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

cwn6161
rank: 150+ posts
rank: 150+ posts
Posts: 276
Joined: Sun Feb 28, 2010 8:05 pm
Reputation: 0
Gender: None specified

Postby cwn6161 » Sun Apr 07, 2013 9:11 pm

I'm going to attempt to trade the daily with this, using the direction of the monthly candle as a bias.

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 » Sun Apr 07, 2013 10:04 pm

cwn6161 wrote:
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.


This is how I most commonly use HA:

Image


Can you tell what I am doing? :lol:

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 » Sun Apr 07, 2013 10:08 pm

dojirock wrote: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


How can I learn to simplify my trading if I do not have people who cannot understand me? :shock: :lol:

User avatar
trueblueTEX
rank: 500+ posts
rank: 500+ posts
Posts: 532
Joined: Mon Apr 12, 2010 4:38 pm
Reputation: 0
Gender: None specified

Postby trueblueTEX » Sun Apr 07, 2013 10:17 pm

Ok, I switched over to usdjpy and drew 3 long biased zlines on the m30.


At each level that an M30 bias line is "established/confirmed", do you then switch to M15 to look for an M15 zline in the opposite direction?

Then you wait for such an M15 zline to form and then be broken on the M15 then you buy on the open of the next 15min candle?

If no M15 zline in the opposite direction (short in this case) forms, then you just keep waiting until one does EVEN IF price keeps going up and moves to a new level and forms another M30 long biased zline?
Attachments
m30 usdjpy.JPG
m30 usdjpy.JPG (66.78 KiB) Viewed 319 times

User avatar
trueblueTEX
rank: 500+ posts
rank: 500+ posts
Posts: 532
Joined: Mon Apr 12, 2010 4:38 pm
Reputation: 0
Gender: None specified

Postby trueblueTEX » Sun Apr 07, 2013 10:20 pm

I finally find a short zline on M15 and go long at the up arrow.

If that is correct, I end up with 50+pips of dd before price actually goes up.

Am I still doing this correctly? :-)

Edit: actually I found TWO short zlines and go long on break of second...
Attachments
m15 usdjpy.JPG
m15 usdjpy.JPG (70.26 KiB) Viewed 316 times
Last edited by trueblueTEX on Sun Apr 07, 2013 10:28 pm, edited 1 time in total.

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

User avatar
trueblueTEX
rank: 500+ posts
rank: 500+ posts
Posts: 532
Joined: Mon Apr 12, 2010 4:38 pm
Reputation: 0
Gender: None specified

Postby trueblueTEX » Sun Apr 07, 2013 10:24 pm

MightyOne wrote:... Can you tell what I am doing? :lol:


Yes. Making more money than me and learning Chinese.
:lol:

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 » Sun Apr 07, 2013 10:49 pm

trueblueTEX wrote:
MightyOne wrote:... Can you tell what I am doing? :lol:


Yes. Making more money than me and learning Chinese.
:lol:


8) :lol:

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 » Mon Apr 08, 2013 2:07 am

All 3 shifts are short bias. Broken Long bias if you look left..I didnt draw the line. So where are we going? My stop is at the top.
Attachments
chfjpym5.png
chfjpym5.png (38.14 KiB) Viewed 442 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 » Mon Apr 08, 2013 2:09 am

3cc's
Attachments
chfjpym5.png
chfjpym5.png (47.38 KiB) Viewed 440 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 » Mon Apr 08, 2013 2:12 am

Can you see the red zline. This 5 min chart with 3cc could just be the trade to retrace back when the bias on the 30 min 3cc (m90) is actually still long. If it breaks that with momentum...were going down...
Attachments
chfjpym30.png
chfjpym30.png (37.26 KiB) Viewed 438 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”