Scalping: 3LZZ DSR

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Jhx
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Re: Scalping: 3LZZ DSR

Postby Jhx » Fri Aug 05, 2022 6:33 pm

Does anyone know of a way to keep a trading journal? I know it's a very personal thing so I don't know if there is a specific tool, but I want to keep the track of all my trades, setups, how they worked out, outcome, potential R, etc. I guess it could be as simple as google sheets, but I also want to include my charts paired with my trades, and that's where it can get a bit unfriendly lol.

Does anyone know of any tools? Or should I just go with a simple sheet and throw my charts in there?

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Re: Scalping: 3LZZ DSR

Postby aliassmith » Fri Aug 05, 2022 7:27 pm

Jhx wrote:Does anyone know of a way to keep a trading journal? I know it's a very personal thing so I don't know if there is a specific tool, but I want to keep the track of all my trades, setups, how they worked out, outcome, potential R, etc. I guess it could be as simple as google sheets, but I also want to include my charts paired with my trades, and that's where it can get a bit unfriendly lol.

Does anyone know of any tools? Or should I just go with a simple sheet and throw my charts in there?


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Print the chart and write on the back.
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Re: Scalping: 3LZZ DSR

Postby Don_xyZ » Sat Aug 06, 2022 2:36 am

Jhx wrote:Does anyone know of a way to keep a trading journal? I know it's a very personal thing so I don't know if there is a specific tool, but I want to keep the track of all my trades, setups, how they worked out, outcome, potential R, etc. I guess it could be as simple as google sheets, but I also want to include my charts paired with my trades, and that's where it can get a bit unfriendly lol.

Does anyone know of any tools? Or should I just go with a simple sheet and throw my charts in there?


Just use google docs. Put the chart and write below the chart. There is a function to draw a table if you need it and then just copy the table for future uses. Simple. But yes, I did it like Alias back then. Print and compile the charts into a book. I carry it with me.
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Re: Scalping: 3LZZ DSR

Postby Jhx » Mon Aug 08, 2022 12:07 am

After Friday's session ended I started making my journal and reviewing all of my last week's trades. A few were bad entries (of which a few worked well and others didn't), and I saw that there were some weak trades as well.

I also started a spreadsheet to measuring my 'pattern', the length of the legs, of the pullbacks, the difference between those (% wise), how much time it takes to complete, when the pullback goes back over the first breakout, and I could gather some good stats I think.

Overall the things I noticed are:
1- Entries that aren't too good, due to pullbacks that go way past the first breakout or not-so-good momentum (either not very 'large' bars, or bars that already have more wick than body).
2- I'm taking profit too soon; on average I'm leaving 1.75R more on the table (which is a lot). Of course this is an average and I'm not saying 'switch the target from 1R to 2.75', but there's something in using a larger amount of the expected leg as a target instead of targeting the range of the pullback (which is different in every trade).
3- In some trades that didn't have big 'stronger' momentum bars I was too quick to enter, which resulted in price going back to entry to a deeper pullback, so I've decided to wait at least an M1 bar before taking the trigger (unless the momentum is really strong or if the last M1 candle of the M5 candle gave the M5 candle a wick, if that makes sense).
4- Trades solve themselves out really quick, usually in the same M5 bar or the next, if it doesn't it's better to just attempt to exit with a smaller loss in in candle #3 (meaning 2 candles after the entry).

Doing this helped visualise the trades a bit better as well and have a better 'if list'.

Also I have my journal ready to keep logging my information on a daily basis (much better doing it as a daily wrap up than at the end of the week, as I had to revisit every trade to log them again).


Hopefully this week will be better with some tweaks, picking better targets and avoiding worse looking entries :mrgreen:

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Re: Scalping: 3LZZ DSR

Postby Jhx » Mon Aug 08, 2022 4:33 pm

More learning today.

It started like this. I saw a range going up, and followed the SMA. In some entries I was hesitant to take more than 1R, in one of them I got in late (it was too quick). In some I felt I my entries were near the top of the range.
GU_08082022_1.png
GU_08082022_1.png (179.3 KiB) Viewed 220 times


After the trades in that range I was -1R total.

