A fresh start! Doji's Trading Journal

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pariah
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Postby pariah » Fri Mar 22, 2013 5:09 pm

I thought I posted this earlier...

I"m sitting in a lecture/lab right now, zzzzzzzz - posting on Krelik as Fx is by far more thought provoking...

UJ -

This bias concept is quite fantastic. Price on UJ had already dropped to the TP level.

I'll continue to trade a buck/pip next week, then up the lots accordingly - hopefully.

cheers
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pariah
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Postby pariah » Mon Mar 25, 2013 1:53 am

Waiting for Bias. Potential short.
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pariah
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Postby pariah » Mon Mar 25, 2013 7:05 am

Previous EU chart made 8+ pips, after I saw some live wicking to the upside.

Currently in UJ...Short. Target Demand around 94.5 area. Then Buy again if Bias confirms price leaving Demand to the upside.

I propose that trading off demand as price enters immediately - will also yield pips. Drop base Rally scenario.

Getting a bit ahead of myself, I'll have to see if this trade will actually make it to Demand.
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pariah
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Postby pariah » Mon Mar 25, 2013 7:22 am

Took EJ too.
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pariah
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Postby pariah » Mon Mar 25, 2013 12:39 pm

Last few trades closed nicely.

In on EU now.

Didn't wait for bias. Volatile mornings won't give me the best entry price. Hit Dem area, in. +6 pips now.
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MightyOne
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Postby MightyOne » Wed Mar 27, 2013 5:21 pm

pariah wrote:Last few trades closed nicely.

In on EU now.

Didn't wait for bias. Volatile mornings won't give me the best entry price. Hit Dem area, in. +6 pips now.


"Didn't wait for a bias..." -pariah

The market is either above or below something at all times; it can be above and moving sideways or below and moving sideways but it is always of one direction or the other.

Support/Resistance does not support/resist anything at all; it ALWAYS FAILS and that failure lets you know the likely direction of the trend (expansion).

"...Volatile morning won't give me the best entry price..." -pariah

Your entry price means very little; it is all about the placement of your stop and how many lots you can buy before you take profit:

Image


Trading is not about entries, it is about POSITION (00) and LOT SIZE!

There is no measure of safety without space and there is no money without lots.

"...Hit Dem area, in. +6 pips now." -pariah

I believe it was in, the book, The New Market Wizards where there was a story about a technical analyst who was trying to explain to his superior that price should stop at x.

The superior replied by, basically saying "that's bullshit", picked up the phone and ordered the broker to short millions of xyz.

To the horror of the technical analyst, the market continued to drop & the superior said, "If I can do that, ANYONE in the world can do that".

-Something to think about :wink:

pariah
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Postby pariah » Wed Mar 27, 2013 6:17 pm

This is how I've interpreted the information.

Bias

Retrace

Confirm m15 (buy)

I"m concerned about the Supply area just up top there. Is price expected to break Supply given the h1 momo Bias? Advice would be welcome.
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Postby pariah » Wed Mar 27, 2013 6:37 pm

Hi Mo,

I'm so new to these concepts that I haven't had time to process other ideas.

1. The terms 'position', 'adding lots' - that bizarre 'fib' indicator have no meaning in my limited trading world view as I'm currently struggling to grasp the concepts outlined in doji's thread.


2. To be honest, my only understanding of and which convey meaning to me of what over or under 'something' means - is supply or demand areas. If price closes over an 'area', price is expected to continue beyond that said area. I've coupled the idea of bias with the over under concept. Seems to be working...

3. The image you posted looks quite impressive, but it is as good as greek to me at this point in my learning. 'Space', 'adding lots' sound like things which would improve my performance. I will hopefully get that kind of understanding soon.

Thanks for all your help.

Zakk.

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newscalper
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Postby newscalper » Wed Mar 27, 2013 6:58 pm

I think Mo might be referring to support and resistance always at some point failing and that when to capitalise - close under something close over something - i.e. if you see down momo fail (is), with up momo, then you can go long. Are you trading continuation or reversal - you're always doing both depending on which TF chart you look at. Your only reference is you LIS and your position. Is it going u or down....both at al times, which is why I always get as confused as *censored - swear word* :lol:

It all depends on your point of reference. USJPY is a great example right now. MOMO on H4 is holdng and you can say 'trade the smaller timeframes short while it still holds. Great but you're trading right into an older supply level apparent on the daily and the daily is in a massive uptrend too. So by that reconing, it isn't down until demand on D1 fails and it isn't up until supply fails on H4. but if youre trading on the basis of H1 and less you've got room to get in and out between the levels.
Image
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MightyOne
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Postby MightyOne » Thu Mar 28, 2013 4:06 am

pariah wrote:Hi Mo,

I'm so new to these concepts that I haven't had time to process other ideas.

1. The terms 'position', 'adding lots' - that bizarre 'fib' indicator have no meaning in my limited trading world view as I'm currently struggling to grasp the concepts outlined in doji's thread.


2. To be honest, my only understanding of and which convey meaning to me of what over or under 'something' means - is supply or demand areas. If price closes over an 'area', price is expected to continue beyond that said area. I've coupled the idea of bias with the over under concept. Seems to be working...

3. The image you posted looks quite impressive, but it is as good as greek to me at this point in my learning. 'Space', 'adding lots' sound like things which would improve my performance. I will hopefully get that kind of understanding soon.

Thanks for all your help.

Zakk.


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