A fresh start! Doji's Trading Journal

If you don't know where to start, start here! Don't be afraid to ask questions.

Moderator: moderators

User avatar
dojirock
rank: 1000+ posts
rank: 1000+ posts
Posts: 1558
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 0
Gender: Male
Contact:

Re: A fresh start! Doji's Trading Journal

Postby dojirock » Mon Jul 20, 2015 4:57 pm

This kind of charting makes 20 pips a day a no brainer!
2015-07-20_1255.png
2015-07-20_1255.png (28.81 KiB) Viewed 1091 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!"

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
prochargedmopar
rank: 5000+ posts
rank: 5000+ posts
Posts: 5545
Joined: Sat Dec 20, 2008 6:07 am
Reputation: 8
Location: Granbury, TX
Gender: Male
Contact:

Re: A fresh start! Doji's Trading Journal

Postby prochargedmopar » Tue Jul 21, 2015 7:46 am

23-50% retrace after AB?
Hmmmmmmm

23-50RETRACE.png
23-50RETRACE.png (45.41 KiB) Viewed 1045 times
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

User avatar
dojirock
rank: 1000+ posts
rank: 1000+ posts
Posts: 1558
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 0
Gender: Male
Contact:

Re: A fresh start! Doji's Trading Journal

Postby dojirock » Tue Jul 21, 2015 1:56 pm

prochargedmopar wrote:23-50% retrace after AB?
Hmmmmmmm

23-50RETRACE.png


Rule of thumb:

e) Price retraces to 23.6 to 50 percent of the 'cd' leg for entries.

'ab' legs become 'cd' legs after the initial run.

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!"

User avatar
dojirock
rank: 1000+ posts
rank: 1000+ posts
Posts: 1558
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 0
Gender: Male
Contact:

Re: A fresh start! Doji's Trading Journal

Postby dojirock » Tue Jul 21, 2015 1:56 pm

dojirock wrote:
prochargedmopar wrote:23-50% retrace after AB?
Hmmmmmmm

23-50RETRACE.png


Rule of thumb: ( I use for my trading),

e) Price retraces to 23.6 to 50 percent of the 'cd' leg for entries.

'ab' legs become 'cd' legs after the initial run.

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!"

User avatar
dojirock
rank: 1000+ posts
rank: 1000+ posts
Posts: 1558
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 0
Gender: Male
Contact:

Re: A fresh start! Doji's Trading Journal

Postby dojirock » Tue Jul 21, 2015 2:10 pm

2015-07-21_1009.png
2015-07-21_1009.png (44.38 KiB) Viewed 1021 times
Here is an example of what I mean.

Initial run is over
'cd becomes the 'ab' for the 2nd run.
Retrace and enter.
20 pips.
Done for day!

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!"

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
dojirock
rank: 1000+ posts
rank: 1000+ posts
Posts: 1558
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 0
Gender: Male
Contact:

Re: A fresh start! Doji's Trading Journal

Postby dojirock » Tue Jul 21, 2015 2:22 pm

Bigger span, same rules of thumb.

doji
Attachments
2015-07-21_1021.png
2015-07-21_1021.png (67.44 KiB) Viewed 1017 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!"

bumpo
rank: <50 posts
rank: <50 posts
Posts: 9
Joined: Tue Aug 18, 2009 2:08 pm
Reputation: 0
Gender: Male

Re: A fresh start! Doji's Trading Journal

Postby bumpo » Tue Jul 21, 2015 10:22 pm

dojirock wrote:Here is an example of what I mean.

Initial run is over
'cd becomes the 'ab' for the 2nd run.
Retrace and enter.
20 pips.
Done for day!

doji


Doji,

Is this how you would mark the letters? And, how would you define the times when A & B are on the same bar, and those times when they are on separate bars? Are C & D always on the same bar? Thx.
Attachments
2015-07-21_1009.png
2015-07-21_1009.png (46.78 KiB) Viewed 975 times

User avatar
dojirock
rank: 1000+ posts
rank: 1000+ posts
Posts: 1558
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 0
Gender: Male
Contact:

Re: A fresh start! Doji's Trading Journal

Postby dojirock » Wed Jul 22, 2015 1:44 am

Bumpo,

What im doing is reading price action on any time frame, renko, range, P&N, Momentum, the same way.
It is discretionary, but if you can see this your reading price and its the same on all lengths of time and range.

Please keep this in mind and dont get hung up on making it a system and you will be rewarded in your trading.
Your chart is close to how I would do it. Wicks are a reflection of direction change, thus I mark them with a letter.
When reading price...charts depict the price action in which time binds them.
Knowing this... I mark a low as 'a'. Any kind of reversal bigger than a pip or two (visible as a wick) I will mark as a 'b' at the start of the pullback. Point 'c' is the continuation turn point (higher low) and must be between 'a' and 'b'. Point 'd' must be higher than 'b' and wont be set until there is a pullback (represented as a wick).

For example if we have our low, 1st candle. and it closes with no upper wick, the next candle has no low wick, price just keeps going up, then point 'b' would be at the high or close of the 2nd candle. If the 2nd candle had a lower wick then point be would be the open of the 2nd candle and the 2nd candle wick low would be 'c'. If you mark it on a time chart then drop a time frame it should make alot more sense.

When I have a trend with the abcd pattern it takes two counter patterns to consider it a reversal. Until I get that, I go with the previous pattern. The 1st counter pattern is the initial run. The 2nd one is the counter setup and will break the previous trend 'a'.

Its this simple. Pattern holds or fails. Trade the direction that shows the way.
"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!"

User avatar
dojirock
rank: 1000+ posts
rank: 1000+ posts
Posts: 1558
Joined: Tue Nov 17, 2009 10:11 pm
Reputation: 0
Gender: Male
Contact:

Re: A fresh start! Doji's Trading Journal

Postby dojirock » Wed Jul 22, 2015 2:29 am

Asiansession trade.

Night!
2015-07-21_2228.png
2015-07-21_2228.png (42.12 KiB) Viewed 959 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!"

Dan
rank: 50+ posts
rank: 50+ posts
Posts: 76
Joined: Thu Jul 05, 2012 9:45 am
Reputation: 0
Location: Sydney
Gender: Male

Re: A fresh start! Doji's Trading Journal

Postby Dan » Wed Jul 22, 2015 11:09 am

Thanks for the extra tools Doji, very easy to understand and very reliable.

P.s. Still waiting for the project you had in the works, please don't forget me.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “beginners forum”