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: 1558
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 0
Gender: Male
Contact:

Postby dojirock » Fri Aug 30, 2013 4:26 am

I like the failed 50's on 4hr the best..when a number of 4hr or 1 hr candles fail to cross the 50 line. From there look for momentum moving away from the failed line, then wait for the retrace to enter.






pp2 wrote:
dojirock wrote:2 fails is good enough for me, entered on 15 min chart and just waited
could have pinpointed an entry, but didnt feel like thinking...lol


Hi Doji, nice trade!

How are you seeing the fails, can you describe what you are looking for so that you take the trade in confidence? In that particular AJ short are you betting the fails from a 15 min candle closes on the hourly 50% momo?
"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
bettlebox
rank: 500+ posts
rank: 500+ posts
Posts: 733
Joined: Thu Mar 11, 2010 12:06 pm
Reputation: 0
Gender: None specified

Postby bettlebox » Fri Aug 30, 2013 7:33 pm

My E/U trades for today. They mess price all morning right up to USA opening.

I was too quick to enter on -6 pip trade (untested 5min momo) i paid the man for my impatients.
Attachments
hh.png
EURUSD 30th August
hh.png (45.55 KiB) Viewed 498 times
There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

Dan
rank: 50+ posts
rank: 50+ posts
Posts: 76
Joined: Thu Jul 05, 2012 9:45 am
Reputation: 0
Location: Sydney
Gender: Male

Postby Dan » Sat Aug 31, 2013 5:17 am

bettlebox wrote:This EurUsd i was looking for setup on the 15 min movement off the 1hr 50% level from last friday.

im looking for any comments.


I used to get into trouble by trading zlines in the wrong direction and I would have traded that also but now something as simple as the macd gives bias so keeps me on the right side of the market. Same chart as yours the way I see it.

Thanks MO for comments and Doji for keeping things simple.
Attachments
eurusdm15.png
eurusdm15.png (74.38 KiB) Viewed 466 times

User avatar
bettlebox
rank: 500+ posts
rank: 500+ posts
Posts: 733
Joined: Thu Mar 11, 2010 12:06 pm
Reputation: 0
Gender: None specified

Postby bettlebox » Thu Sep 05, 2013 12:57 pm

My EU trades today wish there more days like this.

Doji something has clicked in my head about the big bars and how price inter-acts with them.

There are two forces acting upon us: Suffering pushes us forward from behind and pleasures entice us and pull us forward.

User avatar
newscalper
rank: 1000+ posts
rank: 1000+ posts
Posts: 1068
Joined: Tue Oct 19, 2010 5:58 pm
Reputation: 0
Gender: Female

Postby newscalper » Thu Sep 05, 2013 1:05 pm

Well, got in on the crazy move, albeit early. Shouldn't really have got in until it broke my pink box. I had to sit through the spike up into supply, but the supply was my reason to exit my long and then go short, so that was my logic. I've been playing with space a bit this week so my position was 40 odd pips away, did contemplate closing on the spike up but then thought 'what the heck' there's big supply up there somewhere. Exited at the first apparent 15 minute demand level but it's going lower.
Image
I can't post these quicker, photobucket is a real pain in the arse in my browser for some reason, takes me many attempts to get the links to copy with page reloads etc. Something to do with Flash I think

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

User avatar
newscalper
rank: 1000+ posts
rank: 1000+ posts
Posts: 1068
Joined: Tue Oct 19, 2010 5:58 pm
Reputation: 0
Gender: Female

Postby newscalper » Thu Sep 05, 2013 9:44 pm

Doji - when you use the 50% tool are you using it just on mbars or do you (for example on H4) just use it on bars at the extreme i.e. , say if price is moving up and the bar going into the high extreme is an mbar, you mark that, then you look for failure of the 50% for a reversal, or alternatively, if the extreme has been made and an outside/mbar has been made south you then mark fibs and look for a retrace entry ( as I marked out on Aussie Yen last week and you took? Nice trade btw)?

User avatar
dojirock
rank: 1000+ posts
rank: 1000+ posts
Posts: 1558
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 0
Gender: Male
Contact:

Postby dojirock » Fri Sep 06, 2013 12:59 am

Yes, you can do it both ways if the momentum is part of the extreme. Thats what is most important is identifing the momentum bar or bars and marking those said bars. good observation!

doji


newscalper wrote:Doji - when you use the 50% tool are you using it just on mbars or do you (for example on H4) just use it on bars at the extreme i.e. , say if price is moving up and the bar going into the high extreme is an mbar, you mark that, then you look for failure of the 50% for a reversal, or alternatively, if the extreme has been made and an outside/mbar has been made south you then mark fibs and look for a retrace entry ( as I marked out on Aussie Yen last week and you took? Nice trade btw)?
"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
newscalper
rank: 1000+ posts
rank: 1000+ posts
Posts: 1068
Joined: Tue Oct 19, 2010 5:58 pm
Reputation: 0
Gender: Female

Postby newscalper » Mon Sep 09, 2013 11:47 am

Just playing with a new chart setup
Image
The arrows weren't actual trades, just my thought on it.

Today trade is off the weekly low. Just wary of the yearly open so in trend following mode. May come back at me
Image

User avatar
MightyOne
rank: 5000+ posts
rank: 5000+ posts
Posts: 5247
Joined: Wed Dec 10, 2008 6:33 pm
Reputation: 46
Gender: Male

Postby MightyOne » Mon Sep 09, 2013 6:33 pm

Your stop loss determines the largest chart that will influence your trade decisions.

To have a stop at the extreme is to trade a chart and to have a stop within the range of a candle on said chart is to trade a smaller chart.

The act of trading is simply moving stops (hopefully because you are adding size) and making that final decision to liquidate.

In order to hold for large pips you have to have position on large charts & your stops have to stay outside of the gyrations of smaller charts.

Notice that I didn't say anything yet about what the large chart is doing, simply that you hold the extreme.

You start by trading aggressively (adding size) away from an extreme based on your small charts (M2 & M30, M5 & M15, whatever) with an allowance of no more than 1 counter trade for every 2 trades away from the extreme; too many CT trades and your chance of missing the move skyrockets.

Next you reduce your size and move your stop to the location it would be had you been trading based on the large chart all along.

And from there you add size to move along the extremes of the larger chart...
here is a basic example:

Image


Note that it would have worked equally as well had you gone short from the high extreme of the prev. candle.

SO

1) multiday extremes
2) Small Charts
3) Add Size
4) Unwind Positions / move SL to a better location on large chart
5) Add Size based on new chart
6) Liquidate.

User avatar
newscalper
rank: 1000+ posts
rank: 1000+ posts
Posts: 1068
Joined: Tue Oct 19, 2010 5:58 pm
Reputation: 0
Gender: Female

Postby newscalper » Tue Sep 10, 2013 11:44 am

Image

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


Return to “beginners forum”