A fresh start! Doji's Trading Journal

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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.

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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!

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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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Postby MightyOne » Sun Apr 07, 2013 7:21 pm

trueblueTEX wrote:
seacap wrote:Ok Doji, your explanation is clear. One question though. Your top line was tested and you went long. But soon after price closed below that line. Does it change our bias to short or we do not look at this line after it was tested once?

dojirock wrote:Once my zlines are drawn. I stated I move up one time frame. It takes momentum to break a zline. I want to see 1hour or higher momentum break these lines before going short.

The 1st, bottom zline has had no return yet...so we skip it.

The next zline has on this hourly chart an attempt to retest it with a result of failing to do so. A down candle, a up candle. Since this line failed...I go long. Keep it simple.

The next zline has an attempt also, it gets wicked then a up candle. Another fail, I go long. Keep it simple.

The vertical lines are just to show points of reference from when the zlines were drawn so we can see that when we switch time charts.

Did you notice looking at the 30 min chart price did close below the line? It fools you. We want to see a stronger momentum. Thats why I personally move up a time frame.

Still with me....

??


Seacap,

If I'm reading this correctly, while the last (top) long zline was broken, there was a new m15 short zline created (upper right) before the H1 break of the most recent long zline. And immediately after the close under, a new m15 short zline is created again and it fails before doji's second long arrow.


Of course, I suppose you could have shorted at the close under and go down to the next zline (which is indeed where price went) and then turn around and go long like doji did at the second up arrow.

Comments on my chart markup??

I'm not 100% certain I've used the correct terminology in my comments above (I didn't use words like "fail" for example.) edit: whoops, yes I did say "fail" just not sure if I used it correctly!!

THIS IS TRUEBLUETEX's chart that I marked by hand.
Image

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Postby MightyOne » Sun Apr 07, 2013 8:33 pm

Found S/D levels in green, red is S/D shifted to the midpoint.

Image


and then you remember how options are priced and it all makes sense...

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Postby dojirock » Sun Apr 07, 2013 8:35 pm

Nice pic mo...

guys, trading is about observing for me after I understood price movement. This is why discretionary traders have more tools in there tool box to get the job done. 3 candle runs, shifting cc, My stop is 15 or a close against me on a majority of trades. I say majority, because if im up 90 pips for the day I can afford to cushion it a bit...most of the time its the 2 on a 123 setup.
"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 pariah » Sun Apr 07, 2013 8:37 pm

92 pip day on Fri.

Getting the charts ready for this week. Lines/Boxed areas are just areas of interest. They're not perfect, but good enough to let me know if price will reverse or continue through.

Close below or close under m30 - rat off m15. - Although, price could always go up... 8)

I finally understand 'bodies in the direction of profit, wicks in the direction of loss' 'Wickdolls' if you will - to help you determine momo, retrace and continuation.

Lines are important, but one could literally scalp their way to fortunes just by understanding and recognizing Wickdolls...
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Postby dojirock » Sun Apr 07, 2013 8:42 pm

Many of you are probably thinking by the time bias shows up you have missed the run. Not so...this is just a beginning. All thoses bias zlines originate where old ones are broken thus giving the confirmation at the bottom. Shifting 3cc also gives you every possible s/d based on a bias time frame. It might not show up for 100 pips on one, but it could show up 60 pips lower with a shift. I failed at 3cc's originally due to I still didnt understand zlines correctly and price action. What I thought fit before seemed to but didnt work, that told me my understanding had to be wrong or MO was lying. lol (No, my mind didnt even go there MO) But now I know with the correct understanding of zlines, it still fits and works with MO's 3CC.... Thats Awesome!

Mo I know I have said it before, but I will say it again. THANK YOU for not leaving us behind!!

: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!"

cwn6161
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Postby cwn6161 » Sun Apr 07, 2013 8:42 pm

MightyOne wrote: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.


I had tried HA for some time but was always confused in areas of congestion. The bar patterns are easier to see IMO and give you nice places to stop and plan for future movement.

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