So then I zoomed out and marked some things I saw. A larger zline, a larger trendline, saw price breaking out of a that range, formed an smaller range, and traded away from the zline. I also noticed price below the SMA and my eyes were telling me to go short but the sma was still long-colored and gave a conflict of bias. Instead I decided do adjust it as a simple line and go long above and short below, and then the trades made sense with the bias, away from the H4 zline, below SMA, toward the trendline (support). Traded 2 shorts off the top of the smaller pattern and then a continuation.

With all the next wins, I went up 5R.
GU_08082022_2.png
GU_08082022_2.png (242.01 KiB) Viewed 220 times


This was the larger structure I was seeing.
GU_08082022_3.png
GU_08082022_3.png (186.39 KiB) Viewed 220 times


And from that I would've gone short and could've worked but my session had already ended.

I'm realizing that the less rigid I am, the better I do.. if I just draw what I see and follow the price it can give higher R trades, specially when following the lines I see when zooming out (or higher TF).. but I also feel some of that is hard to quantify in stats. Starting with the fact that (I think) drawing these things has a bit of personal interpretation or discretion.

And some entry triggers are just limit orders where the entry, the stop, or the TP is "about there" and have doubts if I can replicate that, but today overall was a great day.

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Re: Scalping: 3LZZ DSR

Postby Jhx » Mon Aug 08, 2022 5:45 pm

The same way I found the previous 'larger' range, it can be found in smaller swings which form the smaller patterns, and I could trade the tops or bottoms of the patterns in the direction of the bias until it has a significant break, and trade the continuation (in the direction of the bias) until it forms another pattern and so on.

One of the keys seems to have a good bias to know where price is and where it could be going to not be scared about direction. Bias and patterns in patterns.

GU_08082022_4.png
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Re: Scalping: 3LZZ DSR

Postby Jhx » Mon Aug 08, 2022 5:53 pm

And maybe zoom out a bit until I have a better idea where price is.

GU_08082022_5_M30.png
GU_08082022_5_M30.png (198.86 KiB) Viewed 200 times

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Re: Scalping: 3LZZ DSR

Postby Jhx » Mon Aug 08, 2022 9:00 pm

Side question. Does anyone know if there's any way to keep the 20 period SMA off the M5 when going into an M1 chart? Sometimes I just need to go into the M1 but only to pinpoint a SL or to see how the candle moved.

Edit: Workaround for now is placing 2 SMAs and changing the visualization to only show the 20 sma on M5 and the 100 sma on M1 (I suppose that's similar enough).

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Re: Scalping: 3LZZ DSR

Postby Jhx » Tue Aug 09, 2022 4:05 am

Just an old chart from doji that I came across.

2017-09-21_2201_9.jpeg
2017-09-21_2201_9.jpeg (172.57 KiB) Viewed 118 times


This is how I see it now, and the pattern that I'm mostly trying to trade, but it's there. I guess this was how my intellect could 'see' it easier maybe
2017-09-21_2201_9_2.jpeg
2017-09-21_2201_9_2.jpeg (92.38 KiB) Viewed 118 times

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Re: Scalping: 3LZZ DSR

Postby Jhx » Tue Aug 09, 2022 4:10 pm

3R today. A long for 2R (trying to force myself to trust my stats), one short for 1R.

I also think I've found a way to not drive myself crazy. Drawing the smaller swings off the M5 was a bit tough sometimes, so when I see that the pattern is forming or about to form I go into the M1 with the M5 overlays to keep a closer look at it, while keeping the SMA in there for M1 to match the M5. That way I can see the setup better.

Also I can see the larger stuff that's happening off the M5. So I think I'm happy with how I'm using my charts now. Like this:
GU_08092022_0.png
GU_08092022_0.png (228.13 KiB) Viewed 65 times


Long:
GU_08092022_1.png
GU_08092022_1.png (18.3 KiB) Viewed 65 times


Short:
GU_08092022_2.png
GU_08092022_2.png (172.16 KiB) Viewed 65 times


This is how I'm gathering stats for my pattern, W/L, if I took it or I didn't, if it's a re-entry (in the case that I entered and it made a deeper pullback), the moves and pullbacks lengths, potential R, if the second pullback went past the first breakout, how much time it took, and how much time it would've taken for the max R. I'm only logging those that are 'valid' in the sense that happen in the direction of the bias.

Pattern_Stats.png
Pattern_Stats.png (101.05 KiB) Viewed 64 times


These are for stats, I did some note taking on google docs but I also do want to print my charts. I might need to invert colors to avoid the black background and not annihilate my printer lol :lol:

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