A fresh start! Doji's Trading Journal

[Mira]

As for the midpoints?

Thanks MO

Now you see it, now you can't unsee it.

GBPAUDM15.png

Not all the times, MO.. but with patience it's getting better.

Thanks

[Captain Pugwash]

Thanks for posting this indi Phil.

https://www.screencast.com/t/A2yGDLqEh






btw- it was Withnail that told me about the pointy areas having little strength - he was very right of course (however, a great place for most people to think about a long and trapping them as its an obvious bit of PA that draws the eye



Edit - trying to get the image to show - thanks again Jal - that worked

[Mira]

Thanks for posting this indi Phil.
https://www.screencast.com/t/A2yGDLqEh

Captain!

Nice one!

[trojoh68]

Thanks for posting this indi Phil.
https://www.screencast.com/t/A2yGDLqEh

Awesome trade!

[MightyOne]

Thanks for posting this indi Phil.
https://www.screencast.com/t/A2yGDLqEh

It worked out and you made an extra area of profit, but had it retraced then the other guy would have an extra area of profit at each
step.

If you don't think that it will retrace then you should just short at the high breakouts of the green bars after profit taking.
If you can't bring yourself to short then can you really say that it is a bad TP? How then can you hold?

Do you see how one action or another is determined in part by OPM and ones strategy?
How important is it that you succeed on this trade? Is this all the space that you have?

Goal #1 is to minimize risk
Goal #2 is to maximize size without increasing risk
Goal #3 is to maximize pips at maximum size (+1000 pips at $2/pip? I don't think so! )

If yesterday you absorbed 5 lines, from the short, into a total risk-box of 8 then that is (13/8)size or +62.5% profit over min.
If you risk the same 2 lines (2/8) on the next trade, going long, then +5 lines brings you up to (13/8)size or +164.0% OM on the next trade.
2/3 * 2.64 or 2/3 * 1.625 is still greater than 1

for_captain.png (45.82 KiB) Viewed 3156 times

[Jalarupa]

try using imgur.com Capt... its a very good image hosting service...

[Captain Pugwash]

try using imgur.com Capt... its a very good image hosting service...

thanks Jal - just got home to find photobucket is causing problems

[Captain Pugwash]

Thanks for posting this indi Phil.
https://www.screencast.com/t/A2yGDLqEh

It worked out and you made an extra area of profit, but had it retraced then the other guy would have an extra area of profit at each
step.

If you don't think that it will retrace then you should just short at the high breakouts of the green bars after profit taking.
If you can't bring yourself to short then can you really say that it is a bad TP? How then can you hold?

Do you see how one action or another is determined in part by OPM and ones strategy?
How important is it that you succeed on this trade? Is this all the space that you have?

Goal #1 is to minimize risk
Goal #2 is to maximize size without increasing risk
Goal #3 is to maximize pips at maximum size (+1000 pips at $2/pip? I don't think so! )

If yesterday you absorbed 5 lines, from the short, into a total risk-box of 8 then that is (13/8)size or +62.5% profit over min.
If you risk the same 2 lines (2/8) on the next trade, going long, then +5 lines brings you up to (13/8)size or +164.0% OM on the next trade.
2/3 * 2.64 or 2/3 * 1.625 is still greater than 1

for_captain.png

Thanks MO - I really wish i understood this - I know it's bloody important!

[Jalarupa]

Thanks MO - I really wish i understood this - I know it's bloody important!

He's basically saying you should add where you see an opportunity to do so, and Re-invest profit + initial risk into your next trade so that you scale your win by using your initial risk + other peoples money...

That way there is less attachment to the relative 'risk' that you are taking as you were comfortable with your initial risk... and if this initial risk is small enough then you can trade without attachment to loss...

or something like that... ;P

Basically hit it with a big stick!



Don't mind the above.... I'm just a little bummed England knocked us out of the world cup women's cricket today...

[Captain Pugwash]

Thanks MO - I really wish i understood this - I know it's bloody important!

He's basically saying you should add where you see an opportunity to do so, and Re-invest profit + initial risk into your next trade so that you scale your win by using your initial risk + other peoples money...

That way there is less attachment to the relative 'risk' that you are taking as you were comfortable with your initial risk... and if this initial risk is small enough then you can trade without attachment to loss...

or something like that... ;P

Basically hit it with a big stick!

I will skype you - you unlucky devil you