A fresh start! Doji's Trading Journal

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newscalper
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Postby newscalper » Sat Jun 22, 2013 9:48 am

I really must get on GT I think.

Karma or anyone else, re adding please :)

Image


Sorry if I don't respond back - I'm off on holiday (vacation) today but wil look in when I can get on the net. Camping near the beach yippee. It's given rain most of the week :lol:

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Dan
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Postby Dan » Sat Jun 22, 2013 10:26 am

dragon33 wrote:
Dan wrote:I got about 30 pips from this one, I got out only because 30 pips is enough for me. Had I let it run anymore I would have given it all back which brings me to ask in ref to Dragons chart, what did you look at that made you take the third short entry? It's at a 4hr and 1hr support area and I wouldn't dare short it hence why I make 30 pips and you make over 300.
Nice to see you are posting again.


Why shouldn't i take the third trade. It is a clear fail on previous H1!!!


I just can't see what you are seeing, to me it looks like you are selling into strong prev support (third entry) the other entries are clear as day.

The 3 semfor to the left, the hourly hasn't closed lower than that area yet but you still enter short, how do you predict so well that the down trend you are riding will power through this area?

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bettlebox
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Postby bettlebox » Sat Jun 22, 2013 10:59 am

This might help you Dan, This how i see this setup on 4hr. That area you thought was 4hr zline is just bounce off bigger 50% level. Its failed to follow through on the breakout and required a deeper retracement all way back to 4hr zline the thick red line at bottom.



Dan wrote:
dragon33 wrote:
Dan wrote:I got about 30 pips from this one, I got out only because 30 pips is enough for me. Had I let it run anymore I would have given it all back which brings me to ask in ref to Dragons chart, what did you look at that made you take the third short entry? It's at a 4hr and 1hr support area and I wouldn't dare short it hence why I make 30 pips and you make over 300.
Nice to see you are posting again.


Why shouldn't i take the third trade. It is a clear fail on previous H1!!!


I just can't see what you are seeing, to me it looks like you are selling into strong prev support (third entry) the other entries are clear as day.

The 3 semfor to the left, the hourly hasn't closed lower than that area yet but you still enter short, how do you predict so well that the down trend you are riding will power through this area?
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

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bettlebox
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Postby bettlebox » Sat Jun 22, 2013 11:40 am

Remember price always moves in cycles of profit, and elmination of profit or action reaction.

Where you have breakout that is the process of creating profit, and retracements(pullbacks) are just elimination of that created profit.

Here is simplified version of that eurjpy trade in view of profit cycles.

There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

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dragon33
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Postby dragon33 » Sat Jun 22, 2013 12:24 pm

Dan wrote:
dragon33 wrote:
Dan wrote:I got about 30 pips from this one, I got out only because 30 pips is enough for me. Had I let it run anymore I would have given it all back which brings me to ask in ref to Dragons chart, what did you look at that made you take the third short entry? It's at a 4hr and 1hr support area and I wouldn't dare short it hence why I make 30 pips and you make over 300.
Nice to see you are posting again.


Why shouldn't i take the third trade. It is a clear fail on previous H1!!!


I just can't see what you are seeing, to me it looks like you are selling into strong prev support (third entry) the other entries are clear as day.

The 3 semfor to the left, the hourly hasn't closed lower than that area yet but you still enter short, how do you predict so well that the down trend you are riding will power through this area?


Maybe you will see it on this picture.

Image

First: compare de power of price (ie volume) the biggest candle on the screen is the H4 from the day before. This tells you something!!!
The level that you call "strong support" is just the opening of H4. Indeed a good place to get out BUT!!! First of all the upgoing H4 is NOT momentum but just a part of the range of the downmomentum!!!
Watch D1 this is just the beginning of the move down. When price is able to close over 127.77 then there will be another move down :twisted:
In this case price zeroed the start of the move on M15 level and bounced up, failed to close above previous H1/50% and that fail was the start of my third entry and closed just above support level 127.77!!!
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!

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MightyOne
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Postby MightyOne » Sat Jun 22, 2013 2:35 pm

newscalper wrote:I really must get on GT I think.

Karma or anyone else, re adding please :)

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Sorry if I don't respond back - I'm off on holiday (vacation) today but wil look in when I can get on the net. Camping near the beach yippee. It's given rain most of the week :lol:


What could I have said but Position before Lot Size & Lot Size before Pips?

A line is simply an IF and a THEN, that should be your understanding of a line.

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dojirock
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Postby dojirock » Sat Jun 22, 2013 4:50 pm

Watch for the color changes. They are your pointers in conjunction with the 50% line and or the 50% area of the zline zone.
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...."
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Postby bettlebox » Sat Jun 22, 2013 5:03 pm

Lol :lol: Doji are you reading my mind? i was getting alittle confused about 50% i was just thinking through in my head , you cleared it up.

dojirock wrote:Watch for the color changes. They are your pointers in conjunction with the 50% line and or the 50% area of the zline zone.
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

Dan
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Postby Dan » Sun Jun 23, 2013 1:37 am

Thanks for the tips guys. If I was trading that I would have waited for a close over this line, have to look a bit harder at these areas.
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dojirock
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Postby dojirock » Mon Jun 24, 2013 3:05 am

uj long..
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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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