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

pariah
rank: 50+ posts
rank: 50+ posts
Posts: 59
Joined: Wed Mar 20, 2013 4:39 pm
Reputation: 0
Gender: None specified

Postby pariah » Thu Mar 28, 2013 3:40 pm

Sitting here with my Grande Americano and everything just clicked.

I get it.

'All you need is a horizontal line'

'Bias'

'Space protects you'

'Lots get you there faster'


I get it.

Thanks again.
Attachments
1.png
1.png (20.5 KiB) Viewed 451 times

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

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5247
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Thu Mar 28, 2013 5:49 pm

"Cut your losses short and let your profits" run should read:

Reduce your risk and maximize your lot size prior to the long term range expansion.

Lots don't simply "get you there faster", they are an ingredient used to create Space itself:

If you make 20 pips at 5 lots and TP w/ 1 lot then you have 25 space
(5/4) * 20
If you make 20 pips at 12 lots and TP w/ 8 lots then you have 60 space
(12/4) * 20

Picture of what this "extra Space" looks like on a M1 chart:
Image


A pip is a pip and we all trade the same chart (a trade is an entry on every chart), but we do not have to be at the mercy of a chart.

The greater your skill of manipulation the easier it is to make money.

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 Mar 29, 2013 4:01 am

News, from all your post, it seems to me that where your missing "something" (its just my guess) is knowing

and understanding bias still. It seems to me every time you think you see bias that you feel your trading

into another area, and from there it flip flops back and forth till you don't know what end is up? Am I close.

For me this was the hardest part to understand do to interpretation and the hardest part to teach. The things

I once thought I understood seemed to hold true to mentors statements but seemed to be so darn difficult

or seem like a riddle. Now knowing what I know, it also seems to fit what they had been saying all along, it

was just the interpretation that was wrong. This is why in my thread I try to explain in different ways. Its all

the same just different ways of explaining it. Believe me one day, something minute said will trigger

everything for you and others struggling now. Examples of this are the BB's, looking left, I don't trade the

BB's but it helps weed out all the bad areas that have no significance. MACD, same thing, blue line above

the waterline, histo's below the water line, look left....its showing areas.... Momo, zlines, same thing. It takes

Momentum to break and area and a zline, we don't enter until price zeros out. 123 entries, same thing it

shows areas. We must observe these areas to recognize them, once that happens then you can see them

everywhere with any indicator, because the lag, you look left..they are there, the indicators become a

confirmation if that's what you need. That's all they should be used for. Even ma lines where price comes

back and bounces off them, look left, its there. I was teaching a friend this week on the indexes, NQ100 and

ES I had showed him all of these things and he still has this look of confusion. This is one on one teaching

mind you, which is a lot easier than forum learning. He explains what he is doing back to me and he has all

the pieces but assembles them wrong. It came down to the bias. So I told him this, "Draw a line, a horizontal

line, on a given time frame".(he picked the hourly)"You can only go up 3-4 times that time period and that

is used as your bias chart".(2,3or 4 hr chart) "Look at your line. When price breaks that line to the upside,

go to the next step". (his horizontal line from the 1hr chart is now on a 4hr chart)The next step is at the

break and close, over that line, proceed to next step which is the entry time frame. What is the entry time

frame? Its always a time frame lower than your "line"time frame. Meaning, 30 min or 15 min, or 5 min. He

looked at me and got this big smile. It was the most wonderful thing when he finally understood what price

was actually doing. Why did it take that and not all the other ways I showed him? I don't know? Its different

for everyone! Why am I rambling now about this? Because exactly what I just said above to him caused

everything to click for him, I am hoping it will for you or someone reading this thread. To me the other ways,

MACD, BB zllines, seemed easier. I had my aahaa moment when pro showed me the bbs. Do I trade BB's,

no...but it gave the little piece of interpretation I had been missing for the way my brain is wired. This above

situation worked for my friend and he is 4 days running now with no losses... It is exciting for me as him to

see him accomplish this after 100k in losses and seminars and systems(which he has shelves full of)over

the last 10 years, to see him have success now at age 74. This is why I spend time teaching. This is why I

admire Mighty Ones abilities and time. This is why and how I pay it forward.



newscalper wrote: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
Sorry about the link - my browser won't copy it properly atm
: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!"

