A fresh start! Doji's Trading Journal

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MightyOne
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Postby MightyOne » Fri Apr 05, 2013 6:20 pm

dojirock wrote:Same thing, Have a line of entry planned.
Get confirmation on lower time frame.


And then they realized that trading is easy... :shock:
when they don't fight price. :oops:

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FXfreak
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Postby FXfreak » Fri Apr 05, 2013 7:23 pm

hi doji, this is my trade from today.

i entered one candle after the arrow near the zline on a smaller tf.

i lost the trade. my question is: where is the zline which showed me that bias changed from long to short? where would you have placed your stop? where would you have closed the trade (was there an indicator for you to close the trade before sl was hit)?



thanks and have nice weekend!

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Postby trueblueTEX » Fri Apr 05, 2013 8:14 pm

dojirock wrote:2 nice trades on usd/cad
both based on 15 min zlines.


Hey doji, looking at this chart it looks like the zline was defined way to the left of the chart beyond the left edge.

could you put up a chart and mark
1) at what time you drew the zline (what was the last existing candle before you drew the zline)
2) and show where the zline was "defined"?

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dojirock
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Postby dojirock » Fri Apr 05, 2013 8:46 pm

Hi guys,

Please attach pics as files so I can download them and mark them up, its much easier. My eyes are getting terrible..lol

If I understand your comment, you said you dropped down a time frame to take an entry? This means that this pic , the hourly, is your bias screen. You tried to take a countertrend. I will post a screen shot in a bit to show the breakdown just as I would have traded it.

Hey heres an idea, you guys that got it this week...draw it up and give your perspective too....




FXfreak wrote:hi doji, this is my trade from today.

i entered one candle after the arrow near the zline on a smaller tf.

i lost the trade. my question is: where is the zline which showed me that bias changed from long to short? where would you have placed your stop? where would you have closed the trade (was there an indicator for you to close the trade before sl was hit)?



thanks and have nice weekend!
"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!"

FXfreak
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Postby FXfreak » Fri Apr 05, 2013 9:13 pm

doji, correct, that pic showed bias....

i traded after mbar-close long. why am i against the trend?

thanks!
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au.GIF
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dojirock
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Postby dojirock » Fri Apr 05, 2013 9:26 pm

FxFreak,

Here is the 1hr chart drawn up...to stay consistant, I will walk you through my though process. You did have a bullish zline(yellow).
This being on the hourly, I would look for a long. We then had two bearish zlines form on the hourly. This gives a a point of indecision.
You took a counter trend, which did give a few but that was it.
A number of post back I told you guys, go up a time frame and see if momentum will punch a hole in the floor, the hourly bullish zline(yellow). It did. This is my favorite setup, when 4 hour momentum bores through a 1hour zline, its momentum, it cant stop on a dime...im looking for shorts and I expect a nice trade out of it.
dropping to the 15 min or 5 min...Look and see the hourly zlines still drawn, but the 15 and 5 min are confirming that the short is king.
Look at the 5 min...the 3 sema, is known for landing on zlines also.
All of the short arrows for entry would be places I would look to enter...
I like to enter on up candles....
Attachments
audusd1h.gif
audusd1h.gif (15.46 KiB) Viewed 330 times
audusd4hr.gif
audusd4hr.gif (15.38 KiB) Viewed 330 times
audusd5min.gif
audusd5min.gif (21.27 KiB) Viewed 333 times
audusd15min.gif
audusd15min.gif (17.11 KiB) Viewed 333 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!"

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dojirock
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Postby dojirock » Fri Apr 05, 2013 9:32 pm

No, your trading into a short bias....that long bias line wouldn't have been drawn yet at the point you entered. 2 candles later when the line would be drawn and then a up momo bar would justify you going long.....

FXfreak wrote:doji, correct, that pic showed bias....

i traded after mbar-close long. why am i against the trend?

thanks!
"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 trueblueTEX » Fri Apr 05, 2013 9:39 pm

I hate to whine, but I'm an old fart and I still like to print stuff out and hold it in my hand.

Would it be too much to ask if we could use white or a light colored background on posted charts? I've just printed out LOTS of toner!! :oops:

Thanks for your consideration.

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Postby trueblueTEX » Fri Apr 05, 2013 9:50 pm

(true is back for remedial zlines :-) )

If we are drawing bullish zlines on the H1, why wouldn't we draw it like this:

?
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edit h1 bull zline.gif
edit h1 bull zline.gif (22.39 KiB) Viewed 295 times

FXfreak
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Postby FXfreak » Fri Apr 05, 2013 10:01 pm

thanks doji!

i understand your explanations that i'm trading into a short bias but why isn't my zline a zline? why would you draw it two candles later?

zline = red candle to green candle and strong green candle close above open of red candle. or am i missing something?

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