A fresh start! Doji's Trading Journal

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dojirock
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Postby dojirock » Tue Jul 30, 2013 7:42 pm

update on u/j

do you see it?
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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 31, 2013 2:43 am

stopped out -2
need to wait for asian session
"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 » Wed Jul 31, 2013 2:06 pm

Everything falls into place when you focus on position first:

Image

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MightyOne
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Postby MightyOne » Wed Jul 31, 2013 2:46 pm

One trick to calming your nerves, when trading small charts, is to construct a chart using P4L period converter and delaying the data by 3000ms.

Nothing bad is going to happen in 3 seconds that wouldn't happen in 1.

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Postby dchappy » Wed Jul 31, 2013 8:17 pm

[quote="MightyOne"]One trick to calming your nerves, when trading small charts, is to construct a chart using P4L period converter and delaying the data by 3000ms.

Nothing bad is going to happen in 3 seconds that wouldn't happen in 1.[
/quote]

A few yrs ago you made a statement that helped me greatly as a scalper .

I still have it taped to the top of my screen ....

" The Market isn't moving as fast as you think it is "

............... :wink:

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dojirock
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Postby dojirock » Thu Aug 01, 2013 7:05 am

last trade of 3
+200 pips
5 stacks
love u/j
(hated it yesterday)
Last edited by dojirock on Tue Aug 06, 2013 6:12 pm, edited 1 time in total.
"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 Dan » Thu Aug 01, 2013 8:59 am

I got stopped out more than once on u/j yesterday in the choppy crap and it's the first time I stacked too..didn't go to well. Daily chart shows price was just stuck between zlines. If you hated it too then I don't feel as bad although I bet you came out better than me.

MO, I don't always understand your advice but what you are saying is a safe place to put your stop is outside daily open. So if current daily is green, better to only trade bullish zline setups and have your stop below daily open?

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Postby paweldobkowski » Thu Aug 01, 2013 3:36 pm

Dan wrote:I got stopped out more than once on u/j yesterday in the choppy crap and it's the first time I stacked too..didn't go to well. Daily chart shows price was just stuck between zlines. If you hated it too then I don't feel as bad although I bet you came out better than me.

MO, I don't always understand your advice but what you are saying is a safe place to put your stop is outside daily open. So if current daily is green, better to only trade bullish zline setups and have your stop below daily open?


Don't get a BIAS based off the candle color on two sided markets.

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Postby MightyOne » Thu Aug 01, 2013 3:49 pm

At a minimum, your stop should rest on the extreme of the last 24 hours.

You should only (momentarily) place your stop within the daily range for 2 reasons:
a) you are trading minimum size (3-5 units) with a 10-15 pip stop; not to consume more than 1/3-1/2 of your total risk space.
b) you increased your size and need to normalize risk.
c) you have nunchuck skills =)

I start with position on a long term extreme and trade from 2 minute charts (& yes, I delay my own data by 3 seconds).

From there I might have a ZL setup:

Image


or the strong rally may have brought me to within range of an even higher extreme on a multiday chart...
just start by trading the small chart with a longer term extreme.

If you have a long term extreme then you can turn your short term trades into anything, but if you only have short term extremes then you leave yourself with few options.

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Postby TheRumpledOne » Thu Aug 01, 2013 10:32 pm

Hey MO, when did you plot those horizontal lines? Is this a BEFORE, DURING or AFTER chart?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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