User avatar
newscalper
rank: 1000+ posts
rank: 1000+ posts
Posts: 1068
Joined: Tue Oct 19, 2010 5:58 pm
Reputation: 0
Gender: Female

Postby newscalper » Fri Mar 29, 2013 12:31 pm

Thanks Doji :)

That's a lot of writing :)

Yeah, I'm a dumb *censored - swear word* :)

OK.
Draw a line on H1 - what's the basis for drawing the line? A random line, big round number, support, resistance, swing hi/lo, supply demand, dragon line, momo failure, last bar open, close, high, low; what? :)


See H4 bar break the line and close to one side of it, yeah cool: any bar or a momo bar?

Drop to M15 to look for entry, OK but again, what: not defined - has to hit the line and limit entry, rat, what?
Basis for take profit? Return to previous high/low on which TF?

Higher timeframes? Trading into sup/dem levels on those? Disregard?

User avatar
newscalper
rank: 1000+ posts
rank: 1000+ posts
Posts: 1068
Joined: Tue Oct 19, 2010 5:58 pm
Reputation: 0
Gender: Female

Postby newscalper » Fri Mar 29, 2013 12:58 pm

Thanks for the help btw. I don't say thanks enough. Forgive me :)

Going back to the old Dragon template is what you're saying basically this?
Ticks are entries, x exit, thumbs down = losing trade
That's not working, photobucket a nightmare lately. Maybe something to do with the new Flash.

[img][img]http://img545.imageshack.us/img545/5219/satingthis.png[/img] Uploaded with ImageShack.us[/img]

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

FXfreak
rank: 150+ posts
rank: 150+ posts
Posts: 366
Joined: Fri Apr 30, 2010 6:46 am
Reputation: 0
Gender: None specified

Postby FXfreak » Fri Mar 29, 2013 1:43 pm

hi guys,

i wasn't online very often here at kreslik because my normal job took all the time.

i tried to trade m15 at work but things change too fast and it is impossible to react at work.

i will contribute my trades to this thread next week. I trade h4 and daily zlines with h4/d bias and m15/h1 as entry.

@doji or dragon: dragon wrote on p2 that he wants to see a h1 momo and that he enters a t the rejection of the h1-momo near a d/h4-zline. i found that very difficult because price often is too far away from the zline after a h1-momo is formed. i often enter near a h4/daily-zline after i see "some kind of momo". sometimes it is a m15-momo, sometimes a m15 or h1-doji. how do you handle it that you are not too far away from the h4/d-zline?

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 » Sat Mar 30, 2013 4:30 am

eeek.... lets start with a clean chart..... 12 ema for a no brainer entry and a horizontal line (a true zline).

newscalper wrote:Thanks for the help btw. I don't say thanks enough. Forgive me :)

Going back to the old Dragon template is what you're saying basically this?
Ticks are entries, x exit, thumbs down = losing trade
That's not working, photobucket a nightmare lately. Maybe something to do with the new Flash.

[img][img]http://img545.imageshack.us/img545/5219/satingthis.png[/img] Uploaded with ImageShack.us[/img]
"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 » Sat Mar 30, 2013 4:34 am

Using a 30 min chart as a bias chart. Notice my zlines.
You need to observe.
Attachments
eurusdm30kr.png
eurusdm30kr.png (52.4 KiB) Viewed 529 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 » Sat Mar 30, 2013 4:36 am

So what have you looked at on that last chart.
Im hoping your answer was the horizontal zline and nothing else.
Did you notice a close across the zline?
If you answered yes, your not listening.....
start over.
"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 » Sat Mar 30, 2013 4:39 am

Those lines were drawn before we know what price action will do.
Now move up a time frame to the hourly and observe.
When price closes across the zline, THIS IS OUR BIAS.
If the next candle closes back across our zline, that is our new bias.
Attachments
eurusdh1kr.png
eurusdh1kr.png (56.82 KiB) Viewed 527 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!"

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


Return to “beginners forum”