A fresh start! Doji's Trading Journal

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dojirock
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Re: A fresh start! Doji's Trading Journal

Postby dojirock » Tue Apr 11, 2017 12:20 am

Added note, should have drawn differently. But to clarify, the green box is not representation of Momentum, Im looking at momentum as the two candles within that green box. Same with the red.

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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Re: A fresh start! Doji's Trading Journal

Postby nat » Tue Apr 11, 2017 7:29 am

dojirock wrote:2017-04-10_1900.pngBullish Mo
Bearish Mo

Momentum of any type is always followed by non-momentum.
The candles between the two Momentum are the non-momentum.
Do you see why?

doji


yes, small bodies long-ish wicks. didnt close beyond anything.

The way I define Momentum is a close above the previous extreme. That is bullish Momentum. Its the same on any chart timeframe, chart type.
Thus close below previous extreme would be bearish Momentum. Again, same on any chart timeframe, or chart type.


That actually makes a lot of sense, thank you.

4doji.png
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on this chart at the bottom are two overlapping boxes. (marked same way as you did) is that what you mean by takes mo to break mo?

one more question for now, say the candles were different and the lowest red box never formed, would it be wisest to wait until some bullish mo above that black horizontal line i drew? because that was the last bearish momo? Thank you for your time!

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Re: A fresh start! Doji's Trading Journal

Postby dojirock » Tue Apr 11, 2017 7:35 am

Yes!
Im glad to see someone with a defined Mo. How does one know it to be true or still true if they cant define it.
There can be momentum into a stronger momentum, but PA doesnt change until that stronger Momentum is broke by the new momentum.

This is really easy to see with a custom candle overlay where were not limited to the time chart and the institutions games. (wicks=deception).

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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dojirock
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Re: A fresh start! Doji's Trading Journal

Postby dojirock » Tue Apr 11, 2017 7:55 am

nat wrote:
dojirock wrote:2017-04-10_1900.pngBullish Mo
Bearish Mo

Momentum of any type is always followed by non-momentum.
The candles between the two Momentum are the non-momentum.
Do you see why?

doji


yes, small bodies long-ish wicks. didnt close beyond anything.

The way I define Momentum is a close above the previous extreme. That is bullish Momentum. Its the same on any chart timeframe, chart type.
Thus close below previous extreme would be bearish Momentum. Again, same on any chart timeframe, or chart type.


That actually makes a lot of sense, thank you.

4doji.png

on this chart at the bottom are two overlapping boxes. (marked same way as you did) is that what you mean by takes mo to break mo?

one more question for now, say the candles were different and the lowest red box never formed, would it be wisest to wait until some bullish mo above that black horizontal line i drew? because that was the last bearish momo? Thank you for your time!


Sorry, overlooked your question.
Before I answer that question... Take your thought one further, and read PA as a story. You have defined bearish Momentum. Follow it. It isnt until you get Bullish Momentum until you need to close bearish positions or enter a new position long.

Please don't forget to get a goal for your trading plan. Mine went from 40 pips per session traded to 20 this year. If you have no target goal you will over trade and start to deteriorate your gains. A good example is a great friend of mine that struggled for 15 years to become profitable. He now has a daily goal and understands the principle of which we speak. He trades 30 hours less per week and has almost tripled his account in less than a month.
Know your stats. Set a goal. Increase lot size. Be ok with stopping once your goal has been reached, even if its within 60 min. Go enjoy life! The market will still be here next session or day for us to rinse and repeat. In my realm of the scalping world and the ones I help, over and over again I see them give back there gains. Its exhausting. If you love trading as much as I do, use a demo once your goal is reached. I do it all the time as I help others.
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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Re: A fresh start! Doji's Trading Journal

Postby Mr. Hyde » Tue Apr 11, 2017 7:56 am

Yay Doji is back.

Im curious. Would you have taken any trade on the price action in between the 2 red lines
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Re: A fresh start! Doji's Trading Journal

Postby nat » Tue Apr 11, 2017 8:05 am

Sorry, overlooked your question.
Before I answer that question... Take your thought one further, and read PA as a story. You have defined bearish Momentum. Follow it. It isnt until you get Bullish Momentum until you need to close bearish positions or enter a new position long.

Please don't forget to get a goal for your trading plan. Mine went from 40 pips per session traded to 20 this year. If you have no target goal you will over trade and start to deteriorate your gains. A good example is a great friend of mine that struggled for 15 years to become profitable. He now has a daily goal and understands the principle of which we speak. He trades 30 hours less per week and has almost tripled his account in less than a month.
Know your stats. Set a goal. Increase lot size. Be ok with stopping once your goal has been reached, even if its within 60 min. Go enjoy life! The market will still be here next session or day for us to rinse and repeat. In my realm of the scalping world and the ones I help, over and over again I see them give back there gains. Its exhausting. If you love trading as much as I do, use a demo once your goal is reached. I do it all the time as I help others.


I will definitely ponder what you've written me. Always nice getting incite from someone whos "been there, done that" so to speak. thanks again!

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Re: A fresh start! Doji's Trading Journal

Postby dojirock » Tue Apr 11, 2017 8:10 am

Hello Mr. Hyde,

Oh, yes, alot of opportunity there. I am not sure what your asking?

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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Re: A fresh start! Doji's Trading Journal

Postby Mr. Hyde » Tue Apr 11, 2017 8:17 am

dojirock wrote:Hello Mr. Hyde,

Oh, yes, alot of opportunity there. I am not sure what your asking?

doji


I was just wondering as it was a lot of momo trading into momo, but with not a lot of space for any real movement. Its on days like these I do my worst.

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Re: A fresh start! Doji's Trading Journal

Postby dojirock » Tue Apr 11, 2017 8:22 am

Looking at the overlays, you only have 2 of those situations of opposing Momentum. Everything else was bearish. That's the beauty about Momentum. Once it happens it keeps going enough for us to benefit.
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!"

Mr. Hyde
rank: 1000+ posts
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Re: A fresh start! Doji's Trading Journal

Postby Mr. Hyde » Tue Apr 11, 2017 9:10 am

dojirock wrote:Looking at the overlays, you only have 2 of those situations of opposing Momentum. Everything else was bearish. That's the beauty about Momentum. Once it happens it keeps going enough for us to benefit.


That's were Im having my issues. 1st trade is price comes into 1hr zline (red line) then sold at the close of the long down candle. Took profit at next 1hr 50% stoppoint which was only about 15 pips. Now were in bullish 1hr momo, which price wasn't able to close over the 50% point (rejection) then a 15m momo bar up forms, bought the high of that and lost (red check mark). Then I see where support became resistance sold at the yellow line and exited at next 1hr 50% stoppoint for another 15 pips. The red x I see 1hr and 15m momo, buy and lose that. Then finally the red thumb I sell back into bullish momo (which I feel is already a bad idea), but ontop of it that bar closed over previous bear momo, so that's 2 huge red flags not to take the trade, but could have been held until the bottom of the 1hr bullish momo for 25 pips.

So for me that would have been 2 losses and 2 wins for about 15 pips total. I know Im doing or seeing something wrong.
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