A fresh start! Doji's Trading Journal

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dojirock
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Re: A fresh start! Doji's Trading Journal

Postby dojirock » Tue Dec 12, 2017 11:56 am

Great Charts L,

I actually took the short and passed on the long. hahah
Keep pillaging!

doji
It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"

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Re: A fresh start! Doji's Trading Journal

Postby LegendofZline » Tue Dec 12, 2017 12:38 pm

dojirock wrote:Great Charts L,

I actually took the short and passed on the long. hahah
Keep pillaging!

doji



Looking at the charts now i could see why you wouldve passed on it. Im seeing that the price action showed momentum red candle down to get to the wicked areas for the long. Which would tell you not go long anymore.

Cheers let me know if im missing any other insight on these trades im posting. I will be posting more on my thread also just to keep yours clean and clear.

trojoh68
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Re: A fresh start! Doji's Trading Journal

Postby trojoh68 » Mon Dec 18, 2017 5:57 pm

I've not been able to post for awhile, but have continued to check the forum from time to time from my work laptop. In the interim, I have continued to attempt trading DojiZones and understand what is going on in these areas so that I can "see." Below are three images of EurCad from this morning. They are indicative of problems that I have had as well as a potential understanding that I have developed about price movement. I would appreciate feedback from Doji (it's his thread) or any others of you that have been generous with your knowledge. My post will be a little lengthy, but I believe that coupled with wise feedback it may be of help to others that are trying to learn.

Image 1 - This is an attempt to trade DojiZones according my understanding of how we are to draw them. The thin yellow lines are a 15 minute DojiZone. The thicker yellow lines are a DojiZone based on small swings rather than just the M15 candles. I thought that the confluence of the two zones might increase the probability of the zone holding and getting wicked. You can see that I entered in a few areas. I generally enter when price enters a zone in anticipation of it wicking the zone. I also break my full entry size up to average out my entry price. When the 9:45 candle closed below the larger zone I exited the trade at a small loss. Was my thinking of confluence sound in this area, or was I crazy for trading in this area of consolidation? Next, I attempt to trade the reversal. Accordingly, I doubled my risk amount with my stop above the swing (not visible in the image). I made two partial entries, the first as price crossed into the larger DojiZone and the second as it touched the smaller zone. As you can see, this yielded a large loss. I took these trades with very small amounts of money because I have yet to be consistently profitable. Truthfully, I did not like this reversal set-up for reasons that I will explain in the next image, but these days of losing in both directions with greater risk are what hurt my account most.

Image 2 - As I stated above, I didn't feel comfortable with the reversal set-up. The reason for this was that though price close below the zones, it did not close below the area of support evidenced by several candles but (for me) specifically the low of the 9:15 bullish candle. In this image, I have drawn my "zone" a little differently. I have marked the beginnings of the momentum candles --- red for downward momentum and green for upward momentum. I did this because the wicks of these candles are the highs and lows of waves on a smaller time frame. In my mind, they are origin points of momentum in their particular directions and thus serve as potential points of support/resistance. As you can see, this would have yielded a profitable trade initially, albeit with some drawdown because the zone is bigger. Am I on the right track in thinking this way? My reasoning on this has been shaped by my understanding of posts by Doji (ABCD's, zones), MO (1-2-3's), and Jalarupa (BO-BI-Boom) in this thread and some others.

Image 3 - Applying the same logic, I have drawn my zone to identify the potential area of reversal and added a DojiZone as an entry target. The trade was a profitable scalp trade and I exited early at 1.5176 because price failed (again) to close below the 9:15 bullish candle --- which (for me) is an unbroken origin of momentum.

Again, I would appreciate feedback on this. I am attempting to "see" and "make this my own" as many of you encourage us learners to do. Any other "learners" are welcome to respond too, because we learn together. Thanks in advance.

Image

https://imgur.com/a/6ewph

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dojirock
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Re: A fresh start! Doji's Trading Journal

Postby dojirock » Tue Dec 19, 2017 3:00 am

Your on the right track! Your dojizones are spot on. The momentum bars are not part of the momentum breaking momentum though. They form the dojizone. The next step is to see the initial run, retest, BO, BO line then entry upon strike of said line. Your just missing some pages of the Price Action story or assembling them out of order.
Check your PM.

doji
It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"

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Re: A fresh start! Doji's Trading Journal

Postby trojoh68 » Tue Dec 19, 2017 1:20 pm

dojirock wrote:Your on the right track! Your dojizones are spot on. The momentum bars are not part of the momentum breaking momentum though. They form the dojizone. The next step is to see the initial run, retest, BO, BO line then entry upon strike of said line. Your just missing some pages of the Price Action story or assembling them out of order.
Check your PM.

doji



Doji,

Thanks for the affirmation and critique. Your thread here that lays out your learning and processing, coupled with the input of others on it, has been of great help to me (and other learners, I am sure). I've read it through a few times since the summer and continue to look back at particular posts. I will continue to study it and pay attention to the aspects that you have mentioned above. I am very appreciative of your feedback.

trojoh68

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Re: A fresh start! Doji's Trading Journal

Postby dojirock » Mon Dec 25, 2017 10:34 pm

I wanted to wish all of my Trading friends and followers a very Merry Christmas!
Have a safe and Happy New Year!

doji
It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"

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Re: A fresh start! Doji's Trading Journal

Postby Sandra » Fri Mar 23, 2018 4:02 am

Remember that Dojizones will always be above or below the CC which makes them so powerful

S

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Re: A fresh start! Doji's Trading Journal

Postby Mira » Fri Mar 23, 2018 11:15 am

Sandra wrote:Remember that Dojizones will always be above or below the CC which makes them so powerful

S


Nice to see you on the board, Sandra! And thanks for the info :D
__________ THE :smt096 IS A LIE__________

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dojirock
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Re: A fresh start! Doji's Trading Journal

Postby dojirock » Fri Mar 30, 2018 1:32 pm

Sandra wrote:Remember that Dojizones will always be above or below the CC which makes them so powerful

S



Agreed!

Keepin it simple!

doji
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It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"

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Re:

Postby PTG » Sat Mar 31, 2018 4:22 pm

dojirock wrote:News, I just noticed my chart from pages back is the same area you entered. My analysis on that chart was done on the 4hr chart(copy is below)
So I will start with that. Then I will breakdown my logic on just the 15 min chart had I not used a bias.


Bump

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