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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MightyOne
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Postby MightyOne » Tue Jun 25, 2013 6:30 pm

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ahmedalhoseny
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Postby ahmedalhoseny » Tue Jun 25, 2013 9:02 pm

Why Mighty this is a bad entry !!!

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MightyOne
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Postby MightyOne » Wed Jun 26, 2013 1:04 am

The basic idea, ahmedalhoseny, is body in the direction of profit and wick in the direction of loss.

If you cannot see it then click on a 30 minute chart and read the above.

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MightyOne
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Postby MightyOne » Wed Jun 26, 2013 1:43 am

Another example:

If you look at the M3 chart, you can clearly see that we are in an area of profit taking.

If I wanted to go long then I would take a look at D1, D3, D9, & pick one that looks the most promising.
I would then refer to M30 (over "something"?, generally closing higher?) and then look to M3 for an entry (over "something"?, generally closing higher?)

Trading is so easy:

Your stops are placed on large charts: D1, D3, D9, etc

You have multiple lot sizes of various "risk space" that determines if you can afford the position on large charts.

If the chart looks good and you can afford the stop then hit the entry button; you have plenty of time to be greedy, there is no need to max out right away.

As the large chart continues to move in the direction of profit then you increase your lot size.

I highly advise against trading nothing but small charts as it is a very rare individual who finds long term success doing this.

If you risk 4.5% per trade then you should risk 1.5% on small charts and set aside the remaining 3% for the long term direction.

There is so much to say, but nothing that hasn't already been said.

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MightyOne
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Postby MightyOne » Wed Jun 26, 2013 1:50 am

Short the pink box, TP on ZL:

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Just use your head...

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Postby Dan » Wed Jun 26, 2013 5:07 am

Thanks for the feedback, I see where i went wrong and should have closed when it went against me. But 1hr had closed higher than the zline area, price retraced to below 12ema and was at the 50% of the 1hr break out candle and couldn't close below it so I went long.

Mighty One, I understand your analysis of my chart and can see the 15min candles becoming smaller which should have alerted me to something being there, obviously it was this 4hr zline.

Trading might be easy for you but it's not for part timers like me buddy, working on it.
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MightyOne
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Postby MightyOne » Wed Jun 26, 2013 5:34 am

Dan wrote:Thanks for the feedback, I see where i went wrong and should have closed when it went against me. But 1hr had closed higher than the zline area, price retraced to below 12ema and was at the 50% of the 1hr break out candle and couldn't close below it so I went long.

Mighty One, I understand your analysis of my chart and can see the 15min candles becoming smaller which should have alerted me to something being there, obviously it was this 4hr zline.

Trading might be easy for you but it's not for part timers like me buddy, working on it.



You wouldn't want to use the 50% on that 4H candle as the candle is likely to induce profit taking and not short selling.

You might want to try something like this:

Image


Look at the average, notice that it is something in the direction of profit & take note of the wicks in the direction of loss; although you do not need wick-dolls, it is a very positive indication that you are moving in the right direction.

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Postby Dan » Wed Jun 26, 2013 5:46 am

The big bearish candle with the fibs, the 50% would be where I would like to trade towards once it pushes past the zline highlighted blue. Think we are on the same page..

Doji, Aud must be making your heart skip....

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dojirock
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Postby dojirock » Wed Jun 26, 2013 6:06 am

Finally, had the nerve
STack, Stack, STack!

Love days like this! Need more of them!
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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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dojirock
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Postby dojirock » Wed Jun 26, 2013 6:08 am

Does anyone have problems with the new chart save files being to large to post. Im having to crop all of my pics. They are .png format
????
"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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