A fresh start! Doji's Trading Journal

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Re: A fresh start! Doji's Trading Journal

Postby Mira » Tue Jun 06, 2017 12:16 pm

Phil wrote: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



Phil

Wait for a Doji's or a MO's reply..


but in my opinion there isn't a rule saying you to "double and add half" if you don't want it.
You could add one single unit and trail your stop (normalize risk), wait for a RET and double, take partial profits and expand space or go one tf higher doubling your lines width..

Do what you want (as long as your risk stays the same).
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Re: A fresh start! Doji's Trading Journal

Postby tom7ak » Tue Jun 06, 2017 4:40 pm

Phil wrote: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


Hi Phil,

You described pretty much how i feel about trading. Loving it one day, hating with a passion the other. Hooked up between the passion and addiction. As Mira once wrote there seems to be sth more than money here. On the other hand i just might be fooling myself, as addicts do:)

I tried M5 for several days. i found it:
- time consuming/often tiring
- many reversals especially on choppy days
- easy to loose the focus or overtrade
- easy to get lost and distract by following M5 chop rather than HTF direction
- taking only 5-10 pips profit feels painful, but then again loosing it all when the clever guys come hurts even more. Often it felt like there is not much advantage in getting in (for a bigger move) on smaller TF. because the profit is more often than not zeroed before the real move anyway

Its me though, might fit others.

Whats ur experience regarding time spend monitoring/waiting for trades. Have u got a daily target as Doji advices? Whats ur MM rules, SL and TP?
you got 2 slow it down
and then u pick it up - PF
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Re: A fresh start! Doji's Trading Journal

Postby MightyOne » Tue Jun 06, 2017 6:06 pm

Mira wrote:
Phil

Wait for a Doji's or a MO's reply..


but in my opinion there isn't a rule saying you to "double and add half" if you don't want it.
You could add one single unit and trail your stop (normalize risk), wait for a RET and double, take partial profits and expand space or go one tf higher doubling your lines width..

Do what you want (as long as your risk stays the same).


I you don't use EIGHTS position sizing and money management then this post is not going to be of much help.

Code: Select all

 An account is about 150 lines of risk + money for maximizing reward.

 If your smallest size is $10/line then your risk is $1500 or 150 lines of $10 + at least 5x as much on the side.

 If I place a trade on H1 and gain 2 lines then I have 6 lines total & if I increase it to $20/line then I add/subtract two lines for every line of price movement. So now price moves forward (6-8-10-12-14), I increase it to $30 line and price moves forward again (14-17-20-23-etc).

 23 lines at $10/line is $230, if I want 12 lines again then that is (23/12)10 or 12 lines at $19.16/line.
 19.16666666666667 * 12 = $230.
 If I want to trade at $15/line then (10/15)23 gives me 15.3334 lines at $15/line.

 Now I simply divvy up the lines as before between pairs and periods.

 EXAMPLE:
 12 of the lines might be divvied like this:
 H1: 4 lines
 H4: 3 lines
 D1: 3 lines
 MN: 2 lines
 You might run into trouble and it looks like this...:
 H1: 1 line
 H4: 4 lines
 D1: 5 lines
 MN: 3 lines
 ...So you adjust it a bit by moving your stop down 1 line your MN, D1, and H4:
 H1: 4 lines
 H4: 3 lines
 D1: 4 lines
 MN: 2 lines.
 More bad luck:
 H1: 0 lines
 H4: 0 lines
 D1: 2 lines
 MN: 5 lines
 So now we start clawing our way back:
 H1: 0 lines
 H4: 3 lines
 D1: 3 lines
 MN: 1 line
 
 It is often the surety of the larger moves that spare your space from total annihilation.
 
 If your trade size is less than $10/line, say $3, then your maximum chart period is the daily:
 H1: 5
 H4: 4
 D1: 3

Usually there is some repositioning before one doubles down and in almost every case I am happy
to get out with 1 line which can then unfold into 4 and try again :lol:
(if I quadruple my size then each line = 4 lines)

This is an EXTREMELY dangerous way to add and should only be used by experienced traders.

AUDNZD H1
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Re: A fresh start! Doji's Trading Journal

Postby Phil » Wed Jun 07, 2017 5:52 am

I you don't use EIGHTS position sizing and money management then this post is not going to be of much help.


Thanks MO for the reply.

Im using a form of MM but it seems like i get all confused now by this to me new 'eights' concept.

My 'idea' was that i will use the Space concept as some sort of MM, risking 0.5% on the initial trade, and using Doji's great momentum zone concept
for entries. I figured that once the initial trade would go against my momentum zone, closed at the opposite site, i double up and make good. Thats what Doji shows and i have been doing now which works. This way i stat wise dont lose the money of the initial trade and can 'retry' on the next one.
What this shows me that i have spent a lot of time in my little world, not looking around whats happening on the bigger charts... i have a lot to do...

'Eights' is new for me, so im going to print your charts and comments and see whether i can figure it out.

Could take me some time since i really am fed up struggling my way through. Hope i can use the despair as a motivator.
Shall i reply back into this thread or is it better to reply in your thread?
Is it better to start reading about Eights than its about space, im currently on page 139 of your 'ideas' thread...

Any chance the Eights indicator has been coded in JForex already? :lol:

Thanks again,
Phil

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Re: A fresh start! Doji's Trading Journal

Postby MightyOne » Wed Jun 07, 2017 7:10 pm

Phil wrote:...
Shall i reply back into this thread or is it better to reply in your thread?
Is it better to start reading about Eights than its about space, im currently on page 139 of your 'ideas' thread...

Any chance the Eights indicator has been coded in JForex already? :lol:

Thanks again,
Phil


You can use any entry strategy that you want with EIGHTS: 1-2-3, horizontal lines, Wick/Buy-zone, whatever.

