A fresh start! Doji's Trading Journal

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newscalper
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Postby newscalper » Tue Sep 10, 2013 11:46 am

Mo 'High extreme of the previous candle' - I have no idea which candle you're referring to?

The rest of the info, yeah, I kind of get it, although if I'm trading off a weekly low I don't know why that isn't a multi-day extreme? The 2 minute charts etc yeah, if you can trade I can see how that works and I understand re gaining pips to move the position back BUT I can't win any pips on small charts, Tried it and I fail every time all I do is lose.

What's wrong with the idea of 'win pips' on whatever chart, liquidate, inject pips into next trade - either by injecting into stop, or position size, or both?

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Postby MightyOne » Tue Sep 10, 2013 4:58 pm

In the picture it says "trade off of this (extreme)", the candle before that is the one I was talking about for the short.

I wrote this whole thing because you said that you were using the yearly open to which I responded that if you can't put a stop at an extreme then the chart should be irrelevant to you.

I never said that the weekly isn't a multiday chart.

"What's wrong with the idea of 'win pips' on whatever chart, liquidate, inject pips into next trade - either by injecting into stop, or position size, or both?" -newscalper

I think that is a question that you need to answer yourself.


Yes you can win pips on small charts, you just have to ditch technical analysis (don't draw on a small chart) and dive into your emotions.

1) does it look like it is going up or down?
2) what will the chart look like if I am wrong?
3) don't wait for breakouts or anything, just enter.
4) if a candle CLOSES & the picture looks like "2" then liquidate.
5) REMEMBER: SMALL CHART, SMALL PIPS; you are not trying to hold.
6) don't use market orders to liquidate, place a limit order at the extreme.
7) the exception to "6" is if the candle is abnormally large compared to the recent past PA.

Personally I don't use hard stops as I prefer a close all macro to avoid disaster (that is what the stop is anyways).
I also delay my M2 data by 3 seconds so that I keep my sanity.

You don't want to get lost trading the 2 minute, you want to always be aware of what the 30 minute or hourly is doing (has the M30 been dropping red candles, is your M2 long just making a red candle shorter, ...kind of thing).

Lastly, you want to always be aware of where your SL is on the multiday chart.

My most commonly used charts are:

M2
M30 <-- map for M2
H6 <-- temporary extremes
D3 <-- extremes
D12 <-- extremes

The key point to remember is that, in holding the extreme of x chart, you CAN scale upwards to x chart.
By reducing size you can hold a larger extreme and by holding the extreme you can move upwards.

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dojirock
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Postby dojirock » Tue Sep 10, 2013 10:46 pm

Anyone having a tough week? Im at 6 losses in a row....feel like im blind.
No more trading for me this week. :(
down 6 percent....
"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 » Tue Sep 10, 2013 11:59 pm

dojirock wrote:Anyone having a tough week? Im at 6 losses in a row....feel like im blind.
No more trading for me this week. :(
down 6 percent....


Does poker count? =)

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bettlebox
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Postby bettlebox » Wed Sep 11, 2013 3:24 pm

E/U trades today. I learnt to like days like these now.

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

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Postby Dan » Thu Sep 12, 2013 9:14 am

dojirock wrote:Anyone having a tough week? Im at 6 losses in a row....feel like im blind.
No more trading for me this week. :(
down 6 percent....


So you are human after all?

This week has been good, last week was a shocker.

Dan
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Postby Dan » Thu Sep 12, 2013 9:26 am

bettlebox wrote:E/U trades today. I learnt to like days like these now.



I traded this but got out too early as usual.

I think it was screaming long because 4hr couldn't close below 50%, it's all easy in hindsight.
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bettlebox
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Postby bettlebox » Thu Sep 12, 2013 3:26 pm

E/U trades today.

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

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bettlebox
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Postby bettlebox » Fri Sep 13, 2013 1:40 pm

E/U Trade today. I really hoping it would go higher finish strong for the week, after 15min wicked i was looking for my exit.

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

Apu N.
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Postby Apu N. » Fri Sep 13, 2013 4:21 pm

dojirock wrote:Anyone having a tough week? Im at 6 losses in a row....feel like im blind.
No more trading for me this week. :(
down 6 percent....


Hang in there bud, don't let it get you down.

You and your thread have been both informative and inspirational.

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