A fresh start! Doji's Trading Journal

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MightyOne
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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.

Image

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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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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Postby newscalper » Wed Jun 05, 2013 6:14 pm

Good this, making me think :)
Weekly line chart.
There a line, last down move, the week closes above it - reason to close shorts and look long.
HA bars are still saying short.

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On the daily
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Postby dojirock » Wed Jun 05, 2013 7:54 pm

Just one short today
Last edited by dojirock on Tue Aug 06, 2013 6:16 pm, edited 1 time in total.
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Postby newscalper » Wed Jun 05, 2013 8:52 pm

CLosed the second entry on cable for when it pulls back. 1st entry still open. up around 130 pips on the day. Shame size was smaller over all than yesterday :lol:

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Postby MightyOne » Thu Jun 06, 2013 12:13 am

newscalper wrote: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.

Image

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.


I use the Dragon Chin (avrg extremes) for breakout trading on small charts.

On large charts I turn on the bars and trade from the actual extremes.

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Postby newscalper » Thu Jun 06, 2013 8:09 am

Thanks MO.

I've actually seen something on the large chart with the Chin bars which might be what Karma was talking about. Unless it's just luck this week:

If a line a drawn at the previous weeks bar 'close' it can be used as LIS for this weeks action for bias up or down then using the m30 for momo/swings. The LIS is exactly the same price as the close under close over I drew from the line chart before at 51466. Maybe a coincidence but warrants further investigation? My 'idea' from it is the capture of the weekly range one :lol: Close out come Friday so not holding over the weekend.

Shame I closed out as cable still moving up but I can't watch the screen today

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