A fresh start! Doji's Trading Journal

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onontsira
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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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newscalper
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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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onontsira
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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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Postby newscalper » Tue Feb 04, 2014 5:15 pm

Image

Image

Image

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Postby MightyOne » Tue Feb 04, 2014 7:28 pm

One of my strategies for understanding a chart is to double the period and consider two time shifts.

Image


Another favorite is to look for triangles.

& last but not least is to throw down horiz. lines.

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Postby newscalper » Wed Feb 05, 2014 9:55 am

Well I held that over night as upper TFs still closing up, I have to sleep. woke up to see a massive down bar in the last hour and if the H4 closes down I should be out - for a loss.

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Postby onontsira » Wed Feb 05, 2014 10:17 am

Seems logical to me because the previous H4 bearish Mbar open wasn't closed over (hope you understand my english...)

It's like we were still in this valid MZ Mbar. If price can't close over this line (bullish momentum is weak) we must exit long trades, it could move the over way. Be aware of short trades...
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onontsira
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Postby onontsira » Wed Feb 05, 2014 10:28 am

If we are in a H4 MZ which is still valid, we can look for shorts here.

I hope I'm not making a fool of myself
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