A fresh start! Doji's Trading Journal

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MightyOne
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Postby MightyOne » Tue Jun 04, 2013 6:32 pm

Back to lesson number 1: POSITION IS EVERYTHING!:

Lot size is secondary and pips are simply a byproduct of waiting.

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onontsira
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Postby onontsira » Tue Jun 04, 2013 10:07 pm

Out...

(listening to this: https://www.youtube.com/watch?v=fcrWM1pHuJE

:D )
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newscalper
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Postby newscalper » Wed Jun 05, 2013 8:10 am

Has anyone else figured out the DA bars?

This is difficult to show as the bar had just ticked over and the new bar was coloured for up but imagine that bar wasn't there. Price was where it is shown - i.e. very much up but the bar is red. What is a trader to make of the bars changing colour?

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Postby newscalper » Wed Jun 05, 2013 12:00 pm

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Postby newscalper » Wed Jun 05, 2013 3:26 pm

I might have this wrong because the logic for one is opposite to the other but:
Bias long
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But
If you want to buy dips
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Postby MightyOne » Wed Jun 05, 2013 4:02 pm

You should never have more than 2 lines on your chart as more lines will just serve to confuse you.

I favor the LIS early in the trend up until just beyond the 1-2-3 breakout.

I use same color inside candles & color change late in the trend; waves 3 & 5.

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There is a time to actively trade a chart and there is a time to passively trade a chart by deciding to hold no matter what the short term picture is telling you.

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Postby newscalper » Wed Jun 05, 2013 4:51 pm

Hi Mo. Thanks :)

The lines are just for illustration of the past - at the time, yes there'd just be the one line there - well I've put 2 - one on the 'hump' of the 4 on one on the DA body at the peak

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Postby newscalper » Wed Jun 05, 2013 5:09 pm

This is what I mean with this kind of bar - to look at the weekly, you think 'down' or 'nice profit made short. when in fact price is WAY up and beyond the high extreme of the bar.

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You can't look at these things in hindsight and say 'profit'.

I know standard HA have similar issues but I don't think they go beyond the extreme like that.

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Postby Karma » Wed Jun 05, 2013 5:43 pm

If that was a line chart it would look very similar.

Do you really need the current candle to imagine what's happening between the previous close and the current price
"Profit is found in a thinking mind. If you come to this . . . with pen and paper in hand then you will fail to find the beauty that exists within yourself." - MightyOne

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newscalper
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Postby newscalper » Wed Jun 05, 2013 6:06 pm

Karma wrote:If that was a line chart it would look very similar.

Do you really need the current candle to imagine what's happening between the previous close and the current price

If the candles are a tool to keep you in the trade, and in this instance short. Then ..yes?

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