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Doji Star Journal

  • #21
  • Feb 19, 2008 6:55am Feb 19, 2008 6:55am
No short signal confirmation on GU 4hr.no trade.
  • #22
  • Feb 19, 2008 12:57pm Feb 19, 2008 12:57pm
I'm SOOOO glad the bottom trendline (drawn from 1 February 2008 through 15 February 2008) on my USDCHF daily chart held!!!

I'm keeping the trade alive...holding out for a climb up above the 1.10 area. Even though it looks like it's gathering momentum to break into +1.10 area, I might also close out if it gets back up to breakeven...it's touch and go at the moment.

No other set-ups on my system to report either.
What a day!!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchf daily 19 feb 2008.gif Size: 20 KB
Click to Enlarge Name: usdchf h4 19 feb 2008.gif Size: 24 KB
  • #23
  • Edited Feb 20, 2008 12:42am Feb 19, 2008 11:38pm | Edited Feb 20, 2008 12:42am
USDCHF long still alive and kicking! It bounced off the bottom of the DeMark trendline on both the 4hr and Daily charts and looks like its headed up.Currently -66 pips.
Conundrum:should I adjust my TP to the top DeMark trendline or do I stick to my original plan?
  • #24
  • Feb 19, 2008 11:47pm Feb 19, 2008 11:47pm
These charts should've been attached to post #23.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf 4hr and daily 20 feb 2008.gif Size: 17 KB
  • #25
  • Feb 20, 2008 12:09am Feb 20, 2008 12:09am
This should have been attached as well! Dunno what's going on?!
Attached File(s)
File Type: doc USDCHF Daily 20-2-08.doc   108 KB | 308 downloads
  • #26
  • Edited 1:59am Feb 20, 2008 12:49am | Edited 1:59am
Quoting Doji Star
Hi dhalsim.
I usually get 1-4 trading opportunities per month trading Phillip's MACD system on the Daily Charts of EURUSD and GBPUSD.we all know that Phillip is a wonderfully kind gentleman who was willing to share a successful system with the rest of us. I will primarily focus this thread on a system I've developed since 2001. I've never really kept records of my trades with my own system. If it proves successful and the records of it are kept properly (by me) on this thread, then I will share the system with all the traders on FF.Having said that ,whenever a high probability MACD trade presents itself on the Dailies of EU or GU, I'll post it on this thread and Phillip's.
My system, in a nutshell, incorporates the following:
•respecting the trend, although I’m not averse to counter-trend trades
•price action
•looking out for retracements
•candlestick emotion
•I trade the EURUSD Daily, GBPUSD Daily, USDCHF Daily, USDJPY Daily as well as Silver Daily and Silver 4hr using my system on North Finance and Water House Capital MT4 Charts (they offer Silver charts), although I use a completely different Spread Trading Platform to execute my trades.
•On occasion I’ll revert back to my breakout trading ‘strategy’. A throwback from the days I only traded Gold and Silver Futures and Spreads. This was a breakout system that depended on the sudden increase of volume brought about each day when COMEX opens.
•I use 5 indicators. 3 EMA’s, MACD (a-la Phillip Nel) and Bands. These indicators are basically only used to confirm price action. Please understand that I will only be posting the details of this system once its success rate has been established through this journal.
Just to add to this particular post:-
SUPPORT AND RESISTANCE
1)Forgot about trendlines: I use Tom De Mark trendlines to determine Support/Resistance Levels. Any other trendline for me is basically rubbish.By 'rubbish' I mean it is open to personal interpretation and can be drawn randomly.
2)Occasionally, I'll use Fibonacci Retracement levels.
  • #27
  • Feb 20, 2008 1:13am Feb 20, 2008 1:13am
Quoting Doji Star
Just to add to this particular post:-
SUPPORT AND RESISTANCE
1)Forgot about trendlines: I use Tom De Mark trendlines to determine Support/Resistance Levels. Any other trendline for me is basically rubbish.
2)Occasionally, I'll use Fibonacci Retracement levels.
Thanks for the details,
I come here to see your thread everyday
Success is the small sum of efforts, repeated day in and day out.
  • #28
  • Feb 20, 2008 2:01am Feb 20, 2008 2:01am
As long as you (and I) can benefit in the slightest, I'll keep posting, my friend!
  • #29
  • Feb 20, 2008 2:09am Feb 20, 2008 2:09am
