A fresh start! Doji's Trading Journal

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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

Image

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


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MightyOne
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Postby MightyOne » Wed Oct 09, 2013 3:04 am

Image


Your angles are too sharp...

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MightyOne
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Postby MightyOne » Wed Oct 09, 2013 6:44 am

Image


When they work they work...
& when they don't you delete everything and try again.

These lines have held nicely. =)

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PebbleTrader
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Postby PebbleTrader » Wed Oct 09, 2013 1:45 pm

I've been moving away from using channels / wedges and even trendlines...I will draw 1 ... maybe 2 trendlines on a chart if they are really obvious and of a larger tf.

The purpose is to see what others are seeing, not so much because I trade them...
Life is just a journey

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dojirock
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Postby dojirock » Wed Oct 09, 2013 4:51 pm

G/U trade.
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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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MightyOne
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Postby MightyOne » Wed Oct 09, 2013 7:25 pm

PebbleTrader wrote:I've been moving away from using channels / wedges and even trendlines...I will draw 1 ... maybe 2 trendlines on a chart if they are really obvious and of a larger tf.

The purpose is to see what others are seeing, not so much because I trade them...


I use a mix of my own interpretations of triangles, channels, & Andrew's Pitchfork.

My definition of a trend line is an angle outside of that used for a channel.

Now if that is the case then you simply reuse your channel angle when price reaches the next level of congestion instead of using a trend line at all.

There is nothing wrong with just using horizontal lines & I do just that most of the time. =)

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RicG
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Postby RicG » Wed Oct 09, 2013 10:11 pm

The angles are not too sharp, simply because this pattern is not based on angles. Angles in this setup are irrelevant. This is a precise harmonic pattern that involves 4 market moves and 3 major Fib zones. The combination of these moves form 5 points that create the pattern. The angles can vary widely on this setup, because they are based on price action and the aforementioned items.

There are many different ways to trade successfully. :-)

Regards,
Ric







MightyOne wrote:
Image


Your angles are too sharp...

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