A fresh start! Doji's Trading Journal

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seacap
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Postby seacap » Thu Jun 27, 2013 7:37 pm

raw wrote:Demand area hit twice already. Absorbing all the buyers. Eventually there were none. Take the first bounce.


IMO you can not know when the buyers/sellers are absorbed. You even do not know if the buyers are still there at your demand on the first touch.
Here we have the supply area which was hit 4-5 times and the buyers could not absorb the sellers. Do you know why?
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audusd3.jpg
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withnail
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Postby withnail » Thu Jun 27, 2013 8:01 pm

seacap wrote:
MightyOne wrote:How about from the M30:

Image


I was trading H4 chart, it did look good, see below.
And when I made the first two entries there was not serious problem on m15/m30.


It did not look good at all. The bar you stuck the fib on didn't get anywhere at all. Trading is not about learning a trick, understand what is happening.

(read charts from bottom one first)
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au60mflip.png
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au30m.png
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au3m.png
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1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.

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dojirock
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Postby dojirock » Fri Jun 28, 2013 1:30 am

Classic
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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...."
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Dan
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Postby Dan » Fri Jun 28, 2013 6:02 am

Bad luck and bad trading on the entry t/f's I guess.

First negative week for a while.
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Captain Pugwash
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Postby Captain Pugwash » Fri Jun 28, 2013 8:43 am

Dan wrote:Bad luck and bad trading on the entry t/f's I guess.

First negative week for a while.


Have a look at Withnails post above mate
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY

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Postby Dan » Fri Jun 28, 2013 10:14 am

Thanks Captain, must have missed that.

It looks like I'm not zooming out enough on my charts, I missed that area altogether.

A few posts back raw posted dragons chart zoomed out in response to my question, looks like I'm getting lazy.

Hope this helps others.

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Postby Dan » Fri Jun 28, 2013 10:19 am

dojirock wrote:Classic


Nice one Doji, I've been doing well with the colour change entries. Thanks again.

raw
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Postby raw » Fri Jun 28, 2013 2:35 pm

Seacap

S/D areas are not static. Momentum 'changes the state' of prices creating new s/d areas.

I've marked up your chart. New s/d areas created and/or respected.
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Postby MightyOne » Fri Jun 28, 2013 6:30 pm

seacap wrote:
"... In this case you need a big move to profit because your SL is large in terms of pips.
So if we are short from that 130.00 daily/weekly extreme, where do we close our position? Should we close it ang go long from this new 126.5 low extreme? Or should we leave our short in hope of move to 125?..."


The extreme at which your stop is placed is the period that you are trading.

You don't need pips more than you need a good position and larger lot size; position is your measure of safety and size is what makes money.

When you trade short term charts, you should trade about 50% larger and aim to take profits quickly.
When you have good position then you should focus on accumulation where your position naturally trails the extremes as you add to your lot size.

Don't worry about risk reward ratios as maxing out your lot size takes care of that automatically.

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dojirock
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Postby dojirock » Fri Jun 28, 2013 7:08 pm

MightyOne wrote:
seacap wrote:
"... In this case you need a big move to profit because your SL is large in terms of pips.
So if we are short from that 130.00 daily/weekly extreme, where do we close our position? Should we close it ang go long from this new 126.5 low extreme? Or should we leave our short in hope of move to 125?..."


The extreme at which your stop is placed is the period that you are trading.

You don't need pips more than you need a good position and larger lot size; position is your measure of safety and size is what makes money.

When you trade short term charts, you should trade about 50% larger and aim to take profits quickly.
When you have good position then you should focus on accumulation where your position naturally trails the extremes as you add to your lot size.

Don't worry about risk reward ratios as maxing out your lot size takes care of that automatically.
:D
"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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