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

pariah
rank: 50+ posts
rank: 50+ posts
Posts: 59
Joined: Wed Mar 20, 2013 4:39 pm
Reputation: 0
Gender: None specified

Postby pariah » Thu Apr 11, 2013 2:41 pm

Closed way too early on Swiss. And EU in retrospect, moved twice as far in the same amount of time. :x


Potential setup for EU. I won't trade until price gets up there.

Supply/fib/sell. maybe... :twisted:
Attachments
1.png
1.png (16.29 KiB) Viewed 349 times

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

pariah
rank: 50+ posts
rank: 50+ posts
Posts: 59
Joined: Wed Mar 20, 2013 4:39 pm
Reputation: 0
Gender: None specified

Postby pariah » Thu Apr 11, 2013 3:29 pm

Stop hunting at its finest.

Waited for reaction after price entered into area. Just sold. Making a few I hope.

The zone was good, I can't account for Stop hunting, and triggering orders prior to the news this morning.
Attachments
2.png
2.png (14.07 KiB) Viewed 331 times

User avatar
onontsira
rank: 50+ posts
rank: 50+ posts
Posts: 84
Joined: Sun Jan 22, 2012 12:01 pm
Reputation: 0
Gender: Male

Postby onontsira » Thu Apr 11, 2013 5:17 pm

Hi guys,

Got a question...

I first make analysis on high TF, and then trade from lower tf... with momentum once high TF candle closes.

At the moment, I trade from M5, with momentum once M30 candle close.

I got lag, that's my problem...

We know that momentum starts on small time frame, and that we are supposed to see it forming and go to an opposite higher TF ZL. I would like to know if it is possible to trade directly "in the wick", without waiting for the candle to be closed. Because if I want to trade H8, for example, instead of M30, and wait for the candle to close, my stop will be very far... (assuming I put my stop beyond the last extreme)

I mean:
1/ find a ZL on H8 for example (instead of M30)
2/ still trade from M5
3/ but more important: now targeting the opposite H8 ZL

Same small risk, but no confirmation...
Bigger RR ratio possible?... don't know if some here manage to trade like this. Is that finally the whole purpose of this concept?

What do you think?

:?:

ps: hope my question is clear enough because english is not my mother tongue :cry: :x

Thank you

pariah
rank: 50+ posts
rank: 50+ posts
Posts: 59
Joined: Wed Mar 20, 2013 4:39 pm
Reputation: 0
Gender: None specified

Postby pariah » Thu Apr 11, 2013 6:12 pm

ono

Momo, zlines, sd occur on any tf. The question is, how much do you want and expect to take.

On smaller tf's you are taking a few, Larger you are taking more.

Dragon said one time ~ price goes from zline to zline. I see it now as price going from s to d, and d to s.

When on higher tf's price will not go straight from s to d or d to s. Dragon in is past charts, bought and sold on his way to h4 zlines, but his larger targets (at the time) were from h4 zline to h4 zline.

I wish i had that chart to show you. Quite the eye opener.

** Started a futures account and scalping the heck outta CL today. Same concepts, only diff - i'm trading on the m1. :twisted:

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

Postby cwn6161 » Thu Apr 11, 2013 6:15 pm

What's the benefit to futures?

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

User avatar
onontsira
rank: 50+ posts
rank: 50+ posts
Posts: 84
Joined: Sun Jan 22, 2012 12:01 pm
Reputation: 0
Gender: Male

Postby onontsira » Thu Apr 11, 2013 6:40 pm

pariah wrote:ono

Momo, zlines, sd occur on any tf. The question is, how much do you want and expect to take.

On smaller tf's you are taking a few, Larger you are taking more.

Dragon said one time ~ price goes from zline to zline. I see it now as price going from s to d, and d to s.

When on higher tf's price will not go straight from s to d or d to s. Dragon in is past charts, bought and sold on his way to h4 zlines, but his larger targets (at the time) were from h4 zline to h4 zline.

I wish i had that chart to show you. Quite the eye opener.

** Started a futures account and scalping the heck outta CL today. Same concepts, only diff - i'm trading on the m1. :twisted:


Thank you Pariah!

