A fresh start! Doji's Trading Journal

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dojirock
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Postby dojirock » Sun Apr 28, 2013 12:18 am

? Line timeframe 15Min: This is where you draw your zlines.
Short and Long zlines, for me there is a difference.

? Bias timeframe 1HR: Close above 15Min zline, think Longs, close below 15Min zline, think shorts. This TF you are looking for momentum to break through your zline.
1HR or 30 min, yes, this is one way. If a 30 min or hourly candle closes back across a long zline on a 15 min, that shows momentum to me. From that point it?s the new direction and I trade away from the backside of that zline.

? Entry timeframe 5Min: 12 EMA entry (looks like price wicks-in on higher timeframe)
Yes

? A zline is valid until broken.
Yes to me it is.

? Usually, after the 1HR momo breaks, and closes above the zline, price will have moved a fair amount. That is fine, since we are trading a retest of our zline (the point where ?held profit? has been eroded/zeroed out). Correct?
Yes, don?t feel like you missed the move, it?s the retrace we jump in on, the pullback back below the ema.

? Once in a trade, we continue to mark up our zlines (long & short) on the 15Min chart using the colour change rule. Correct?
Yes

? If Long, and a short zline can be drawn, wait to see if price will break and close above it, on the 15Min chart. If this is the case, your initial long bias will be confirmed. Correct?
Yes, bias stays the same on any time frame until a zline gets crossed over.
In order to clear up my confusion and allow me to get some sleep, I have marked up a chart with Long and Short zlines according to your criteria. Longs are the green lines, red for the shorts.
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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dojirock
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Postby dojirock » Sun Apr 28, 2013 1:39 am

? Like colored bullish candles, colour change to bearish candle. Draw a horizontal line from that last bearish candle open. This is my LONG Zline.


? Like Bearish coloured candles, colour change to bullish candle. Draw a horizontal line from the last bullish candle open. This is my SHORT zline.


? Confirmation for Long zline= Bearish candle with higher Close (choose the lowest candle in a series of like coloured candles).


? Confirmation for Short zline= Bullish candle with lower Close (choose the highest candle in a series of like coloured candles).


This is the most important part to how I trade. See you lowest long green zline on the left of the chart? That is wrong for the way I draw it. Ask yourself, did the white candle crossing thru your drawn green zline CLOSE higher than the open of the white candle where your zline starts? NO?Not valid on this time frame. I drew where it should be.
Now the one I drew, is the valid green zline. The white candle closed higher than the open of the previous white candle.
I also drew in a red short zline. To the left. This is what I trade. After it breaks(close above by the white) I enter long. A Couple candles later confirms my long zline telling me im ok in the direction im in. Im always trading zlines to the left?and the current one that are being drawn are my confirmation to the ones on the left that im correct.
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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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Postby newscalper » Mon Apr 29, 2013 10:25 am

Just went long EJ - late on the entry so watching it atm. Targ 1 the H1 zline at around 128,460

Chart in a bit

Dan
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Postby Dan » Mon Apr 29, 2013 10:26 am

Thanks for your persistence Doji, not many people would be this helpful. I think its the forum environment that confuses alot, one sentence can have a
different meaning depending on how you interpret it.

So your 5/15min entry, 30min bias and 1hr momentum is the same as Dragons 15, 1hr and 4hr?

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Postby newscalper » Mon Apr 29, 2013 10:56 am

Image


This is proving difficult, pb says copied to clipboard then when I paste nothing happens, does this very often :(

edit, and that's the wrong picture ffs :lol:

Image

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Postby newscalper » Mon Apr 29, 2013 3:42 pm

Did not enjoy the initial drawdown but still in as this line has held...so far

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Postby onontsira » Mon Apr 29, 2013 3:46 pm

dojirock wrote:I also drew in a red short zline. To the left. This is what I trade. After it breaks(close above by the white) I enter long. A Couple candles later confirms my long zline telling me im ok in the direction im in. Im always trading zlines to the left?and the current one that are being drawn are my confirmation to the ones on the left that im correct.


Hi Doji,

so you trade 2 zlines at a time:

i.e. Long: you wait for a "now invalid" former short zline that confirm the long one which occurs at the moment?

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Postby newscalper » Mon Apr 29, 2013 4:39 pm

Exit
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dojirock
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Postby dojirock » Mon Apr 29, 2013 8:20 pm

Dan wrote:Thanks for your persistence Doji, not many people would be this helpful. I think its the forum environment that confuses alot, one sentence can have a
different meaning depending on how you interpret it.

So your 5/15min entry, 30min bias and 1hr momentum is the same as Dragons 15, 1hr and 4hr?


Yes it is.... He's the one who taught me to trade this way! :D
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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dojirock
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Postby dojirock » Mon Apr 29, 2013 8:23 pm

A break of a short zline is my entry area and is followed by a newly formed long zline shortly after. If I get a break of a long zline, then I get a confirmation of a newly formed short zline in the same time period.
Once I feel im right, I add to or hold on my position.

onontsira wrote:
dojirock wrote:I also drew in a red short zline. To the left. This is what I trade. After it breaks(close above by the white) I enter long. A Couple candles later confirms my long zline telling me im ok in the direction im in. Im always trading zlines to the left?and the current one that are being drawn are my confirmation to the ones on the left that im correct.


Hi Doji,

so you trade 2 zlines at a time:

i.e. Long: you wait for a "now invalid" former short zline that confirm the long one which occurs at the moment?
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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