A fresh start! Doji's Trading Journal

[cwn6161]

What's the benefit to futures?

[onontsira]

ono

Momo, zlines, sd occur on any tf. The question is, how much do you want and expect to take.

On smaller tf's you are taking a few, Larger you are taking more.

Dragon said one time ~ price goes from zline to zline. I see it now as price going from s to d, and d to s.

When on higher tf's price will not go straight from s to d or d to s. Dragon in is past charts, bought and sold on his way to h4 zlines, but his larger targets (at the time) were from h4 zline to h4 zline.

I wish i had that chart to show you. Quite the eye opener.

** Started a futures account and scalping the heck outta CL today. Same concepts, only diff - i'm trading on the m1.

Thank you Pariah!

In the meantime, I found this (quoted from Dragon):

Building up a momentum starts on the smallest frame there is. You can try to catch it while it is happening but that is some trading for in the future. You pick a frame! Lets say H1 as baseframe. Draw your zerolines on that frame. When price is around your line start seeking for M15 candles away from that line (compare the size against other candles, when they are bigger start drawing lines on the M15) watch carefully the pullbacks and use the ratentry or place limits (i prefer ratentry) It is still strange to buy when the market is giving you negative candles, but that's me.
I target always the H1 zerolines and make multiple entrys because of the size i play. I do not scale in my size. Seek what fits you the best. I dream of making several 100 pips at once but what i do is comfortabel to me and i do not have the patience to wait several days to make the right entry.

conclusion: starting with H1 zeroline to buy. Every M15 zeroline above that line is valid to trade AFTER price is rejected from the H1 zeroline. That way you can try to catch H1 momo in the other direction. Take smaller pips because you need to target every M15 zeroline on your way.

Once you have your H1 momo you know how it works


He mentionned "You can try to catch it while it is happening but that is some trading for in the future", that's what I would like to do but don't have
a high tf closed candle to rely on in that case, thus no "confirmation"... Will it be more risky than WITH a closed candle behind me?... And where to put my stop then?...

When I got a high tf closed candle, I put it beyond the extreme. If I trade M30 via M5, the SL beyond my M30 extreme is not that far, and the RR ratio is acceptable regarding to my target (which is the opposite M30 ZL).

If I now process the same way with H8 (entering after H8 close), the RR ratio will be quite the same I presume if I put my stop as usual. Because SL will be far, but also target. Should be the same.

But if I can enter "during" the future wick of a higher tf candle, still with M5, my RR ratio would be much better because my target is now far, and my stop is close. Make sense?

If I have nothing behind me except low tf closed candles, I may be stopped out more often? (because it is "guessing" where the extreme is located)

I miss something for sure

Maybe concerning the SL placement...

[seacap]

Onontsira, what you describe here is the same method that Dragon, Es/pip, Seiden use. For example: find a demand/zl on 1h, switch to 5 min, find demand/zl there in the zone of 1h demand/zl, enter. Small risk based on 5min and good potential reward based on 1h.

[FXfreak]

hey doji, what do you think about my current trade?

[onontsira]

Onontsira, what you describe here is the same method that Dragon, Es/pip, Seiden use. For example: find a demand/zl on 1h, switch to 5 min, find demand/zl there in the zone of 1h demand/zl, enter. Small risk based on 5min and good potential reward based on 1h.

Ok, so where do we place our SL?

Let me ask in another way: do we put our SL beyond the last H1 extreme (far from our entry) or beyond the last M5 extreme that made us enter?

I made a chart on 3 points. I think the answer is at 3/, but not sure...

[pariah]

cw,

Futures trading is highly regulated. Watched.

Forex is still the wild west. Alot of these brokers aren't properly funded. Some fx brokers go broke. Others have been fined for (manipulation). While others are as legit as online sports betting sites. Forex is still highly unregulated, but the powers that be assure us that things are changing.

**50:1 leverage, no hedging... think about it. Most of these 'regulations' help the brokers, not the retail trader.

When a broker tells you they're interbank, be wary.

Treat FX as the training stage of your trading career. If you can make money in fx, you can make money in other more stable, regulated markets more easily.

CL futures trade like fx but trades are instant. Open, close, no lag, no slip. The SD concepts hold almost perfectly in futures. And I love my Sierra charts!!!!!

However...If you want to make easy cash, sell out of the money options. Collect insurance premiums weekly. Boring, but almost risk free. My friends are paying their college tuition by selling options. Not a bad gig.

[pariah]

ono,

Bodies show the way, wicks in the direction of loss. WickDolls.

[dojirock]

Fx,

Looks good, you have the concept down.... market is really slow during this time though....

hey doji, what do you think about my current trade?

[seacap]

#3 IMO.

Onontsira, what you describe here is the same method that Dragon, Es/pip, Seiden use. For example: find a demand/zl on 1h, switch to 5 min, find demand/zl there in the zone of 1h demand/zl, enter. Small risk based on 5min and good potential reward based on 1h.

Ok, so where do we place our SL?

Let me ask in another way: do we put our SL beyond the last H1 extreme (far from our entry) or beyond the last M5 extreme that made us enter?

I made a chart on 3 points. I think the answer is at 3/, but not sure...

[MightyOne]

"Bodies show the way, wicks in the direction of loss. WickDolls." -Pariah

That is the first thing I ever said & it is really the only lesson that you need to learn as far as technical analysis is concerned.