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 » Wed Oct 25, 2017 4:55 pm

I guess im a bit of all the below.....

Scalper: see pips take pips

Short term trader: enter and exit within 3 hours

Short(er) term trader: enter and exit within 6 hours

day trader: enter and exit within 12 hours

day/night trader: enter and exit within 24 hours

doji
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Re:

Postby dojirock » Wed Oct 25, 2017 6:26 pm

MightyOne wrote:
aliassmith wrote: I'm predominantly a scalper/short term trader. I do throw in an occasional multi-day trade.


Code: Select all

 Probably the best description that I could come up with is 'macro scalper'.
 
 A line is a percentage of a pairs hourly range multiplied by the estimated length of time that one is planning on holding a trade (eg tens of minutes, hours, days, ...)
 
 A pip is a specific amount of money over a definite width and so is 'line': the difference is that of the [u]estimated[/u] holding time; there is no law which states that 20 pips takes longer than 30, 40, or 80 pips, we just assume that it is going to take longer.
 
 If you are entering when price comes into contact with a line then price is the same and the chart period does not matter, but if the opportunity is based on the chart picture then you need to adjust your position sizing and space to survive the price ranges that you are sure to be holding through.
 Some people will point to a breakout and say "if you catch it just right then you don't need to worry about anything"; I don't know about you, but I don't want a trading life where perfection is a requirement of success

 With all of that said, what do I think is the difference between a 'long term trader' and a 'macro scalper'?
 A macro scalper is only looking for 2+ macro pips (2 or so lines on any chart) where as a long(er) term trader holds out for more...where as a long term trader holds for even more than that.

 A monthly chart seems like a long time, and it is, but it is not so long if you have 8 monthly charts working or are maxed out in size (you are at your smallest line width) on a monthly chart.

 Like a discussion of OPM, a discussion of space usually moves along this path:
 "this is how I see it", your definition does not exist in reality, "It exists for me therefore it is", I do not accept your definition, "what definition has ever perfectly encapsulated the truth?"
 


What 1 pip looks like on a 1 minute chart:
1_PIP.png
What 1 macro pip looks like on a monthly chart:
Is a 1/16 size trade really going to stress you out so bad that you won't be able to trade a small chart at the same time?
MN_EJ.png
THE MONEY IS THE SAME ON ALL CHARTS!


Thanks mo...

I think my hang up is, a few things. (with long term, im referring to) I trade both directions. I would trade the exact same way on any chart. BUT, I cant sit on my hands for 9 months.
Looking at the monthly chart posted... I see the perfect setup. It would take me 4 months to enter once then stack once based on my criteria that I use to stack. Once in profit I would be holding for an additional 5 months and make like 500-700 pips. I know you say pips dont matter, but Im a pip
counter. So I look at that comparison. 500-700 pips @ 5 lots over 5 months??? OR the reality for me is 500-700 pips @ 5 lots in a given week.

As I think about it, trading both directions.... I know I have a mental block in me that if a Weekly or even a Monthly chart tells me go long. My "bearish" switch just shuts down. But if I dont even look at a weekly or monthly chart, I have no problem at all trading both directions till the cows come home.
:)

doji
2017-10-25_1401.png
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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 » Wed Oct 25, 2017 6:29 pm

I just saw your comment about "1/16 the size really gonna stress me out........" I think theres the problem for me... I open at say 1/3 then stack the other 2/3 after in profit, to my max allows. Then I aggressively protect my profit.

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:

Postby prochargedmopar » Thu Oct 26, 2017 4:15 pm

MightyOne wrote:
aliassmith wrote: I'm predominantly a scalper/short term trader. I do throw in an occasional multi-day trade.


Code: Select all

 Probably the best description that I could come up with is 'macro scalper'.
 
 A line is a percentage of a pairs hourly range multiplied by the estimated length of time that one is planning on holding a trade (eg tens of minutes, hours, days, ...)
 
 A pip is a specific amount of money over a definite width and so is 'line': the difference is that of the [u]estimated[/u] holding time; there is no law which states that 20 pips takes longer than 30, 40, or 80 pips, we just assume that it is going to take longer.
 
 If you are entering when price comes into contact with a line then price is the same and the chart period does not matter, but if the opportunity is based on the chart picture then you need to adjust your position sizing and space to survive the price ranges that you are sure to be holding through.
 Some people will point to a breakout and say "if you catch it just right then you don't need to worry about anything"; I don't know about you, but I don't want a trading life where perfection is a requirement of success

 With all of that said, what do I think is the difference between a 'long term trader' and a 'macro scalper'?
 A macro scalper is only looking for 2+ macro pips (2 or so lines on any chart) where as a long(er) term trader holds out for more...where as a long term trader holds for even more than that.

 A monthly chart seems like a long time, and it is, but it is not so long if you have 8 monthly charts working or are maxed out in size (you are at your smallest line width) on a monthly chart.

