A fresh start! Doji's Trading Journal

If you don't know where to start, start here! Don't be afraid to ask questions.

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dojirock
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Postby dojirock » Fri Apr 26, 2013 4:17 pm

You guys are right on track! Good job...
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"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 » Fri Apr 26, 2013 4:41 pm

not sure about some of those lines on those charts, maybe I'm doing them wrong?

H4 outer boundaries
Image

H1
Looking for break of Z and momo, don't want to trade too near into a 4


Image

Failure of H1 Z and target H1 or H4

Image
XX = got spanked

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dojirock
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Postby dojirock » Sun Apr 28, 2013 12:06 am

Guys, please ask questions here in the forum so you all can benefit from learning. I can guarantee you if you have a question your not the only one asking.

Thanks!

These are some questions I get asked all the time for clarification.


"Close above, close below
All zlines are drawn on opens of candles....

[highlight=red]All my zlines are a line that makes an open of a zone. They are always drawn across the open of one candle and the close of the candle next to it of opposite color.[/highlight]

All my zlines have a color change.....

[highlight=red]Like I said above, my lines are drawn on a red-green candles or green-red candles. Never green-green or red-red.[/highlight]

It takes momentum to break and or move away from these lines.

[highlight=red]Once a zline is formed and the zone is visible, we trade away from that zline until at some point price comes back and crosses that said zline and closes on the opposite side.
[/highlight]

Take your zline...it is your bias, your fortress until it is broken by the hourly time frame. What is broken?

[highlight=red]What messes everyone up is this?.. lets say you draw a zline, by the time you can draw it and confirm it as a zline zone, the move is over. What traders don?t understand is when price comes back and closes on the opposite side of that said zline, it is considered broken. I trade away from broken zlines. Once it is broken that becomes the zlines true direction, trade away from it.[/highlight]


Let me count the interpretations...lol It?s a close over that zline....
[highlight=red]Another thing hard to explain on the forum. Once the zline is formed, what matters is when price closes back across that line. Just an alternate meaning of the above but hopefully a clearer interpretation.[/highlight]
"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 dojirock » Sun Apr 28, 2013 12:08 am

It?s a close over that zline by the hourly candle....It?s not a close over that line by a 30 minute or less, that will be or could be the wick to draw you in. It?s not anything hourly or above that crosses that zline without closing across it.
Remember I am only talking bias.

[highlight=red]Any break of a zline, a crossing over of it, is your new bias! I use the next time frame higher as a confirmation due to many lines do get crossed over by lower time frames in which end up looking like a wick on higher time frames.[/highlight]

All my short zlines are ONLY drawn from bullish candle opens.
All my short zlines are ONLY drawn from green candle opens.
All my short zlines are ONLY drawn from UP candle opens.

[highlight=red]All of the above is the same, just 3 different ways of saying it.[/highlight]



All my long zlines are ONLY drawn from bearish candle opens.
All my long zlines are only drawn from red candle opens.
All my long zlines are only drawn from DOWN candle opens.

[highlight=red]All of the above is the same, just 3 different ways of saying it.[/highlight]
"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 12:17 am

? In some examples, Long zlines are not drawn using bearish candle opens. See chart below:
Q: Why the lower bearish (Red) zline? It hasn?t been drawn from a bullish candle open.

Ok, this might be some of the confusion. When I say bearish, it has nothing to do with the candle formation to me.
Bearish to me is any red candle. Vice versa for bullish, they are just green candles.

? There is the implication that a zline should be drawn after any sequence of like coloured candles. Is that the case?

No, I only draw off of red-green or green-red. Not like colored. Now let me point this out, 2 green candles on a hourly time frame with a line drawn on the open and close, drop a time frame or two, tell me what you see?

? Your definition of failures and retests.

My definition is this, failures and retests, are the same thing?failure to cross back over, retest the line without closing back over. I use the work break and broke to explain the crossing over of a zline.

? What are the Rules to confirm long/short zlines?

Again, simplest way I can say it?. A long zline is formed and confirmed when the following happens-
You need to have a red candle close higher than the previous red candles open. When this happens, it can?t possibly be confirmed until we have a green candle close. At that point, that zline is confirmed and the distance between the red candles open and close becomes the zline zone.

A short zline is formed and confirmed when the following happens-
You need to have a green candle close lower than the previous green candles open. When this happens, it can?t possibly be confirmed until we have a red candle close. At that point, that zline is confirmed and the distance between the green candles open and close becomes the zline zone.
"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 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.
"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 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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"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

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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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