A fresh start! Doji's Trading Journal

[Jalarupa]

I traded this earlier, and it seems like a strategy very much suited to scalpers... (I know duh! right?)

But definately nice to pick areas to add to longer term positions as well...

I also think a lot of your confusion news is also that of the markets...

let's not forget tonight its all Bernank's show...

[raw]

News,

Its the same thing.

What Doji refers to as htf Bias, SD levels confirm bias on a smaller tf. Drop or rally from a point already identifies some kind of momentum. (bias). In this light, it is all quite similar.


I don't look for bias, 50%, lis, fibs macD, because they all confuse me. I just draw a rectangle. The edges are zlines. That's it. Does it close over, or does it close under. My lines change constantly, as older sd areas are consumed, new ones are created.


I marked up Doji's chart. Hope it clears things a bit.

[raw]

Just closed.

Bias, or sd. I think its the same. Price dropped earlier today (bias). Price retraces 50% or previous broken dem new sup, then price drops with bias or because price hit sup. Same thing.

[newscalper]

Jal - if you traded that long, then from a Doji rb pov you're ignoring the higher TF - it was straight up into a 'down' rb on h1? 'Go with H1 behind you', well H1 hasn't broken?

I've since gone long on the thing but from that pov it's early as the H1 rb hasn't broken with an rb to the upside, it's just giong sideways now.

[dojirock]

Hi News,

Couple of points.

I have mentioned in the thread and Mo has somewhere a long time ago, use multiples of 4-5 at most. Using the 5 min as a entry chart then use a bias of 4-5 times that max if you want to keep your SL's tight.

Couple post back, bias, lower high, lower low for possible bias change

Using the 1-4 hr, your right it is bearish, but you trade larger SL's with those time frames.

Takes lots of practice to use the RB'S as a bias. Start with something easier. (MACD)

I liked Mo's comment a few post back about simplicity. To me bias is simple but explaining it, the challenge.

My advice is pick one way to determine bias and stick with it. I recommend the macd. We dont trade the crosses, we use it as a momentum bias direction and the RB's as the entry style on a lower time frame.

As you know I hate overlays... so I change the numbers of any indicator to reflect the higher time frames on my entry time based chart.

That being said, look at my macd, its reflecting about a 7-9 min time frame on a 5 min entry chart. Multiple of 4-5 would be a 25 min chart max for bias. I like short ones because I scalp.

I mark the RB's, ignoring most that dont follow the bias. For the next week I will only post this template so you can see the consistancy and simplicity.

Right the whole bias thing.
My bias here is short right. Why? Because there is an H1 down zone right there. Also on H4 there's one too.
But,


Short trades failed. Then price goes up and through the zone, shift bias long. Right? Why MACD is long, M15 is long but is tht H1 box just being wicked to the upside, plus it's still within the H4 box??

Now price is above the H1 zone but still inside the H4 zone, MACD saying up, M15 saying up, M5 saying down. LOL. So bias up or down?

Who knows?

[Jalarupa]

Jal - if you traded that long, then from a Doji rb pov you're ignoring the higher TF - it was straight up into a 'down' rb on h1? 'Go with H1 behind you', well H1 hasn't broken?

I've since gone long on the thing but from that pov it's early as the H1 rb hasn't broken with an rb to the upside, it's just giong sideways now.

Yeah hence I say its more for the scalpers... \

Not that I have a problem with scalping...

Also note the MA on the M15... I tell you, its some
Funky Vodoo going on...

[newscalper]

News,

I am trading like Doji. At least I think I am, given that I'm modelling my trading by the method(s) outlined in his thread.


1. Look at the chart I posted. Look at the stack entries. I don't know what you mean by 'pure' price action, but that chart exhibits continuation trades. Continuation trades (stacking) only work, if the level fails.

I've marked up the S D zones/(line) in the black rectangles. As candles cross and close below these zones/lines, I continue to sell. A retrace wick is all I need to know that price will continue south.


2. The latest chart I'm posting exhibits the same concept. Price crosses and closes beyond a zline (zline was taken from previous dem level) Price retraces to that line, and I sell. I let this trade ride, cuz I had to hit the books this afternoon. Made around 15 pips.


Its 3am, gotta crash, hope this helps you...

Raw - you saying you're trafing like Doji but those black zones are not rbs, and not drawn as Seiden draws them either - the green one at the top is but as to what you're using as a basis for the black ones? No idea, they just look like they're in the middle of the previous run down: 'empty space'. What am I looking at? Even if they were rbs, Doji isn't using them that far back afaik? I'm not knocking it, I just don't know what you're drawing?

[dojirock]

out +35

[dojirock]

G/U example

[newscalper]

Hi News,

Couple of points.

I have mentioned in the thread and Mo has somewhere a long time ago, use multiples of 4-5 at most. Using the 5 min as a entry chart then use a bias of 4-5 times that max if you want to keep your SL's tight.

Couple post back, bias, lower high, lower low for possible bias change

Using the 1-4 hr, your right it is bearish, but you trade larger SL's with those time frames.

Takes lots of practice to use the RB'S as a bias. Start with something easier. (MACD)

I liked Mo's comment a few post back about simplicity. To me bias is simple but explaining it, the challenge.

My advice is pick one way to determine bias and stick with it. I recommend the macd. We dont trade the crosses, we use it as a momentum bias direction and the RB's as the entry style on a lower time frame.

As you know I hate overlays... so I change the numbers of any indicator to reflect the higher time frames on my entry time based chart.

That being said, look at my macd, its reflecting about a 7-9 min time frame on a 5 min entry chart. Multiple of 4-5 would be a 25 min chart max for bias. I like short ones because I scalp.

I mark the RB's, ignoring most that dont follow the bias. For the next week I will only post this template so you can see the consistancy and simplicity.

Right the whole bias thing.
My bias here is short right. Why? Because there is an H1 down zone right there. Also on H4 there's one too.
But,


Short trades failed. Then price goes up and through the zone, shift bias long. Right? Why MACD is long, M15 is long but is tht H1 box just being wicked to the upside, plus it's still within the H4 box??

Now price is above the H1 zone but still inside the H4 zone, MACD saying up, M15 saying up, M5 saying down. LOL. So bias up or down?

Who knows?

OK, that's fair enough...BUT hehe the logic just isn't consistent is it? The charts you recently showed the setup with used H4, H1 and M5?

If I was looking at the H1 only and seeing the red rb I should be thinking short and only short. Yes?
So I'm looking to enter on a shoter tf. and all the entries failed

Magically for some reason the entries from the shorter TF saying 'go long and ignore the big red rb it's the last one in the trend that's going to fail) won out. Why on earth would I go long straight into that?

Look to the left I hear someone say, there's a supply level there.....yeah yeah yeah, here we go again