A fresh start! Doji's Trading Journal

[Mira]

Posted this chart to show reversal process.
using swings,
down mo
up mo = bullish zone
retrace
went long...

note what happens....
THATS reversal.

This is just an example...
Would I have actually took this?
You tell me...
are my filters that I use in place?
If so, then yes I would have taken it.
If not, then no I would have passed OR the reversal would have been the initial trade...
2017-07-18_1547.png

doji

Amazing charts Doji!
Thank you!

I like how you are using spatial intellect to see your zone and your use of confluence inside the box.

Btw this chart is what I meant last time: the reversal isn't took necessarily inside the box, price closes over with momentum = trade the reversal at the market.
Is it right?

Thanks

[trojoh68]

Crazy we all took the same trade... I put this on last night before bed...

Rationale ***

Cone High will resist PA going higher --- Therefore Trade in the direction of MOMO

So placed a stop order to sell and boom!

#Keepitsimple

Great trade, Jalarupa. Especially since you put it on and went to bed!

Would you mind elaborating briefly on your rationale that you mentioned above. Am I right that "trade in the direction of MOMO" was that you anticipated that there would be downward momentum? Thanks.

[Captain Pugwash]

Mo - do you still use the idea of a "line in the sand" that is a line that price can cross - but NOT close over) and have space to give myself wiggle room?

[Jalarupa]

Would you mind elaborating briefly on your rationale that you mentioned above. Am I right that "trade in the direction of MOMO" was that you anticipated that there would be downward momentum? Thanks.

Well its a little more complicated than what I lead on.... but only because of the realization I have had through drawing cones... (Same thing but different) - The MO way...



Consider the above... most recent cone... what can you see?









SO yeah MOMO BO exactly what doji looks for... MOMO is the only thing that matters... BO + BI = BOOM

[Jalarupa]

I would be remiss to acknowledge the fact that it could have just as easily had gone the other way...

But I was comfortable with the risk and was happy to let that risk play itself out...

The point is, if you understand price structure, then you can anticipate what the future could or should look like and how to handle yourself in that situation accordingly...

[Mira]

Well its a little more complicated than what I lead on.... but only because of the realization I have had through drawing cones... (Same thing but different) - The MO way...



Consider the above... most recent cone... what can you see?









SO yeah MOMO BO exactly what doji looks for... MOMO is the only thing that matters... BO + BI = BOOM

Wonderful explanation Jala, thank you!

[MightyOne]

Mo - do you still use the idea of a "line in the sand" that is a line that price can cross - but NOT close over) and have space to give myself wiggle room?

Price cannot rise on wicks, neither can it fall without closing lower than something.

Does that mean that every close over is bullish? No, it just means that a close over is the min. req. for a bullish expansion.

I use price levels ( "where did she come from, where did she go?" ) as triggers and use 1 or 2 lines on either side as a stop loss with a min
profit target of even money (basically a SSG or BZ trade).
The only time that I really think about making a lot of pips is after I have accumulated a large position size.

I'll use: BZ, SSG, Flip-flops (Rat trade), 1-2-3, &/or Wick-zone with EIGHTS position sizing and money management.

A 'line' is simply 38.2% of the H1 ATR of the last 48 hours multiplied by 2 (size / 2) for each larger chart eg:
H1 48 ATR = 13.1 pips
H1: 5 pips = $10
H4:10 pips = $10
D1: 20 pips = $10
etc

for_captain.png (12.66 KiB) Viewed 2948 times

[trojoh68]

I would be remiss to acknowledge the fact that it could have just as easily had gone the other way...

But I was comfortable with the risk and was happy to let that risk play itself out...

The point is, if you understand price structure, then you can anticipate what the future could or should look like and how to handle yourself in that situation accordingly...

Jalarupa,

I really appreciate you taking the time to break this down and explain things the way that you did. The charts with descriptions are very helpful to my efforts to understand price movement the way you (and others) see it. I hear echoes on my mind of other things that I have read on Kreslik. Like you said, "It's the same, but different." I am going read more about cones now. Thanks!

[Mira]

Mo - do you still use the idea of a "line in the sand" that is a line that price can cross - but NOT close over) and have space to give myself wiggle room?

Price cannot rise on wicks, neither can it fall without closing lower than something.

Does that mean that every close over is bullish? No, it just means that a close over is the min. req. for a bullish expansion.

I use price levels ( "where did she come from, where did she go?" ) as triggers and use 1 or 2 lines on either side as a stop loss with a min
profit target of even money (basically a SSG or BZ trade).
The only time that I really think about making a lot of pips is after I have accumulated a large position size.

I'll use: BZ, SSG, Flip-flops (Rat trade), 1-2-3, &/or Wick-zone with EIGHTS position sizing and money management.

A 'line' is simply 38.2% of the H1 ATR of the last 48 hours multiplied by 2 (size / 2) for each larger chart eg:
H1 48 ATR = 13.1 pips
H1: 5 pips = $10
H4:10 pips = $10
D1: 20 pips = $10
etc


for_captain.png

Take profits is a rule that I MUST respect.

I took a loss here, I had a limit order exactly where price wicked the zone but my take profit was higher than the red line (that would have been the real target).
When I woke up price was coming closing below the zone, reversal didn't work

Btw if I took profits now I wouldn't be crying

IMG_0927.PNG (61.72 KiB) Viewed 3338 times

[Captain Pugwash]

today's trade using space

i got out of half at the first trouble area - the rest runs on to tp or sl