A fresh start! Doji's Trading Journal

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newscalper
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Postby newscalper » Fri Feb 14, 2014 1:27 pm

dojirock wrote:Break of a 15 min RB....tells me momentum has shifted short......
Now I put on my red rat sneakers.....
Mark only Blue/White colorchanges. (zlines)
Ask myself...what does price do around those zlines?

4 stacks...

doji


OK. That's getting clearer.

This is how to explain things to people in simple terms

1. Definition of rb
2. Definition of momo
3. Definition of Dragon Line /zline
For short trade
4. Observe m15 chart
5. See Green 'up' rb
6. M15 momo bar breaks low of 5 rb
7. Drop to M5 chart
8. Note Dragon line at bottom of broken RB
9. Enter on low break of M5 bar breaking the Dragon line???
10. Or is it 5 minute green bar closes below Dragon line and enter???
11. Or is it Enter when price hits the Dragon line?
12. Or is it.....price retraces to Dragon line, then 5 minute red bar closes then enter???
13. Continue adding positions re above criterion
14. Exit when???

And then....is the M15 RB fail looked for just whenever it occurs or is it married to higher tf supdem or RBs?

Thanks for your infinite patience Doji. hopefully once I get the hang of this finally I'll be able to help other people with it too.

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Postby newscalper » Fri Feb 14, 2014 2:05 pm

OK.

This is taking those things into account and NOTHING else, no higher tf bias, no noticing of daily supply area.

So.


M15 chart
Image

M5 chart

Image

Image

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dojirock
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Postby dojirock » Fri Feb 14, 2014 2:26 pm

I can count the number of times on one hand that I look at a weekly or daily chart. Im not a long term trader. I will look rarely at a 4hour. I trade hourly for bias and ANY time frame less for bias and or entry.

Learn to crawl before you run. You seem to really like TRO. Listen to what he says, "Don't Be A Yalie" Trade one direction until your making money. This is key. It is alot less overwhelming and you will build confidence, learn to take small losses and work on letting the winners run more than the losses.

The H4 example you speak of that I took, I closed. Why, because it drives me nuts to hold trades all week. Im not that kind of trader. If I was I would still be short on that E/J, there has been no stop out.

Pick one way to find a bias, dont change it till your making money.
There are many ways to do it...Taught here at KR
Lines, indicators, flip a coin. It doesnt matter. Im serious about that.
Then determine what your entry method is going to be. Keep it simple.
It can be a ema pullback, a ma cross, a zline wick, a rat trade, a breakout, a Dragon line, ect. BUT ONLY in ONE DIRECTION, MATCHING YOUR BIAS.

Then learn to take the pips when they are given, there will be more trades.
Dont let a winner, based on your own criteria turn to a loss.
Many times when I post these 100 pip gains, it because I dont follow the trade. Im up 10-20 pips, I set to B/E and go to bed. I wake up with price in my favor, then I close it. Do I care if it ends up being a B/E. NO...ITs not a LOSS. Im probably most defined as as swing, scalper trader. This Zebra hasnt learned how to change his stripes! So now I concetrate on larger lot sizes, hit my goals. Over acheiving my daily goals, bankrolls my next days goal which reduces pressure.

doji
"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 dojirock » Fri Feb 14, 2014 2:36 pm

I see you just posted a chart, Do the above, then you tell me. In every trade you take keep it the same. You need to do this to develop a pattern. It may get you to breakeven, it may make you profitable. You 1st need to determine that. Forget stacking. No stacking until your profitable.

Again I find myself looking thru my MO material, there was a pic that helped me in a crazy way define what is going on as far as taking one direction and drawing the lines all the same way. Then just waiting for that setup.
I will post if I can find it. Im a couple harddrives later since I saved that pic.
But it is here somewhere on KR.

