A fresh start! Doji's Trading Journal

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dojirock
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Postby dojirock » Mon Jul 01, 2013 6:28 pm

Hey MO,

Very interesting. Just to understand, this is the 2 sma on a given time frame in candle format. That triggers a few new ideas for me to think about.
About the zigzag on pnf, are you thinking the 123 pattern on that chart type?

doji

MightyOne wrote:I'm considering just using the 2SMA in candle form:
//---Dragon-Ashi OPEN---
//Buffer3 sets the retracement
haOpen = ((ExtMapBuffer3[pos+1]*0.0)+(ExtMapBuffer4[pos+1]*10.0))/10;

//---Dragon-Ashi CLOSE--
haClose= ((High[pos+1]+Low[pos+1]+Low[pos]+High[pos]))/4;


Image


I've also been using PebbleTrader's PT_ZigZagWithValues indicator (think Point & Figure)
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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Postby MightyOne » Mon Jul 01, 2013 6:36 pm

Yes, it is the 2 SMA in candle format.

In P&F, there is a minimum retracement that is a reversal, usually 20-30 pips, with new highs signaling a continuation...
that is how I am using PT's indicator.

The 2SMA is good for both 1-2-3's and Close over/under.

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Postby judokamak » Mon Jul 01, 2013 7:32 pm

Very cool MO, thanks for sharing.

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Postby MightyOne » Tue Jul 02, 2013 11:05 am

MinimumForReversal is set to 5:
Image


5x1 Point & Figure works differently than x2's etc in that, if there is just a single box retracement, the trend continues upwards in the same column leaving X's stacked on a single O.

I think that ZigZag pairs well with Point & Figure in that you might have the minimum for reversal but ZZ determines that the move is of little consequence.

You plot by marking off the number of 5's in each swing...it is very relaxing =)

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Postby Dan » Tue Jul 02, 2013 12:34 pm

AUS/USD really gave me a hard time last week so thought i'd try a jpy pair.
I notice that zline's are respected more? Got out shortly after this trade.
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Postby MightyOne » Tue Jul 02, 2013 12:36 pm


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Postby MightyOne » Tue Jul 02, 2013 2:02 pm

Dan wrote:AUS/USD really gave me a hard time last week so thought i'd try a jpy pair.
I notice that zline's are respected more? Got out shortly after this trade.


I was going to respond earlier but K-lik wouldn't load.

With small charts, I would wait for price to spike with a significantly larger range than that found in the recent price history:

Image


If you condense your chart then you will see a long uptrend, recently broken, with a double top to trap short sellers.
When you believe that traders are likely to be trapped then it is a good idea to both trade a little larger and wait a bit longer than you normally would.

On 5 minute and smaller charts, you can almost always afford to wait for a candle to close and liquidate at the highest price.
There is only one highest high or lowest low so use that to your advantage when closing orders.

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Postby dchappy » Tue Jul 02, 2013 6:24 pm

newscalper wrote:
dojirock wrote:... Keep it simple...
Trading is easy...
Use the Macd blue line as a bias......
use any entry method you see fit.
I would use the cross, then there will be a pullback....123 setup
DC has been making money with this for years....


Yeah - I see what you mean, it's not as clear cut with MACD as you've drawn it - if you stick an alert on there there's more crosses than you think especially in that chop but it's a good illustration


A Range or Renko chart will filter out half of the bad signals ....

Just Sayin ............... :wink:

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Postby MightyOne » Tue Jul 02, 2013 7:00 pm

Result of the Bullish Catapult:

Image

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Postby Dan » Wed Jul 03, 2013 10:16 am

MightyOne wrote:
Dan wrote:AUS/USD really gave me a hard time last week so thought i'd try a jpy pair.
I notice that zline's are respected more? Got out shortly after this trade.


I was going to respond earlier but K-lik wouldn't load.

With small charts, I would wait for price to spike with a significantly larger range than that found in the recent price history:

Image


If you condense your chart then you will see a long uptrend, recently broken, with a double top to trap short sellers.
When you believe that traders are likely to be trapped then it is a good idea to both trade a little larger and wait a bit longer than you normally would.

On 5 minute and smaller charts, you can almost always afford to wait for a candle to close and liquidate at the highest price.
There is only one highest high or lowest low so use that to your advantage when closing orders.

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