A fresh start! Doji's Trading Journal

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

Moderator: moderators

User avatar
dojirock
rank: 1000+ posts
rank: 1000+ posts
Posts: 1642
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 125
Gender: Male
Contact:

Postby dojirock » Tue Jun 25, 2013 5:58 pm

Dan, analysis for U/J, AUD/USD same but reversed...see pics

Good analysis. I assuming your basing it on the hourly time frame,
Broken 50 and 100 line. Thats correct so far. Be a little more conservative on the trigger when basing a trade on a hourly analysis. I use the color change . See how it appears to fail by moving back down, leaving a green, red candle? Entry would be as price moved back up and crosses the line for a long. If price moves back up but doesnt close above the line then take a short when the price closes back below the newly formed red,green candle.

your right I hope in just being to early. I am short on u/j and long on a/u banking alot on it right now. My reason is look left at the 4hr down momentum candle and fib it out with a 50 percent. All the 4 hour candles are failing to close above that 50 line(97.82). Could be a big short trade due to its a 4hr fail, in the next asian or london session. Just the opposite for a/u (98.50)

Be ready...

doji
Attachments
kr1.png
kr1.png (61.19 KiB) Viewed 523 times
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!"

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
dojirock
rank: 1000+ posts
rank: 1000+ posts
Posts: 1642
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 125
Gender: Male
Contact:

Postby dojirock » Tue Jun 25, 2013 6:11 pm

AUD/USD
Attachments
kr3.png
kr3.png (12.61 KiB) Viewed 514 times
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!"

User avatar
dojirock
rank: 1000+ posts
rank: 1000+ posts
Posts: 1642
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 125
Gender: Male
Contact:

Postby dojirock » Tue Jun 25, 2013 6:12 pm

USD/JPY
Attachments
kr2.png
kr2.png (13.96 KiB) Viewed 511 times
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!"

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5455
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 434
Gender: Male

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

Image

ahmedalhoseny
rank: 50+ posts
rank: 50+ posts
Posts: 111
Joined: Sat Dec 31, 2011 7:28 pm
Reputation: 0
Gender: Male
Contact:

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

Why Mighty this is a bad entry !!!

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5455
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 434
Gender: Male

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.

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5455
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 434
Gender: Male

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.

Image

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5455
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 434
Gender: Male

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

Short the pink box, TP on ZL:

Image


Just use your head...

Dan
rank: 50+ posts
rank: 50+ posts
Posts: 88
Joined: Thu Jul 05, 2012 9:45 am
Reputation: 13
Location: Sydney
Gender: Male

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.
Attachments
audusdh4.png
audusdh4.png (62.32 KiB) Viewed 342 times

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5455
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 434
Gender: Male

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.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “beginners forum”