A fresh start! Doji's Trading Journal

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

Postby Phil » Fri May 26, 2017 9:26 am

dojirock wrote:Great questions Phil,

I do trade from 2 and 3 sema's for 2 reasons, 1 keeps me from overtrading and 2, it gives me the range I need to make my goal of 20 pips per session.

Yes I do double up and take the reversal which gives me my high success rate. I only look to cover the loss with the reversal then I protect it very closely.
I treat it like a 2 trade cycle. IF it does go to the stop loss, remember it has to close beyond the stoploss level...not just wick it. Thats why I use that script you wrote to close the trade if price closes above or below a certain price...then there is no reason for me to watch it. I also get some big runs that way due to im not interferring with the trade.

just to be clear, I take a trade and win or I follow it with a reversal and B/E, win or lose...thats the end of the cycle.
Rinse and repeat.

Also im going to post the Momentum indi that you wrote originally for me of the 2x body size, that I modified to my new findings for others to use.

great questions Phil, keep pippin....

doji


Ok so just to make sure i get this>
you stay at the computer until you get your 20 pips, goal for session. When a full cycle ends in loss, this means you will need to make up those lost pips for two trades, right? Say the 1st trade you enter with 0.01 ends in loss, you double on the reverse so it will become 0.02 lots. If this cycle ends in loss, do you start the 1st trade of new cycle with 0.04? Otherwise its more difficult to make up or you need to make more trades right?

Attached a chart with some scalps i took this morning. I think i start to understand why you enter of the M15, gives a bit more time and less 'false' signals. However, i drew on this chart one m15 zone. Price shot back into it and i took it short. Now i admit i forgot to aim for more pips since this was basically a m15 trade (entered afterwards Again), but would you think its ok to enter this way from the M5 using a M15 zone? Or would you wait for a m5 zone to break away first?
I kind of think its scary that once m5 momentum seems to form up into the down m15 zone, to take the short..

Also, when i took this shorts, i wanted to see a m15 close above before i would exit but i think im wrong thinking like this? I guess its better, and easier to make up lost pips, to wait for a m5 momentum close above the M15 down zone and than exit the trade?

Thanks,
Phil


20170526.1109 - GBPJPY M5- 001.png
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Re: A fresh start! Doji's Trading Journal

Postby dojirock » Sat May 27, 2017 3:47 am

Phil wrote:
dojirock wrote:Great questions Phil,

I do trade from 2 and 3 sema's for 2 reasons, 1 keeps me from overtrading and 2, it gives me the range I need to make my goal of 20 pips per session.

Yes I do double up and take the reversal which gives me my high success rate. I only look to cover the loss with the reversal then I protect it very closely.
I treat it like a 2 trade cycle. IF it does go to the stop loss, remember it has to close beyond the stoploss level...not just wick it. Thats why I use that script you wrote to close the trade if price closes above or below a certain price...then there is no reason for me to watch it. I also get some big runs that way due to im not interferring with the trade.

just to be clear, I take a trade and win or I follow it with a reversal and B/E, win or lose...thats the end of the cycle.
Rinse and repeat.

Also im going to post the Momentum indi that you wrote originally for me of the 2x body size, that I modified to my new findings for others to use.

great questions Phil, keep pippin....

doji


Ok so just to make sure i get this>
you stay at the computer until you get your 20 pips, goal for session. When a full cycle ends in loss, this means you will need to make up those lost pips for two trades, right? Say the 1st trade you enter with 0.01 ends in loss, you double on the reverse so it will become 0.02 lots. If this cycle ends in loss, do you start the 1st trade of new cycle with 0.04? Otherwise its more difficult to make up or you need to make more trades right?

Attached a chart with some scalps i took this morning. I think i start to understand why you enter of the M15, gives a bit more time and less 'false' signals. However, i drew on this chart one m15 zone. Price shot back into it and i took it short. Now i admit i forgot to aim for more pips since this was basically a m15 trade (entered afterwards Again), but would you think its ok to enter this way from the M5 using a M15 zone? Or would you wait for a m5 zone to break away first?
I kind of think its scary that once m5 momentum seems to form up into the down m15 zone, to take the short..

Also, when i took this shorts, i wanted to see a m15 close above before i would exit but i think im wrong thinking like this? I guess its better, and easier to make up lost pips, to wait for a m5 momentum close above the M15 down zone and than exit the trade?

Thanks,
Phil


20170526.1109 - GBPJPY M5- 001.png


These are just my preferences, like I said before, it works on any chart type, and time frame. You will have to decide whats best for you.
Lot sizes are up to you... I trade 2 cycles... then start over. I dont martingale my trades. The way I look at it is if I need 10 wins lets say before I can increase my lot size, per a trading plan, isnt 10 wins going to cover those two losses anyways?

Think about this also..if its a 15min zone, and price is in the zone, the risk is smaller if it turns out to be a reversal than it would be if you waited for a 5 min zone and break which would get you in the trade below the 15 min zone. The smaller the risk the better.

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 dojirock » Sat May 27, 2017 3:58 am

Im not even gonna draw it from this chart on the Daily... after that big run up.

I hope you guys did and got some pips!

topic3029/page3890
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 Mira » Fri Jun 02, 2017 12:48 pm

dojirock wrote:Here is a chart in reference of what I spoke of a few post back to Phil.
I have forgotten how rare these are... :)

doji2017-05-23_2351.png



LOL

Only now I see it, epic trade Doji!
Thank you!
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Re: A fresh start! Doji's Trading Journal

Postby Phil » Mon Jun 05, 2017 6:56 am

Would you consider the following as a good reversal?