If you have 12 lines and you risk 4 then you are left with 8 lines or you can double the prev. position size and have 4 lines (2+2+2+2).

How you employ your lines is completely up to you.

EIGHTS is nothing more than you have already been told:
1) assign a value to the lines
2) grab a number of lines that equals the sum of your risk ($120 or whatever)
3) divvy up the lines between periods and pairs (or whatever)
4) enter on horizontal lines (or whatever)
5) risk lines and make lines.

How many 'whatevers' is that now? :lol:

This is the heart of the code:

Code: Select all


 //--------------------------------------------------------------------------------

  LINEWIDTH = (iATR(NULL,60,48,0)*(0.382))/point;
 
  if(period == PERIOD_H4) {LINEWIDTH = LINEWIDTH *  2;}
  if(period == PERIOD_D1) {LINEWIDTH = LINEWIDTH *  4;}
  if(period == PERIOD_W1) {LINEWIDTH = LINEWIDTH *  8;}
  if(period == PERIOD_MN1){LINEWIDTH = LINEWIDTH * 16;}
 
  //--------------------------------------------------------------------------------
 

The indicator only needs to answer 3 questions:
1) If each line is X$ then what should my position size be?
2) If my position size is X then what is each line worth?
3) The spread is what percent of one line?
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Re: A fresh start! Doji's Trading Journal

Postby Phil » Thu Jun 08, 2017 5:12 am

MightyOne wrote:...

You can use any entry strategy that you want with EIGHTS: 1-2-3, horizontal lines, Wick/Buy-zone, whatever.

If you have 12 lines and you risk 4 then you are left with 8 lines or you can double the prev. position size and have 4 lines (2+2+2+2).

How you employ your lines is completely up to you.

EIGHTS is nothing more than you have already been told:
1) assign a value to the lines
2) grab a number of lines that equals the sum of your risk ($120 or whatever)
3) divvy up the lines between periods and pairs (or whatever)
4) enter on horizontal lines (or whatever)
5) risk lines and make lines.

How many 'whatevers' is that now? :lol:

...


Thanks MO,

I will need to find out how to implement this principle so i can use it to reach my goals.
Thanks for the pointer to the code, i will start coding the JForex version.

So, no need for me to read through the thread about Eights than...
What i also need to consider is what TF i will be basing my 'bias' upon. Will i grow my position later to the say H1, i will need to keep that
frame in mind and could start a position from the M5?

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Re: A fresh start! Doji's Trading Journal

Postby Phil » Mon Jun 12, 2017 7:49 am

Couple of trades before appointments coming up.

Look at the simplicity... momo zone, above long, below short...

First trade didnt close above single legged mo down, so i took it short.

If i could continue this way, stress free trading all the time...

20170612.0942 - GBPJPY - M5 001.png
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Re: A fresh start! Doji's Trading Journal

Postby dojirock » Sat Jul 01, 2017 4:13 am

Here is a range chart perspective with Crude. Very nice for scalping.

Mo down, Mo up, pullback enter.

For scalpers its all about the entry.
Dont forget about the LOS, target taking and continuation to bring in a few extra ticks.
2017-07-01_0006.png
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doji
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"A small loss is just as satisfying as a large gain" -MO
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Re: A fresh start! Doji's Trading Journal

Postby Phil » Sat Jul 01, 2017 2:32 pm

dojirock wrote:Here is a range chart perspective with Crude. Very nice for scalping.

Mo down, Mo up, pullback enter.

For scalpers its all about the entry.
Dont forget about the LOS, target taking and continuation to bring in a few extra ticks.
2017-07-01_0006.png

doji


Hello Doji,
Hope your doing well.

Whats with those red lines on this Crude oil chart? Those seem to be at the sema's low/high. When i look at the arrows you've placed
on the chart, i notice that some are AFTER price closed at the opposite of the box. Is it that you trade Crude, in this example, differently in such a way that you don't reverse and double up but take a loss once it closes against your red line?

Just thinking out loud. For me the waiting for the retrace after a close over the box seems difficult to master. Either i take a lot of heat or
miss the move by not entering and price not returning to the box. I find it than harder to take a new entry once price comes back another time (some time later) since i have this thought price might have gotten reversed, changed bias?

Thanks, have a great weekend.
Phil

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Re: A fresh start! Doji's Trading Journal

Postby Mira » Mon Jul 03, 2017 11:55 am

Phil wrote:
dojirock wrote:Here is a range chart perspective with Crude. Very nice for scalping.

Mo down, Mo up, pullback enter.

For scalpers its all about the entry.
Dont forget about the LOS, target taking and continuation to bring in a few extra ticks.
2017-07-01_0006.png

doji


Hello Doji,
Hope your doing well.

Whats with those red lines on this Crude oil chart? Those seem to be at the sema's low/high. When i look at the arrows you've placed
on the chart, i notice that some are AFTER price closed at the opposite of the box. Is it that you trade Crude, in this example, differently in such a way that you don't reverse and double up but take a loss once it closes against your red line?

Just thinking out loud. For me the waiting for the retrace after a close over the box seems difficult to master. Either i take a lot of heat or
miss the move by not entering and price not returning to the box. I find it than harder to take a new entry once price comes back another time (some time later) since i have this thought price might have gotten reversed, changed bias?

Thanks, have a great weekend.
Phil



Hi Phil how are you?

Nice post! I have the same problem with pullbacks (trading one timeframe), everytime that price comes back to the zone it looks like it's a totally new scenario..

This is why I'm looking for PA on a lower timeframe now, but it isn't the same.. what are bodies on a small chart could be wicks on the bigger ones.
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