I've been eyeing the Trend Continuation signal according to Phillip Nel's MACD strategy on Silver Daily chart. Bearish Wedge forming and Bearish MACD divergence have kept me from taking this particular trade today.
Attached Image (click to enlarge)
Click to Enlarge Name: silver daily 20 feb 2008.gif Size: 35 KB
  • #30
  • Feb 20, 2008 2:19am Feb 20, 2008 2:19am
Long tail developing on USDCHF 4hr candle is still keeping me in the trade. Just have to wait it out. On average this particular trade, according to my system lasts four to five days on Daily Chart.The daily chart signal is what made me go long in the first place.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf 4hr 20 feb 2008.gif Size: 27 KB
  • #31
  • Feb 20, 2008 2:26am Feb 20, 2008 2:26am
Adjusting Stop Loss to 1.0898.This is below the previous candle's low on Daily Chart.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf d1 20 feb 2008.gif Size: 24 KB
  • #32
  • Feb 20, 2008 4:24am Feb 20, 2008 4:24am
What a drawdown!! Still not used to huge drawdowns on Daily Charts...I suppose you never do get used to them!! If my call was correst, a lot would depend on price moving through resistance just above 1.1000. Incidentally, this is where my system told me to go long!
Nice long bullish tail on 4hr chart.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf h4 20 feb 2008.gif Size: 26 KB
  • #33
  • Feb 20, 2008 7:13am Feb 20, 2008 7:13am
See accompanying 4hr chart.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf h4 20 feb 2008.gif Size: 28 KB
  • #34
  • Feb 20, 2008 7:20am Feb 20, 2008 7:20am
I'm regretting not letting Trade #1 run. I shorted GBPUSD on the evidence of the Daily Chart's candle close over the weekend. Would've been 180 pips up. However, a profit isn't a profit until you book it. Will be happy with my 100 pips over 2 lots.
  • #35
  • Feb 20, 2008 7:27am Feb 20, 2008 7:27am
EURUSD Daily: I might short EU if it closes below 1.4641.
USDCHF: Might add to my Swissy longs with a close above 1.0995.
Otherwise, there's nothing happening on my other charts.
  • #36
  • Feb 20, 2008 7:40am Feb 20, 2008 7:40am
What a rollercoaster ride !!!Looks good!Will definitely add to my longs if daily candle closes above 1.0995
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf h4 20 feb 2008.gif Size: 30 KB
  • #37
  • Feb 20, 2008 8:02am Feb 20, 2008 8:02am
Another massive Maribozu. My system gave a short signal, but the candle is once again proving way too long to chase. FYI: maribozu=long body of candlestick that doesn't necessarily have long tails or wicks.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd h4 20 feb 2008.gif Size: 25 KB
  • #38
  • Feb 20, 2008 10:31am Feb 20, 2008 10:31am
Quoting Doji Star
As long as you (and I) can benefit in the slightest, I'll keep posting, my friend!
For me there are two many systems on FF,
I need a daily system, but I dont know which one is good,
and I have seen you post many on macd thread,
so I decide to follow your journal,
and maybe a month later, I finished my paper,
I would like to follow your daily strategy,
It seems that your system base a lot on candlestick patterns such as engulfings
and I am also fans of candle pattern,
It is great to see how you trade with them!
It really benefit me so much!
Success is the small sum of efforts, repeated day in and day out.
  • #39
  • Feb 20, 2008 10:45am Feb 20, 2008 10:45am
Quoting Doji Star
I've been eyeing the Trend Continuation signal according to Phillip Nel's MACD strategy on Silver Daily chart. Bearish Wedge forming and Bearish MACD divergence have kept me from taking this particular trade today.
It is such a pleasure to see your post,
I also decide to trade daily chart with phillip's MACD strategy some days ago,
and it seems that MACD signal combined with engulfing, morning/evening stars would be a good signal, and very very good signal
Success is the small sum of efforts, repeated day in and day out.
  • #40
  • Feb 20, 2008 12:36pm Feb 20, 2008 12:36pm
"If I accomplish one thing with this thread it would be making new traders understand that you don't look for reason to trade. You look for reason not to trade. By having that mind, you eventually reach a point that when you do pull the trigger, the emotion is gone and you have confidence in what you are doing."

I'm quoting you on the 4hr MACD thread. Great post, dhalsim.
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