Note that the momentum zone was drawn a bit late since at that time i sat down and saw it forming.
Price closed above the zone with momo so i waited for a tiny retrace and entered long.

The long never came back up and closed below the zone, on lower frame than m5, so i did close the long and reversed
with two seperate orders. (2 times the same long contract, 0.01 otherwise i cant make up in pips?)

After it covered the loss and 1 pip i closed, since the purpose of doubling up on the reversal is to make up the loss right?

If this is all there is too it, its quite simple... i just need to relax a bit (a lot) and see how i can park my emotions so it want mess my trading up.

Thanks

20170605.0840 GBPJPY - M5 - 001.png
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Re: A fresh start! Doji's Trading Journal

Postby Phil » Mon Jun 05, 2017 8:14 am

Slowly the confidence is coming back...

Took this long a bit to late, did exit since it was near S/R and was thinking it might drop first before going up.
As you can see im messing with colors too, trying to find my final template so i can be consistent in all things.

Price made an extreme at the bottom, moved away and gave the zone. Again was i late since first i drew the zone one candle later
but upon a closer look it closed already above the last down mo, which could have given +5-10 already.

Guess im getting closer.
Think no more trading today, seems to be a bank holiday. Oh well, despite this method works!

20170605.1007 - GBPJPY M5 - 002.png
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Re: A fresh start! Doji's Trading Journal

Postby Phil » Mon Jun 05, 2017 8:34 am

Last ones of the day.

Not strictly by Doji's rules, the last up mo, but its kind of my personal flavor. Noticed that a lot of times
when there's no near opposite momo, or the opposite momo is quite large, the sema/cc hi/low can act as the opposite momo as well.

Thats why i took this shorts. One entry at market, the 2nd at a bit better price. Tried to trail it since im done for the day
but this one came back. Sooner or later it will work.

20170605.1026 - GBPJPY - M5 003.png
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Re: A fresh start! Doji's Trading Journal

Postby Mira » Mon Jun 05, 2017 5:43 pm

Phil wrote:Last ones of the day.

Not strictly by Doji's rules, the last up mo, but its kind of my personal flavor. Noticed that a lot of times
when there's no near opposite momo, or the opposite momo is quite large, the sema/cc hi/low can act as the opposite momo as well.

Thats why i took this shorts. One entry at market, the 2nd at a bit better price. Tried to trail it since im done for the day
but this one came back. Sooner or later it will work.

20170605.1026 - GBPJPY - M5 003.png


Nice charts Phil!

Are you still trading the 15m or just the 5m?
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Re: A fresh start! Doji's Trading Journal

Postby Phil » Tue Jun 06, 2017 5:26 am

Thanks Mira,

Well thats something im not sure of what timeframe suits me best. Sometimes i love it other times i hate it, same with trading. It seems like im stuck in a hole and have trouble coming out.
What i had in mind, thanks to your postings or should is say 'thanks :roll: ', i had a look at MO's 'ideas' thread. I must admit that it got me hooked
on the space concept, his strategy template risking half percent on the first trade, double and than add half.
I was wondering how i could apply that to Doji's momo trading concept since its working with closes over instead of a fixed sl, trailing sl.

What i was thinking was, i can start with a micro on the m5 based off some 2x extremes (perhaps a 2x15 extreme?), enter when momo closes above the zone, double if it gives a new setup and add half. Then i could use this profit to go find a cycle for the m15 using the same concept only applying some sort of higher 2x extreme, like the m30/m45 and work up to the h1 for now...
Perhaps all im saying is i want to leave the lower frames and start making some money but unsure how to apply it to a small account...

Not sure how to do that but going to see if i can find something about it.
But perhaps im just making it difficult again and i should stop reading other threads... man sometimes it seems the fog never clears in my mind...

Phil

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Re: A fresh start! Doji's Trading Journal

Postby Phil » Tue Jun 06, 2017 11:23 am

Ok, made an attempt today but to be honest im doubting whether i'm right.
Sure, idea worked out but somehow i feel i misinterpret a lot you guys, doji and Mo, talk about.

See the attached chart below.

The 'idea ' was to look for a long and position myself from here, the yellow solid line. This is a 2xH1 low line (per my definition but dont shoot me)
where i would expect some movement up. As you can see it played out real nice.
I did wait for a momo to close above the zone down, momo up, entered with 1 unit. Next i doubled rather quickly and also added a half so i had 3 units open. I should have hold to the around the white m15 line, to take full advantage but i remembered reading something from MO this night that rather take full profit than to move your stoploss without normalization...
Also i must admit that i was a bit scared to add doubles since, it dipped a bit against me, i dont want to add to losers anymore..

So now i have 3 units OPM is that right? Should i now wait for a new setup and start my initial trade with those 3 units, then double and add half?
I think i have a lot of reading to do or stop doing so stupid...

I meant also to say, once we start out with the initial risk, using the momentum concept, when the 1st part of the cycle should go wrong, we can double up and make good. Next we should again wait for a new oppertunity to trade away from the extreme?

Sorry if this post doesnt add any value to your thread Doji, just trying to survive.

20170606.1314 - GBPJPY - M5 idea.png
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