A fresh start! Doji's Trading Journal

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MightyOne
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Postby MightyOne » Thu Jul 04, 2013 11:09 pm

seacap wrote:
MightyOne wrote: 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.


Ok, the question is: how to choose a good(right) position?


3-day extremes are pretty safe places for your stop loss.

Use a 30-60 minute chart to guide you until the large chart conforms & then trade the large chart.

Use the smallest chart that is not moving sideways to time your trades.

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seacap
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Postby seacap » Fri Jul 05, 2013 7:07 am

MightyOne wrote:
seacap wrote:
MightyOne wrote: 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.


Ok, the question is: how to choose a good(right) position?


3-day extremes are pretty safe places for your stop loss.

Use a 30-60 minute chart to guide you until the large chart conforms & then trade the large chart.

Use the smallest chart that is not moving sideways to time your trades.


We have 3 multi-day extremes. Which direction should we trade?
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seacap
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Postby seacap » Fri Jul 05, 2013 7:16 am

forexjpn wrote:Seacap,

I'm sure you'd rather hear from the pros here, but 2 things I would say about the entries above...........
1. I believe according to Seiden, price should not stay at the level for too long to be considered a 'good' level
2. Wide range bars that come after a long run often signal 'the end'.
VSA(Volume Spread Analysis) helped me a lot in identifying these, although I don't use volume anymore........ it 'trained' me to see them


1. I see many of you guys like Seidens theory. But why? He makes more money teaching than trading. His theory has a lot of flaws. He says: "price should spend 2-4 candles at a good level". Ok, switch timeframe to a lower one and you can see 6-8-10-16 candles instead of 2-4. So this makes this level "bad". Or you can switch timeframe to a higher one, then you will see a 1-2 candle level, which makes the level "a pivot low"- again not a valid supply/demand zone according to Seidens definition.

2. I am familiar with VSA. Wide range bars with high volume often indicate a breakout of a level.

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MightyOne
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Postby MightyOne » Fri Jul 05, 2013 4:35 pm

seacap wrote:
MightyOne wrote:
seacap wrote:
MightyOne wrote: 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.


Ok, the question is: how to choose a good(right) position?


3-day extremes are pretty safe places for your stop loss.

Use a 30-60 minute chart to guide you until the large chart conforms & then trade the large chart.

Use the smallest chart that is not moving sideways to time your trades.


We have 3 multi-day extremes. Which direction should we trade?


3-day extremes... stop loss.

Use a 30-60 minute chart to guide you (higher/lower than "something"?) until the large chart conforms & then trade the large chart.

Use the smallest chart that is not moving sideways to time your trades.

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dojirock
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Postby dojirock » Sat Jul 06, 2013 5:57 am

Light trading this week.
2nd of two.
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"A small loss is just as satisfying as a large gain" -MO
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"Once you stack, you'll never go back!"

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Postby dojirock » Tue Jul 09, 2013 7:26 pm

3 setups today
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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 Jul 10, 2013 4:13 pm

Stacked twice. 6.5% gain. Done for Day.
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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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newscalper
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Postby newscalper » Wed Jul 10, 2013 7:18 pm

Interesting, also coincides with a pnf triple bottom b/out

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dojirock
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Postby dojirock » Wed Jul 10, 2013 7:45 pm

Keeping the losses small and stacking when im right is starting to pay off.
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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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Postby newscalper » Wed Jul 10, 2013 9:20 pm

:lol:

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