Cwn6161's Trading Log

[cwn6161]

I'm not dead yet. Decided to go back and read the old NLA thread. Dropped my size to 1 micro, and tried my hand with semas, dynamic fibs, and 1/3 dots. Lots of losers, but they are teaching me.

I think I'm going to attempt to keep my losers as small as possible by watching the 5m for bars closing against me. Grabbed this today - made me feel like I'm not totally incompetent at this

[dojirock]

Hang in there cwn, im in the same boat! People like Sandra make it look so easy....

dojirock

[prochargedmopar]

Hang in there cwn, im in the same boat! People like Sandra make it look so easy....

dojirock

Talk about easy:

www.forextradingcoaches.com

[cwn6161]

Using the one third dots indi has been extremely helpful for me lately in picking direction. I haven't traded live this week, but have been putting demo trades up here and there.

Just after 8:30 this hour bar looked much different. In fact the red dot was at the blue dot's place now! I waited for price to reverse, and shorted at 1.3640. I only took 20 pips... suppose I could have held for the 5m candle to close haha.

[jarnapal]

Using the one third dots indi has been extremely helpful for me lately in picking direction. I haven't traded live this week, but have been putting demo trades up here and there.

Just after 8:30 this hour bar looked much different. In fact the red dot was at the blue dot's place now! I waited for price to reverse, and shorted at 1.3640. I only took 20 pips... suppose I could have held for the 5m candle to close haha.

cwn can you shortly describe how you use one third dots ?

thanks. J

[cwn6161]

The basic is idea is to help limit which direction you trade based on where price is in relationship to the previous candle's dots. Only trade long when price is above the blue dot, only trade short when price is below the red. In the middle you are free to to do what you like.

Lately, I've been using the dots as signals to go long /short. For instance, if the last candle was a large green one, I would like to see the current candle price dip down to the blue dot (of the prior candle), and move back on up. I'd then look for a zeroline on the 5m to enter. Reverse the logic for a short.

Of course you can find small nuances to trade that don't follow those rules. For instance the trade I had today, I looked at the current candles dots since news was going to come out, and price tends to move big in one direction, then switch and rocket in the other. Once news came today, price immediately went long but then pulled back. I used the red dot of the current candle at the time as an entry point.

I mainly look at dots for 1H and 4H. Entries are based on 5m rats or zerolines. If a 5m candle closes against me, I look to get out at breakeven.

Make sense? Maybe this weekend I'll post some charts to explain more. I'm really using it to prevent myself from taking zerolines in every direction all the time.

[jarnapal]

The basic is idea is to help limit which direction you trade based on where price is in relationship to the previous candle's dots. Only trade long when price is above the blue dot, only trade short when price is below the red. In the middle you are free to to do what you like.

Lately, I've been using the dots as signals to go long /short. For instance, if the last candle was a large green one, I would like to see the current candle price dip down to the blue dot (of the prior candle), and move back on up. I'd then look for a zeroline on the 5m to enter. Reverse the logic for a short.

Of course you can find small nuances to trade that don't follow those rules. For instance the trade I had today, I looked at the current candles dots since news was going to come out, and price tends to move big in one direction, then switch and rocket in the other. Once news came today, price immediately went long but then pulled back. I used the red dot of the current candle at the time as an entry point.

I mainly look at dots for 1H and 4H. Entries are based on 5m rats or zerolines. If a 5m candle closes against me, I look to get out at breakeven.

Make sense? Maybe this weekend I'll post some charts to explain more. I'm really using it to prevent myself from taking zerolines in every direction all the time.

thanks, it makes perfectly sense! I will try them out next week