In the meantime, I found this (quoted from Dragon):

Building up a momentum starts on the smallest frame there is. You can try to catch it while it is happening but that is some trading for in the future. You pick a frame! Lets say H1 as baseframe. Draw your zerolines on that frame. When price is around your line start seeking for M15 candles away from that line (compare the size against other candles, when they are bigger start drawing lines on the M15) watch carefully the pullbacks and use the ratentry or place limits (i prefer ratentry) It is still strange to buy when the market is giving you negative candles, but that's me.
I target always the H1 zerolines and make multiple entrys because of the size i play. I do not scale in my size. Seek what fits you the best. I dream of making several 100 pips at once but what i do is comfortabel to me and i do not have the patience to wait several days to make the right entry.

conclusion: starting with H1 zeroline to buy. Every M15 zeroline above that line is valid to trade AFTER price is rejected from the H1 zeroline. That way you can try to catch H1 momo in the other direction. Take smaller pips because you need to target every M15 zeroline on your way.

Once you have your H1 momo you know how it works


He mentionned "You can try to catch it while it is happening but that is some trading for in the future", that's what I would like to do but don't have
a high tf closed candle to rely on in that case, thus no "confirmation"... Will it be more risky than WITH a closed candle behind me?... And where to put my stop then?...

When I got a high tf closed candle, I put it beyond the extreme. If I trade M30 via M5, the SL beyond my M30 extreme is not that far, and the RR ratio is acceptable regarding to my target (which is the opposite M30 ZL).

If I now process the same way with H8 (entering after H8 close), the RR ratio will be quite the same I presume if I put my stop as usual. Because SL will be far, but also target. Should be the same.

But if I can enter "during" the future wick of a higher tf candle, still with M5, my RR ratio would be much better because my target is now far, and my stop is close. Make sense?

If I have nothing behind me except low tf closed candles, I may be stopped out more often? (because it is "guessing" where the extreme is located)

I miss something for sure

Maybe concerning the SL placement... :roll:

seacap
rank: <50 posts
rank: <50 posts
Posts: 31
Joined: Thu Apr 04, 2013 8:01 am
Reputation: 0
Gender: None specified

Postby seacap » Thu Apr 11, 2013 7:00 pm

Onontsira, what you describe here is the same method that Dragon, Es/pip, Seiden use. For example: find a demand/zl on 1h, switch to 5 min, find demand/zl there in the zone of 1h demand/zl, enter. Small risk based on 5min and good potential reward based on 1h.

FXfreak
rank: 150+ posts
rank: 150+ posts
Posts: 366
Joined: Fri Apr 30, 2010 6:46 am
Reputation: 0
Gender: None specified

Postby FXfreak » Thu Apr 11, 2013 7:26 pm

hey doji, what do you think about my current trade?
Attachments
gu.GIF
gu.GIF (9.21 KiB) Viewed 418 times

User avatar
onontsira
rank: 50+ posts
rank: 50+ posts
Posts: 84
Joined: Sun Jan 22, 2012 12:01 pm
Reputation: 0
Gender: Male

Postby onontsira » Thu Apr 11, 2013 7:27 pm

seacap wrote:Onontsira, what you describe here is the same method that Dragon, Es/pip, Seiden use. For example: find a demand/zl on 1h, switch to 5 min, find demand/zl there in the zone of 1h demand/zl, enter. Small risk based on 5min and good potential reward based on 1h.


Ok, so where do we place our SL?

Let me ask in another way: do we put our SL beyond the last H1 extreme (far from our entry) or beyond the last M5 extreme that made us enter?

I made a chart on 3 points. I think the answer is at 3/, but not sure...
Attachments
slplacement11042013.GIF
slplacement11042013.GIF (51.44 KiB) Viewed 415 times

pariah
rank: 50+ posts
rank: 50+ posts
Posts: 59
Joined: Wed Mar 20, 2013 4:39 pm
Reputation: 0
Gender: None specified

Postby pariah » Fri Apr 12, 2013 2:16 am

cw,

Futures trading is highly regulated. Watched.

Forex is still the wild west. Alot of these brokers aren't properly funded. Some fx brokers go broke. Others have been fined for (manipulation). While others are as legit as online sports betting sites. Forex is still highly unregulated, but the powers that be assure us that things are changing.

**50:1 leverage, no hedging... think about it. Most of these 'regulations' help the brokers, not the retail trader. :roll:

When a broker tells you they're interbank, be wary.

Treat FX as the training stage of your trading career. If you can make money in fx, you can make money in other more stable, regulated markets more easily.

CL futures trade like fx but trades are instant. Open, close, no lag, no slip. The SD concepts hold almost perfectly in futures. And I love my Sierra charts!!!!!

However...If you want to make easy cash, sell out of the money options. Collect insurance premiums weekly. Boring, but almost risk free. My friends are paying their college tuition by selling options. Not a bad gig.

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


Return to “beginners forum”