Whats in the blue combined box? What is the singular candle a few later.
BB maybe you see it and dont know it.... What do you mean by "Blueline failed"? Explain.
Yes I see the blind mouse turn. Thats not what im referring to.

News- Pay no attention to anything blue or red in this case.

This stuff is learned by observing. The truth, no BS. No body knows what price is going to do. All price action trading has been learned by observing what it looks like on charts. People dont change, so why would charts. Is what i,m showing you 100 percent? No, but is a high coincidence percentage!

[dojirock]

BB

From what I know of extremes, and not even sure if I trade them. lol
If im correct in my understanding, when price reaches an extreme, it gets rejected or breaks it (expansion) to some point then reverses and retest to confirm direction change to opposite extreme.

Might want to get a confirmation from some of the extreme traders.....

[bettlebox]

Ahhh think i understand

Important part is not just price closing below the blue line "Blue Line FAILED" in picture, but the RETEST of the failed blue line.

Your expectation is price to push through and make a new higher high , but in this case price failed and turned to downside.

So if i was long and price turned to downside ie crossed a blue line in this case, is not to panic and dump the trade but to wait for re-test and then make decision weather to hold or dump the trade based on prices re-action to re-test.

I re-drew the picture show a visual of the retest of breakout to downside.

think im seeing what you are saying.

BB

From what I know of extremes, and not even sure if I trade them. lol
If im correct in my understanding, when price reaches an extreme, it gets rejected or breaks it (expansion) to some point then reverses and retest to confirm direction change to opposite extreme.

Might want to get a confirmation from some of the extreme traders.....

[dojirock]

Applying trading method to 4 hr charts produce amazing results. I cant even imagine just taking 4 trades in a month. It yields over 600 pips. A goal for 2013 is to apply what I know to the 4 hr chart and with every fiber of my being muster up the patience to trade that time frame. The trade off in the number of pips has to be worth the imagined less stress trading the 4hr chart.
Hats off to all you longer time frame traders. I'm going to try it on a pair I don't normally trade so I can still trade my usual way on the 15 min.
I will post 4hr charts for accountability. (That always helps me stay on track).

[dojirock]

Example chart

[newscalper]

Doji, hehe, sorry to be terse once again but why be SO cryptic if all you're talking about again is a retest? We all know it, we all see it. We've all shown charts showing it.
People would get results around here a lot quicker if there was a bit less of the mysticism.

And personally again and again I'm getting crushed trading it. Because it always boils down to which illusion you are trading.

What do I mean by which illusion? You guys are going on candle bodies and not price extremes. Extremes exist on all timeframe charts. Bodies do not.

Shall I repeat that: bodies do not.

Place your bias based on the 3 hour chart or some different brokers 4 hour chart and many times it will be totally different because the candles are not closing the same. What do you think 3xcc is about? It's not just about seeing momentum, it's to get around time-shifts because of different broker times. There is no magic line on the 4 hour chart where price turns on the 15 every time sorry guys. Have you never read 'Fooled by Randomness'?

If all you're showing is higher highs higher lows etc, nothing new under the sun. If you're showing something else, please explain. Ta.

[arkan1976]

Hello Doji, thankyou very much for your explanation.
Would be correct this chart with your rules ?
1hour analysis.

5min (entries)