A fresh start! Doji's Trading Journal

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newscalper
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Postby newscalper » Thu Jan 30, 2014 7:58 pm

A-ha. got it got it
Image
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newscalper
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Postby newscalper » Fri Jan 31, 2014 7:59 am

OMG LOL.
Could it be that overnight my puny brain has fathomed
Position
Lotsize
Expansion

There's a diagram from MO from way back in the MBT Micro thread when he says it's how he traded for the first few years and confirms my thoughts and what TRO has always said re that there isn't a trend.

What MOs diagram does is basically define that it doesn't matter if you choose to go long or short, you just define where your position is from (say the high low lines I've marked in the charts above in orange and blue, not the entry lines) and then split the chart between the two lines and define when price is expensive enough to sell and cheap enough to buy.

Using that you CAN literally just use TROs 'Price hits a line' method to enter. I still feel you need a proper defined method for getting out of trades though but anything will do really, even a trailing line based on highs of time-x bars would suffice.

Let me find the diagram. It'll blow yer mind :lol:

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newscalper
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Postby newscalper » Fri Jan 31, 2014 8:18 am

Still holding my GU and EJ trades BTW :D

Right, this is MOs picture I think - what it says is, what I've been saying thinking for years :lol: and I see we're in agreement, and that is price is ALWAYS moving between two levels - here MO has defined it on the monthly chart but hey :lol:

When price is in the red or green areas it's OK to trade, OFF the far extremes. When it's in the grey areas it's OK but not so great.

When it's in the white area it's too expensive.
Image

Image

Position, lotsize, yada yada :D
Last edited by newscalper on Fri Jan 31, 2014 10:30 am, edited 1 time in total.

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newscalper
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Postby newscalper » Fri Jan 31, 2014 8:31 am

Image


In context

Image

So in context - at the moment, even though both my open trades are working out, my GU one at least was opened in an area where, from the line I'm using to give me direction and context (price is moving down from the high), price was too expensive for me to trade. So I shouldn't be patting myself on the back too much :lol:

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Postby onontsira » Fri Jan 31, 2014 12:01 pm

So you only trade with a ZL on lower TF ONLY WHEN price is in the "ok zone" and head in the correct direction AND THEN hits a line?

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Postby onontsira » Fri Jan 31, 2014 12:18 pm

And what if price breaks the range?

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newscalper
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Postby newscalper » Fri Jan 31, 2014 4:01 pm

See my EJ trade. If it breaks the range and you're already short you're quids in - the range is just a pricing mechanism not an entry mechanism. It just give a heads up as to areas to position from and profit potential. EJ is trending down like a MOFO - current momentum is down and you stay with the current momentum until it is exhausted. If you want to re-define where the high line is, come next week you can. Find where the new daily zline is (H4 breakout) and work your position from there), there's not too much in its way unless you go up to the weekly chart for quite an old level. New momo has to come into the market (unusually large daily up bar perchance) to think about going long atm.

Still holding EJ and GU short :lol:

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Postby onontsira » Fri Jan 31, 2014 5:17 pm

Thank you news, I get it

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Postby dojirock » Fri Jan 31, 2014 8:40 pm

Great work News.
Good to see you making progress

doji
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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Postby newscalper » Fri Jan 31, 2014 8:45 pm

Thx Doji :)
Just liquidated both positions for the w'kend.
First up week in a loooong time.

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