A fresh start! Doji's Trading Journal

If you don't know where to start, start here! Don't be afraid to ask questions.

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trueblueTEX
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Postby trueblueTEX » Sun Apr 07, 2013 5:38 pm

Hola, sen~or MO! Como te van las cosas? Aprendi' el espan~ol in Costa Rica y despues pasaba dos an~os en la Argentina donde me puse' tan porten~o que hablo el Castellan~o estilo argentino!

I don't know how to make ~ or ' appear over the letters nor know how to make upside down ?! marks.

I read Spanish short stories and am working on a novel by Manuel Puig.

I have a bunch of stuff for Homeric Greek and Old English but have not gotten into it, yet.

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dojirock
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Postby dojirock » Sun Apr 07, 2013 5:42 pm

True, your right....

I combine like colored candles....always have. You need to have a opposite colored candle to confirm.
It always takes Momentum to break Momentum!
"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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trueblueTEX
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Postby trueblueTEX » Sun Apr 07, 2013 5:53 pm

doji, do you get up and trade during the London session?

Do you focus on just a couple of pairs?

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dojirock
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Postby dojirock » Sun Apr 07, 2013 6:04 pm

I have transitioned to New York Session only. The late night Londons which is 3:00am here was killing me. I work 10 days 6 days a week.
But the switch to New York was one of my steps towards my goal of trading full time. But Im still adjusting. I have always been a nightowl.
It always takes Momentum to break Momentum!
"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!"

cwn6161
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Postby cwn6161 » Sun Apr 07, 2013 6:06 pm

just looking for some clarification here - arent all zlines trying to accomplish is just s/d areas and whether or not price respects the s/d and reverses, or blows through it and creates a new trend?

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dojirock
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Postby dojirock » Sun Apr 07, 2013 6:14 pm

yes, cwin your right on the mark.

That's all i'm doing, but using a higher time frame for a bias of s/d and a lower time frame to get the best price off the higher s/d.
Dragon does't the same, with 3 time frames.
I have known that for a long time, its coming up with a way you can recognize and pull the trigger while live trading that is the key. When I lose, my losses are small. Winners are bigger. But Im sure you can tell now how easy it is for me to hit my 20 pips a day minimum goal?




cwn6161 wrote:just looking for some clarification here - arent all zlines trying to accomplish is just s/d areas and whether or not price respects the s/d and reverses, or blows through it and creates a new trend?
It always takes Momentum to break Momentum!
"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!"

cwn6161
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Postby cwn6161 » Sun Apr 07, 2013 6:25 pm

dojirock wrote:yes, cwin your right on the mark.

That's all i'm doing, but using a higher time frame for a bias of s/d and a lower time frame to get the best price off the higher s/d.
Dragon does't the same, with 3 time frames.
I have known that for a long time, its coming up with a way you can recognize and pull the trigger while live trading that is the key. When I lose, my losses are small. Winners are bigger. But Im sure you can tell now how easy it is for me to hit my 20 pips a day minimum goal?




cwn6161 wrote:just looking for some clarification here - arent all zlines trying to accomplish is just s/d areas and whether or not price respects the s/d and reverses, or blows through it and creates a new trend?


It is interesting, because MO's description of s/d in terms of consecutive candles has really made some lights go on in my head. I can see larger/small consecutive candles, look for reverses or breakouts of those levels, and then look for price to zline that reversal/breakout.

cwn6161
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Postby cwn6161 » Sun Apr 07, 2013 6:32 pm

Not only that, but consecutive candles also allows for easy targets. If you trading a breakout to new highs, where is a wise place to exit? Shoot for the 3rd largest candle in a series!

seacap
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Postby seacap » Sun Apr 07, 2013 6:37 pm

Not much questions here, so I hope it is the time to move forward a little bit.
Doji, do you place stops?
You showed a zl entry method. Do you use other entry methods?

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Postby MightyOne » Sun Apr 07, 2013 7:06 pm

I used 3xCC to find S/D before switching over to a 2xCC for the sake of simplicity.

A question I often get is, "what if I don't get the patterns: large-smaller-smaller or small-larger-larger, how will I feel for S/D?".

The answer is that you really need multiple versions (shifts) of the same period:

For instance, you start with a day created from three eight-hour periods.
You then shift the start time forward eight hours for the second chart and another 8 hours for the third chart leaving you with three versions of the daily chart.

In 3xCC there are 3 shifts and in 2xCC there are two possible shifts.

As you have seen, it is possible to feel for S/D without shifts but you will often need to use a bit of added guesswork.

With multiple monitors your setup might be:

2xCC or 2 versions of a period to feel for S/D

Heiken-Ashi, Line Chart, & Point N Figure for a more rounded perspective

-The Bible says that many advisors (different perspectives) makes victory sure.

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