A fresh start! Doji's Trading Journal

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

Postby aliassmith » Thu Dec 19, 2019 9:15 pm

Using the PMBIASCANDLES indy
Entering on the pullback of the next candle in the yellow areas
It allowed for some profits. The ATR was 7 and 8 for those trades marked.
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Re: A fresh start! Doji's Trading Journal

Postby aliassmith » Fri Dec 20, 2019 1:34 am

Zlines
Zlines
Zlines
Pre-Asia/Open
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Re: A fresh start! Doji's Trading Journal

Postby aliassmith » Fri Dec 20, 2019 4:48 pm

PMBIASCANDLES
Set-up on the M15 chart
Some currencies I have it set on H4 and Daily because their ranges are smaller.
Color change on Indy candles
Retrace 50% to breakout area
Enter with multiple entries
use ATR to approximate your exit
SL outside of last turn.
Attachments
GBPUSDM15pmbiascandles1220.png
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Re: A fresh start! Doji's Trading Journal

Postby aliassmith » Fri Jan 17, 2020 10:50 pm

Looking for candles closing outside of "ranges" are important to me. This indy put on a bar chart is even better to cut out the clutter. An alert lets me know if there is something I should take a look at, so I can make breakfast or do something else. Here is a M5 example from about 8am to 11am EST.
+4,+4,-8,+7,+7 = net 14 after costs.
4 out of 5 = 80% win rate
Each pip is equal value.
ATR was above 4 during that period
GBP/JPY, EUR/JPY, EUR/USD are also scalpable on the M5
Attachments
GBPUSDM5.1172020.png
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Re: A fresh start! Doji's Trading Journal

Postby Jalarupa » Sat Jan 18, 2020 10:05 am

Does anyone have the MQ4 file for this PM momo indicator? I can't find it anywhere on the web...
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Re: A fresh start! Doji's Trading Journal

Postby aliassmith » Sat Jan 18, 2020 3:03 pm

Jalarupa wrote:Does anyone have the MQ4 file for this PM momo indicator? I can't find it anywhere on the web...


As is the PMcandlebias does the same thing as far as I can tell.
I see PMmomo has other options but they don't seem to do anything.
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Re: A fresh start! Doji's Trading Journal

Postby aliassmith » Sat Jan 18, 2020 4:34 pm

Added A custom Fib. Its not actually new, I've done this for years.
I don't use fib numbers, but I have it set up to quickly check for Targets of 1:1, 2:1,3:1 etc.
If you play around with entries from various points you can see how the targets are very accurate.
Breakouts
50% retraces

On that same chart with an earlier entry there was a 10:1, its lower probability.
Higher prob. targets are less than 1:1 up to 3:1.
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Re: A fresh start! Doji's Trading Journal

Postby Jhx » Tue Jan 21, 2020 5:03 pm

Good stuff =D>

aliassmith wrote:PMBIASCANDLES
Set-up on the M15 chart
Some currencies I have it set on H4 and Daily because their ranges are smaller.
Color change on Indy candles
Retrace 50% to breakout area
Enter with multiple entries
use ATR to approximate your exit
SL outside of last turn.


In those charts, do you look at smaller timeframes to fine tune the entries? Or do you just take the trade at the breakout area when price gets there?

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Re: A fresh start! Doji's Trading Journal

Postby aliassmith » Tue Jan 21, 2020 7:02 pm

Jhx wrote:Good stuff =D>

aliassmith wrote:PMBIASCANDLES
Set-up on the M15 chart
Some currencies I have it set on H4 and Daily because their ranges are smaller.
Color change on Indy candles
Retrace 50% to breakout area
Enter with multiple entries
use ATR to approximate your exit
SL outside of last turn.


In those charts, do you look at smaller timeframes to fine tune the entries? Or do you just take the trade at the breakout area when price gets there?


Just that one chart
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Re: A fresh start! Doji's Trading Journal

Postby trojoh68 » Wed Jan 22, 2020 10:44 pm

aliassmith wrote:Looking for candles closing outside of "ranges" are important to me. This indy put on a bar chart is even better to cut out the clutter. An alert lets me know if there is something I should take a look at, so I can make breakfast or do something else. Here is a M5 example from about 8am to 11am EST.
+4,+4,-8,+7,+7 = net 14 after costs.
4 out of 5 = 80% win rate
Each pip is equal value.
ATR was above 4 during that period
GBP/JPY, EUR/JPY, EUR/USD are also scalpable on the M5



Alias,

I have couple questions, if you don't mind:

(1) I understand that you are using 50% and breakout lines (z-lines) for entries. But am I right in noticing that you are taking entry on color change indy candle after a lower high (shorts), and if the run continues then you are taking every other wave?

(2) You are using both ATR and the modified fibs for targets. Are there "conditions" that dictate which one you choose, or do you watch both?

trojoh68

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