 Like a discussion of OPM, a discussion of space usually moves along this path:
 "this is how I see it", your definition does not exist in reality, "It exists for me therefore it is", I do not accept your definition, "what definition has ever perfectly encapsulated the truth?"
 


What 1 pip looks like on a 1 minute chart:
1_PIP.png
What 1 macro pip looks like on a monthly chart:
Is a 1/16 size trade really going to stress you out so bad that you won't be able to trade a small chart at the same time?
MN_EJ.png
THE MONEY IS THE SAME ON ALL CHARTS!


But the time required to collect it sure is hell isn’t!
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Re: Re:

Postby MightyOne » Thu Oct 26, 2017 5:18 pm

prochargedmopar wrote:

But the time required to collect it sure is hell isn’t!


You need to make 16 pips on a monthly chart before you earn 1 pip at the hourly position sizing.

If you have 4 MN charts going then you are making 1 for 4.

If you stack to twice your prev. size then you get 1 for 2 and that is the same size as someone who trades H4 charts.

Since the size is split between pairs and the lines are wide you end up micromanaging trades when you are awake (out of boredom) and this leads to lower loss averages (quarters instead of full lines) and much larger R/R ratios.

And what about price moving hundreds of pips while you slept, worked on cars, and whatever else that you like to do?
Do 'effortless' pips count for nothing?

Could you have made more money, and faster, if you just traded an M15 with 16x size? Sure, but don't confuse what you see on a calculator with what you achieve in practice:
what usually happens is that you risk more money, make more money, lose more money, and the end result is mediocrity.

I you find a balance between periods and you diversify between pairs/markets then you will make the same money with less risk and and have a higher probability of success.

Whether you trade a small chart, large chart, or a range of charts, how well you reinvest profits determines the speed of gains; not the chart that you are trading.

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Re: Re:

Postby prochargedmopar » Thu Oct 26, 2017 5:35 pm

MightyOne wrote:
prochargedmopar wrote:

But the time required to collect it sure is hell isn’t!


You need to make 16 pips on a monthly chart before you earn 1 pip at the hourly position sizing.

If you have 4 MN charts going then you are making 1 for 4.

If you stack to twice your prev. size then you get 1 for 2 and that is the same size as someone who trades H4 charts.

Since the size is split between pairs and the lines are wide you end up micromanaging trades when you are awake (out of boredom) and this leads to lower loss averages (quarters instead of full lines) and much larger R/R ratios.

And what about price moving hundreds of pips while you slept, worked on cars, and whatever else that you like to do?
Do 'effortless' pips count for nothing?

Could you have made more money, and faster, if you just traded an M15 with 16x size? Sure, but don't confuse what you see on a calculator with what you achieve in practice:
what usually happens is that you risk more money, make more money, lose more money, and the end result is mediocrity.

I you find a balance between periods and you diversify between pairs/markets then you will make the same money with less risk and and have a higher probability of success.

Whether you trade a small chart, large chart, or a range of charts, how well you reinvest profits determines the speed of gains; not the chart that you are trading.


I’m still befuddled on how to put this in practice.
All my trades are 1 cent per pip.

BD8AA281-E346-451B-B539-D7272D9787C6.jpeg
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#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Re: A fresh start! Doji's Trading Journal

Postby MightyOne » Fri Oct 27, 2017 3:44 pm

dojirock wrote:I just saw your comment about "1/16 the size really gonna stress me out........" I think theres the problem for me... I open at say 1/3 then stack the other 2/3 after in profit, to my max allows. Then I aggressively protect my profit.

doji


You leg in because of volatility; where is the volatility when sized to a monthly chart?

You enter 1/3 to reduce the volatility to your account but at 1/16 size (much smaller than 1/3) you have already done that.

So although you "trade it in the same way" you need not take similar precautions:
if your risk is 1.5 lines, at 1/16 size, then you might double at +1 line leaving you with a 1.25 line retracement to your initial risk;
if a line is 7 pips then that is suicidal but if a line is 112 pips then what are you worrying about?

On a small chart you might take a loss at -2.8 of 8 pips where as on a monthly chart that is -.525 of 1.5 lines: you can SSS and still make it back in time to take a small loss :lol:

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Re: A fresh start! Doji's Trading Journal

Postby Captain Pugwash » Sun Oct 29, 2017 4:34 pm

dojirock wrote:Got my goal... tired, gonna trail out.
Nite all!

doji2017-10-24_0140.png


hi Doji

what instrument and timeframe are you trading on these charts??

Thanks shipmate
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY

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Re: A fresh start! Doji's Trading Journal

Postby dojirock » Sun Oct 29, 2017 8:56 pm

Sorry about that, I usually try to make sure thats on the chart.

USD/JPY 15 min time frame.

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 Captain Pugwash » Mon Oct 30, 2017 8:36 am

Thanks mate

Now I can dig a little deeper :)

Impressive trade btw, momo breaks momo an all
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY

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