Did you determine your daily, or weekly goal yet. You need to know what your goal is to work towards it. (more than just be profitable) lol

doji
"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 dojirock » Fri Feb 14, 2014 2:51 pm

Pic
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eurjpym5n2.png
eurjpym5n2.png (63.16 KiB) Viewed 214 times
eurjpym15n1.png
eurjpym15n1.png (61.88 KiB) Viewed 214 times
"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 dojirock » Fri Feb 14, 2014 2:56 pm

What just happened?
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eurjpym15n3.png
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"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 dojirock » Fri Feb 14, 2014 2:59 pm

Still waiting for it to prove itself.
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eurjpym1n4.png
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"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 Feb 14, 2014 3:01 pm

dojirock wrote:I can count the number of times on one hand that I look at a weekly or daily chart. Im not a long term trader. I will look rarely at a 4hour. I trade hourly for bias and ANY time frame less for bias and or entry.

Learn to crawl before you run. You seem to really like TRO. Listen to what he says, "Don't Be A Yalie" Trade one direction until your making money. This is key. It is alot less overwhelming and you will build confidence, learn to take small losses and work on letting the winners run more than the losses.

The H4 example you speak of that I took, I closed. Why, because it drives me nuts to hold trades all week. Im not that kind of trader. If I was I would still be short on that E/J, there has been no stop out.

Pick one way to find a bias, dont change it till your making money.
There are many ways to do it...Taught here at KR
Lines, indicators, flip a coin. It doesnt matter. Im serious about that.
Then determine what your entry method is going to be. Keep it simple.
It can be a ema pullback, a ma cross, a zline wick, a rat trade, a breakout, a Dragon line, ect. BUT ONLY in ONE DIRECTION, MATCHING YOUR BIAS.

Then learn to take the pips when they are given, there will be more trades.
Dont let a winner, based on your own criteria turn to a loss.
Many times when I post these 100 pip gains, it because I dont follow the trade. Im up 10-20 pips, I set to B/E and go to bed. I wake up with price in my favor, then I close it. Do I care if it ends up being a B/E. NO...ITs not a LOSS. Im probably most defined as as swing, scalper trader. This Zebra hasnt learned how to change his stripes! So now I concetrate on larger lot sizes, hit my goals. Over acheiving my daily goals, bankrolls my next days goal which reduces pressure.

doji


Forget bias. I am still trying to define method.

Both trades I just showed were both long. So say my bias is long :lol:

So: you move your stop. That kind of methodology, is completely contra to MOs teachings and the whole principle of zline. OK, no problem if it works but I certainly haven't been moving my stop.

So I suggest w.r.t to what you just wrote that the whole principle of what you are doing has very little to do with entry criteria. It's all trade management. Which I why I keep asking again and again: where is the exit?

This whole stacking thing: is it really just a case of defining a bias in some way then trading engulfing bar breakouts and moving the stop to b/e after a certain period? In which case again, where is the exit? When a stop gets hit then close all? When a target gets hit? I don't know.

I do know the logic does not work if you look at even one TF larger. If a larger TF shows a bias by your exact criterion for short, why would you take a long on a shorter TF? Going by that logic, shorter TFs MUST overrule higher TFs, ergo anything to do with higher TF supply/demand area must be baloney? It could well be for all I know. Every move has to begin on the tick chart, not because there is a bar formation that took place 3 weeks ago.

So, you're moving your stop given certain criteria.


I can show you a very inneficient method that makes money doing just that, in theory, and it only works when the market trends. For the last 3 years it's debatable if it would have worked on the TFs I tested on back in the day.

On smaller TFs I don't know because it's all down to WHEN you move your stop and then how you trail it, if you're doing it on H4 it works because the stop sizes are well outside of near term volatility for a lot of the time but you can go weeks going b/e, small loss, b/e, b/e, b/e full loss, b/e b/e, huge win hurragh and that's as soul destroying as what I've been experiencing on smaller TFs as you know damn well that the only reason you may be profitable, for now, is luck, pure and simple. Random entry can be used with it btw, it makes little difference.

I see I've got a lot more to think about anyway and once again I feel that I thought I understood something but am, in fact, totally clueless.

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Postby newscalper » Fri Feb 14, 2014 3:08 pm

:lol:

We're posting out of sync - I've just seen the posts you put up while I was typing my nonesense.

hang on a bit, let me read them

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Postby newscalper » Fri Feb 14, 2014 3:38 pm

OK - I understand the red line.
The blue lines I'm lost - the lower of the two seems to be based on the M15 Dragon line, the upper one???

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