A fresh start! Doji's Trading Journal

[LegendofZline]

So far so good Legend.

This is the same chart showing long bias.
Im short to countertrend.
See how on the 15 min there are no long zlines, only short ones.
We need to see how far price will retrace.

Doji would you be in a counter trend trade on EU right now? break of 15zline up shorting toward 30min bias

[newscalper]

because we need a red candle for confirmation after my zline broke?

No. At the time of posting, your top line was not a z line.
The lower had not broken, a singe M30 bar breaking a zline you drew from M30 is not significant enough to signifiy a break.

[newscalper]

You need to refer to the graphic I keep posting 'this is not a line' and keep referring to it until you get it.

See the bottom line? That did not exist until ...13:00

[newscalper]

You now have a decent hourly close below something...thinking short..but short into what?



Is there enough range there for you to make anything.

Personally I'd wait for the close below the lower line because then it should fall.

Up lines broken by down bars = short
Down lines broken by up bars = long

Price has just broken one up line (good) but there's still an up line right below it.
It's now 11pm, going into Asia...wonder if there's gonig to be any volume or if it's just going to bounce around in this area?

[pariah]

During the last month, the most distressing aspect of trading higher tfs was the SL variable. I didn't like the thought of drawing down 15-20 pips to have it hit my SL.

Decided that a single tf m5 is enough. Take 5 -10 pips at a time, risking only a couple.

I'm a scalper. I like taking money off the table as soon as I see it. I don't like to lose, but when I do, I want to give as little back as possible.

Goal: 100 pips a day

How to get there:
a) Standard SD rules + odd enhancers

b) Make upwards of 20 trades per trading session.

I don't want to intrude on doji's thread, so I will probably start my own.

*Tight stops is my happy place* lol.

[LegendofZline]

Doji,

So basically we are trading towards zline and trading away from zline?

smaller tf shows the way... larger tf confirms direction.

[LegendofZline]

During the last month, the most distressing aspect of trading higher tfs was the SL variable. I didn't like the thought of drawing down 15-20 pips to have it hit my SL.

Decided that a single tf m5 is enough. Take 5 -10 pips at a time, risking only a couple.

I'm a scalper. I like taking money off the table as soon as I see it. I don't like to lose, but when I do, I want to give as little back as possible.

Goal: 100 pips a day

How to get there:
a) Standard SD rules + odd enhancers

b) Make upwards of 20 trades per trading session.

I don't want to intrude on doji's thread, so I will probably start my own.

*Tight stops is my happy place* lol.

pariah I would like to see how you would determine you sd rules + odd enhancers. Please let us know if you start your own thread.

I see momo but I don't get some lines that are determined....
Is it Pass bars opens and close passed by momo bar only at the peak before the move?

[newscalper]

During the last month, the most distressing aspect of trading higher tfs was the SL variable. I didn't like the thought of drawing down 15-20 pips to have it hit my SL.

Decided that a single tf m5 is enough. Take 5 -10 pips at a time, risking only a couple.

I'm a scalper. I like taking money off the table as soon as I see it. I don't like to lose, but when I do, I want to give as little back as possible.

Goal: 100 pips a day

How to get there:
a) Standard SD rules + odd enhancers

b) Make upwards of 20 trades per trading session.

I don't want to intrude on doji's thread, so I will probably start my own.

*Tight stops is my happy place* lol.

pariah I would like to see how you would determine you sd rules + odd enhancers. Please let us know if you start your own thread.

I see momo but I don't get some lines that are determined....
Is it Pass bars opens and close passed by momo bar only at the peak before the move?

S/D rules and odds enhancers are straight from Seiden, all good stuff but not how Zlines are drawn and one of the reasons so many people have been confused about it for so damn long.

This is a step by step explanation to draw z-lines


Note: M30 chart

Line 1
Red candle closes
Green candle closes
Green candle closes
Green candle closes
Green candle closes
Red candle closes
(= 4 green candles = 1 green combined candle)
Red candle closes
Red candle closes
Red candle closes
Green candle closes
(=3 red candles = 1 red combined candle)
Place green X over green candle = end of red combined candle = possible zline formed
Can we draw a green line. Where? Where was the breakout? (red green).
If we draw a line from here has the red combined candle closed above it?
If yes, draw green line


Line 4
Green candle closes
Red candle closes
Red candle closes
Red candle closes
Green candle closes
Follow further rules from above, if valid, draw red line

Now see H1 chart



Hmm.....I wonder why the overnight range was there?

From our M30 drawn zlines, to go LONG, price must break out of SHORT zline a good H1 closes?
Was there a good H1 closes above the RED zline?....maybe, maybe not

Further action

[newscalper]

Some more things I've been pondering: I'm not a scalper by nature and with good reason therefore trading in and out of a tiny range is not what interests me. I know the odds of doing anything with it are poor and you're paying most of what you make, if you make, to the broker.

If price is in a range and you see profit you want to trade towards, how do you know when price is moving out of the range?

It seems to me there will be a number of z-lines created both above and below price. Each time each one gets wicked it will get weaker. Whether one wick is enough to clear one...hmmm

But a clean break above or below the outer z-line after a series of the others being broken or wicked looks more promising...

[onontsira]

Trying to build confidence... not easy but it works ok until now...

1st entry should have been better...