A fresh start! Doji's Trading Journal

If you don't know where to start, start here! Don't be afraid to ask questions.

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newscalper
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Postby newscalper » Sat Sep 28, 2013 9:49 am

Not a 123 or 'back into value' whatever that is, although it looks like a 123 this time.
Done it nearly every day this week on EU.

Price had been moving down the day before to...a line I'd marked before which was the last clear upswing on the daily. Then, last apparent H4 move down, draw a line and screw the last in tail-enders over, looks like a 123 on the 15 minute chart but it doesn't matter if it makes a perfect 123, it doesn't often make a nice, pretty text book pattern, what matters is the tail-enders getting screwed over. Classic 'fake out'.

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Back in a mo...browser *censored - swear word* up...
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MightyOne
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Postby MightyOne » Thu Oct 03, 2013 7:14 am

Triangles are channels, channels are triangles, but trend lines are something else entirely.

Trend lines are not channels nor are they part of channels but are drawn after there is a breakout from a channel.

Horizontal lines are drawn after momentum candles or steep moves & cut through around the center of this area between the 33 & 66% RET.

We define triangles by double hooks and even expansions to larger triangles/channels & we religiously try to exclude breakouts from the pattern...
...here is a picture of what I mean:

Image

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MightyOne
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Postby MightyOne » Thu Oct 03, 2013 8:42 am

Many people literally cry when it comes to trading large charts...allow me to dry those tears.

Simply trade small charts the same as you always do but only from large period extremes; it really doesn't matter what the larger chart is doing at this point in time.

The time to consider holding is when:
1) your short term trade(s) have worked out
2) you could see yourself trading the large chart in the same direction
3) you would have moved your stop loss to your current stop position to protect your profit (if you were a stop movin' kind of trader...pray it ain't so!)
4) if YES YES YES then kick up your feet, pour yourself a tall shot of rum, & ride the long term trend.

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MightyOne
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Postby MightyOne » Sat Oct 05, 2013 7:25 am

Tough crowd tough crowd...oh wait, there is no crowd! :P

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dojirock
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Postby dojirock » Mon Oct 07, 2013 4:58 am

lol..im still around just having a rough time right now....
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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Dan
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Postby Dan » Mon Oct 07, 2013 8:44 am

Just taking it all in.. and losing pips.

stops too small, closing too early.
Last edited by Dan on Mon Oct 07, 2013 9:00 pm, edited 1 time in total.

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Braathen
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Postby Braathen » Mon Oct 07, 2013 9:08 am

Thanks for the pics and words of wisdom MO :D

I always look forward to your post as i really enjoy reading/studying them
to try better myself.

Ive been trading long since about 1.3170 area and have enjoyed quite a few bottles of rum lol :P (truth be told.. rum.. vodka and a bit of whiskey,
but favourite funny enough has been the classic 2 ice cubes.. slice of lemon.. 2 cl of bacardi and some coke in a smallish glass)

Ive been studying your pic all weekend by drawing the same things on diffrent pairs to try incorperate it into getting better entries and less "fizzlers".
For a long period i have only been using horizontal lines.

I really enjoy this bit "we religiously try to exclude breakouts from the pattern..." and ofc the "any channel can double in size".

As always thaks alot for all your posting and hope you had a great vacation :D
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

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MightyOne
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Postby MightyOne » Mon Oct 07, 2013 11:17 am

I've been drinking Gentleman Jack with a bottle of Ron Zacapa thrown in the mix to break the trend.

I haven't had Bacardi since I was a teenager =)

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MightyOne
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Postby MightyOne » Tue Oct 08, 2013 5:29 pm

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RicG
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Postby RicG » Tue Oct 08, 2013 7:21 pm


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