A fresh start! Doji's Trading Journal

[arkan1976]

Thanks Doji,
wanted to show a trade that went wrong before and it was because I did not keep the rules, is correct Doji?

[dojirock]

Kind of Arkan.
If your looking for a set of defined rules then yes, your 100 percent right.
The market cant be mastered that way though. I use it as a strong indication of how I see the market and it tells me a direction to trade in. BUT I do still look at momentum, break of momentum ect. For example in the above picture, by the definable rules, yes the "should have entered here" is spot on. I would also go short at the top line of your red RB also due to the fact we had a bullish RB that failed to break with the next red RB, price starts to shoot away long but then look what happens? we get a close below the bullish RB twice and the candle at top before that close was a bearish momentum candle... I guess my point is, with everything I have learned, I have never traded just by the definable rules of RB alone but I can tell you and you will see for yourself, a very high percentage of turns in the market, the RB's are spot on when used correctly. Over time I have learned to enter at closes of a failed RB and add to my position as stacks when the RB's give me confluence.

Hope this makes sense...

[newscalper]

It's been written about, oooh, 10 gazillion times in the last 3 pages Step by step

You've got the whole thread to read
Failing that page 293

[Jalarupa]

if anyone could write the rules for drawing rectangles RB, thanks

Hey Joksa,

You've been around long enough to know what a Zero Line is...

Well these boxes just connect the zero lines of pivot high and low candle opens and closes, which in turn create a high low Line in the sand scenario... whereby price may cross but not close beyond in order to confirm a bias... (which is set via Momentum Body in Dir Profit Wick Doll)

https://www.tradingview.com/x/3IH6wDIF/

and now without boxes just lines...

https://www.tradingview.com/x/fv0lqhpt/

Basically the method looks to trade the hook that comes back into the initial momentum blast or breakout (zeroline) in the direction of profit...

If you want an indicator that draws these lines for you there is one on Insanity Industries called Dragon Lines OC or something to that effect...

Cheers

[bettlebox]

Trade today on EU Price was clearly moving up with lots room above. The setup was on 15min and entry was on 5min for the best price.All im doing is follow the lower time frame price waves in direction of higher time frame direction. Using 4hr and 1hr Zlines as turn points and targets.

NB: Its taken me along time to realise that what TRO has been saying since day one about entries. Waiting until you see something visual to confirm your entry will just increase your stop/loss size and lower your chance at making a profit on a trade, not good. Like TRO say over and over , just enter at "a line" with no visual confirmation and have a very simple set of rules to exit(if trades coming against you) this will get you the best price you want at very small risk.Example My risk on this trade was 4 pips(including the spread).

[newscalper]

Nice BB
My entry today was on a similar thought pattern - didn't wait for confirmation and went in on an up-bar at the line


Still holding atm. Maybe should have taken the 20. Dunno.

[bettlebox]

Hi News

Those entries just make whole lot sense now.

My exit strategy, I currently using 5min wave violation as exit. Why? What i noticed was in 1hr swing price will honour, 90% time all 5min wave patterns until price is ready to turn and start a new swing in opposite direction and 4hr swing will honour 90% time all 15min wave patterns, again until it price is ready to turn and start and a new 4hr swing. Or if price hits a zline i will get ready to just exit.

nb:just be aware a long breakout movement, price may well bounce around in it for awhile.

Nice BB
My entry today was on a similar thought pattern - didn't wait for confirmation and went in on an up-bar at the line


Still holding atm. Maybe should have taken the 20. Dunno.

[newscalper]

Out, just got the 10 pips or so

[bettlebox]

This how i traded the interest rate drop on euro last thursday on EurUsd. To be honest i didnt find out about the news until thursday evening I just thought they were on grab for held money left below the position. Lucky i guess.

I had to snip the drop it was compressing the chart so you can't see the detail.

[arkan1976]

usdjpy short ...