A fresh start! Doji's Trading Journal

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dojirock
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Postby dojirock » Wed Apr 03, 2013 11:36 am

Unless that is a very quick scalp, its dangerous trading int ot the hourly zline there going short. I would have put my stop there and been long. But I realize we all trade different time frames.


LegendofZline wrote:I will do this challenge. But first what you think

First found bias

Image

Lower tf find entry when above ema

Image

Thanks for any input
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
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Postby dojirock » Wed Apr 03, 2013 11:46 am

Hi Legend,

Its not a matter of pass or fail due to we all see price action differently. My reason for asking this and doing this exercise was to see how many are close to what I do and to see, and if some are over thinking the whole process. I can draw lines all day long but if you guys don't understand why I drew them or why you draw yours for that matter, maybe its all for null.

Let me start by saying, your lines are the closest to what I have drawn. If you look in the upper corner there is a "11" which was the max lines I could possibly draw due to how i see them and would draw them. I say max because there is an area in the center that really is just consolidating so two of those lines could have been eliminated. I put that 11 up there , kind of hidden so you guys wouldn't think I was making all this crap up. I still get those idiots that are not believers. lol

Nice chart!


LegendofZline wrote:
dojirock wrote:A number of traders have a problem defining what momentum is, zlines (s/d) actually are and how to use them as a bias.

Just a little inquiry. How many zlines would you draw on this chart?
Post it, I would like to see how many different variations we get.

Thanks!
dojirock


What do you think? Fail or Pass


Image
"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 dojirock » Wed Apr 03, 2013 11:51 am

Nice post,

Please input as long as its price action. I remember when I discovered or understood what all the guru's meant when they said that it takes force, momentum to move away from a zline(area) and also to break thru a previous area. It seems so simple yet its so easy not to see it clearly and understand that's the key in conjunction to zlines. When it happens, price comes back to suck all the noobs into a trade. By that time the big boys are already buying as price moves down and as soon as the sellers run out price takes off.


pariah wrote:Hi Legend,

Not to usurp Doji's thread and its contents, however; I look for 'momentum' candles.

'Momentum' aka larger candles - relative to the other candles in an area indicate 2 things:

1. Crossing of a S/R line - becoming new S or R

And

2. Stopping at S/R line.

Its very strange how S/R levels correlate with 'momo' candles. Often you will find 'momo' at the beginning of S/R.

** Currently, as I'm spending upwards of 10 hours a day looking at some kind of candlestick chart - my mind is able, I believe, to identify clusters of supply and demand areas automatically. S D areas appear at key S/R lines.

From there, I just look for 'momo' away from that line/cluster - and trade in that direction.

Hope this helps.
"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 dojirock » Wed Apr 03, 2013 12:02 pm

Hi News,

Your right, the sema's have nothing to do with this exercise. See how easily they can take the focus off price action?
Like I said, there is now right or wrong answer, but this is the bias time frame and bias would not change unless there was a "close over" on the next time frame up. You are correct in saying I would use the 5 min as the entry time frame.

Im at a bit of a loss...on your lines. I cant define why you draw your lines per a criteria that seems to fit all the time. They seem like to me you may have random or various ways of drawing them.

Now does this mean they are wrong?...no, not if you can trade them.
I use two colors just to avoid confusion while trying to explain how I see what I see, and also if I were to turn off the candles, I could with good certainty still trade based on my colored lines.








newscalper wrote:I'll bite
Image

I wasn't considering if'/when the bars broke as another poster has, I've drawn the lines as they would have been. I assume these are lines to trade on the M5 as it's usual to trade lines from a higher TF tha nthe one you're looking at otherwise you won't get the range/r:r/whatever. If the answer is to be the only ones of interest are where the semas are...consider the semas were not where they are now at point of drawing the line.
"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 dojirock » Wed Apr 03, 2013 12:09 pm

Hi True,

Thanks for contributing. I must say your chart is interesting. Not wrong, again if you can trade it that way. Imagine the draw downs would be significant though based on one line.

Try this, explain why and how you draw a zline. this being a bias chart for this exercise, not interested in entries right now.


trueblueTEX wrote:Well, I have been following this for some time now. I don't recall 'bias' being talked about so much here so I guess I have missed something.

I suppose that my meager contribution to doji's contest will demonstrate I have a lot o' learnin' left to do :-)

Here, I offer up my finger painting to the Rembrants:
"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 dojirock » Wed Apr 03, 2013 12:15 pm

Thanks guys,

Again, just it was just an exercise to get some of you thinking about your lines and what they mean.

I can tell you this, I draw mine the same way all the time now. I say now due to my thread has progressed since day one. So there will be variances on how I drew them in the earlier part of this thread, more like News.

Can you define how you draw them, is it the same every time. If its not then I challenge you to come up with a way that it is. If your way of seeing s/d, zlines, is different without form. How can you trade it with consistency?

This was my chart...feel free to ask questions
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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 dojirock » Wed Apr 03, 2013 12:16 pm

addition,

Sema's are just there for reference to make it easier to tell where we are when observing the chart.
"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 newscalper » Wed Apr 03, 2013 12:33 pm

dojirock wrote:Hi News,

Your right, the sema's have nothing to do with this exercise. See how easily they can take the focus off price action?
Like I said, there is now right or wrong answer, but this is the bias time frame and bias would not change unless there was a "close over" on the next time frame up. You are correct in saying I would use the 5 min as the entry time frame.

Im at a bit of a loss...on your lines. I cant define why you draw your lines per a criteria that seems to fit all the time. They seem like to me you may have random or various ways of drawing them.

Now does this mean they are wrong?...no, not if you can trade them.
I use two colors just to avoid confusion while trying to explain how I see what I see, and also if I were to turn off the candles, I could with good certainty still trade based on my colored lines.








newscalper wrote:I'll bite
Image

I wasn't considering if'/when the bars broke as another poster has, I've drawn the lines as they would have been. I assume these are lines to trade on the M5 as it's usual to trade lines from a higher TF tha nthe one you're looking at otherwise you won't get the range/r:r/whatever. If the answer is to be the only ones of interest are where the semas are...consider the semas were not where they are now at point of drawing the line.


no, they are absolutely not random at all, the basis is some kind of momentum re what we talked about in pm and the line is drawn from where it breaks out of the high/low, which is what a z-line is?? A breakout? See profit etc

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Postby pariah » Wed Apr 03, 2013 1:05 pm

Some other thoughts...

Visualize where you think price will turn.

The shaded areas are just areas I THINK price will turn. They won't necessarily reverse at those levels, so my analysis now is to wait for a bias.

If price closes red next candle, I will short. If it keeps going up, I will continue to wait until I get my red candle.

I'm looking for a short bias until 825. If price crosses 825. I'm looking to buy.
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cwn6161
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Postby cwn6161 » Wed Apr 03, 2013 1:14 pm

pariah, that is a great explanation. I just got flashbacks of mighty zones :)

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