A fresh start! Doji's Trading Journal

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newscalper
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Postby newscalper » Mon Feb 03, 2014 10:34 am

The way I see it is this - if you're looking at the monthly chart the high and low extremes (of all time) show the greatest potential. If the currencies are at parity, the least. If price is in the bottom quarter, your bias is long and vice versa.

Now drop to smaller charts and do the same with the higher bias in mind.

:lol: But the largest chart you're looking at is where you're trying to position from so to most of us, the monthly is rather too large.


But if you put in in the context of the daily chart, find the range between momo from the low and momo from the high. Note where price is now - if it's near the high then you're looking for shorts as you'll be positioning from the high of the daily swing and vice versa. if price is in the middle - too expensive to bother with.

Then for safety, trade in the direction of the most recent daily momo from a swing high or low - i.e. GU the most recent was the large daily down bar, so trade from the high in that direction until it reaches the low. If it goes through the low, you then need a re-think....at that point it's certainly too expensive to short from the area you were shorting from before but there may be a nearer one but you have to then be aware of lower price levels where price ay react etc.

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Postby newscalper » Mon Feb 03, 2014 11:26 am

It's really just the same old s/d stuff as ever but helps join up the timeframes, Seiden isn't clear on that at all.

Image


Image

So atm, it's cheap enough to buy but as I would be going against the current flow I need some fresh momo in my favour first - something apparent on H4 I reckon, the white lines are areas to be aware of.
Of course I could start taking longs right now and scalping a few pips to add into 'space' - position to be below the low shown on the daily chart. But I prefer to have some momo on my side first I think: sitting on my hands for now.

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Postby onontsira » Mon Feb 03, 2014 11:32 am

It'll blow yer mind


Now it does :oops:

Thanks a lot News!

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Postby dojirock » Mon Feb 03, 2014 4:09 pm

You guys are right on track!
"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 » Mon Feb 03, 2014 5:31 pm

OK - its bust through the low I'd noted - no reason to get long yet, no momo. And it's going to the next level down at around 62854 on my chart so, still sitting on my hands.

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Postby onontsira » Mon Feb 03, 2014 6:49 pm

It seems to work quite the same as when we wait for a new #3 semafor marking a new extreme and then waiting again for momentum going our way.

If it works the same, and apart from the "zones", what do you find to be an advantage of this mechanism over the old one? We still trade from ZL to ZL...

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Postby newscalper » Mon Feb 03, 2014 9:41 pm

It's exactly the same, no different at all. Just another way to see it.

But you now have a map. No matter where you enter, your stop is always placed beyond the daily z-line area - that is the 'daily extreme' if you're trading off that.

Enter and liquidate off small tf zlines but your position size and stop is always off the daily - that's why at the mid area price becomes too expensive to re-enter.

The idea is to enter, say on h1, liquidate on the same with profit. Wait, re-size re-enter again etc. After your first profitable trade you just wait and see if you go into profit on subsequent trades. You don't have a stop loss set a few pips away based on the H1 charts screaming to get taken out.

If you're right re the large TF momo chances are, even if price falls back way beyond a low etc on H1, the momo will still take you in the right direction eventually. If it doesn't and you're wrong you only lose your initial 0.5% etc.


If you're right.... and you continue being right until price becomes too expensive, then you can hold if already in but that is the last trade you consider in that direction of that extreme. Last week I liquidated at close of play Friday, not holding over the weekend, now price is still going down at the moment but it's too far away from the extreme to enter, so I wait for the signs of a long (or consolidation and it continuing short).

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Postby onontsira » Mon Feb 03, 2014 10:57 pm

It looks like you had a close look at Space recently

=D>

Will try to do this also asap

I think Doji gave up working with Space in favor of stacking, isn't he?

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Postby newscalper » Tue Feb 04, 2014 9:27 am

Stacking's OK until it bites you in the arse, with stacking you're increasing risk. With space risk stays the same.

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Postby newscalper » Tue Feb 04, 2014 9:35 am

Marrying up the timeframes between different styles.

Daily zLine = Seiden H4 zones, Zline = Dragon Line breakout point on the H4 chart (i.e. daily bar = 3 x zone)

Entries - price returns to zone. See H4 Zline created = Seiden H1 Zone breakout plus failure of Zline in other direction then enter on break of H1 candle OR try to get a retrace entry on M15.

GU - MOMO now forming at the daily low zline area and has broken through the H1 down line. Waiting for H4 bar to close up

Image

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