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Doji Star Journal

  • #161
  • Mar 15, 2008 5:13pm Mar 15, 2008 5:13pm
Quoting Doji Star
Absolutely furious right now! Believed I had 40 pips in the bag only to see, after my platform conveniently froze for who knows how long, that I’m in the green for a grand total of 4 pips profit!
One second I’m up by 80, I move stop to lock in 40 pips. Platform freezes. Been through this before. They will say I opened the trade around news time and the volatility was unexpectedly high,etc.
Maybe this is because I'm following MT4 charts of one broker but trading through another.MT4 is far superior to the NetDania charts offered by my broker.
Sounds like your broker could be using the infamous MT4 Brokers Virtual dealer Plug-In

Nice, thread I found following your trades / logic very interesting and entertaining. My favourate was your trade 3, stop out on the USD/JPY, that was fun to watch considering the recent price action.
Good Trading to you
  • #162
  • Mar 16, 2008 4:37am Mar 16, 2008 4:37am
DOJI STAR JOURNAL Trade History
Pips made since I started this journal 20 trading days ago:
Lost 605 pips in three trades.
Made 1441 pips in 7 trades

Total thus far:+836 pips
  • #163
  • Edited 11:14am Mar 16, 2008 5:15am | Edited 11:14am
Quoting WhipSawFX
Sounds like your broker could be using the infamous MT4 Brokers Virtual dealer Plug-In

Nice, thread I found following your trades / logic very interesting and entertaining. My favourate was your trade 3, stop out on the USD/JPY, that was fun to watch considering the recent price action.
Good Trading to you
Hi whipsaw. Welcome to my journal. Thanks for the MT4 Brokers Virtual dealer Plug-In link.
I still have a lot to learn w.r.t. trading, hence the journal.Any input from fellow traders such as yourself is greatly appreciated.
The trades posted here are essentially only the trades which are triggered by a little system I'm currently working on and once in a while the odd Phillip Nel MACD system trade which I'm also yet to master fully.
Clearly it gave a false signal with Trade #2,3,6 and will give false signals in the future.To prove whether the system is successful I have to take ALL the "high probability" signals it spews out whether with or against the trend/price action.
Good thing is,unlike most, I call them live and as a result they can't really be disputed. It's done reasonably well up to now primarily due to the Silver trades.
Wishing you many pips,
DS
  • #164
  • Edited 11:16am Mar 16, 2008 11:04am | Edited 11:16am
The truly scary part about Silver is that in relation to $1000 Gold, it is W-A-Y undervalued and has a lot of catching up to do.Traditionally the gold-silver ratio works like this, you divide the Gold price by 16 to get the price of Silver.
If you take $1000 divided by 16, you get $62,50!!That means it has over 40 000 pips to go to catch up to a centuries old correlation!!
This is based upon a bimetallic standard, which was exercised when both gold and silver were used daily as money. The ratio was fixed between 15-16 to 1.
Believe me!! Silver ALWAYS (through the years) catches up to this ratio sooner or later, so whenever I hear talk of a Silver top, I take it with a pinch of salt.
  • #165
  • Mar 16, 2008 11:12am Mar 16, 2008 11:12am
Since this journal's inception one month ago:
forex trades only =-209 pips from 6 trades
silver trades only =1045 pips from 4 trades
nett profit = 836pips from 10 trades
  • #166
  • Mar 17, 2008 8:04am Mar 17, 2008 8:04am
"Another consideration is the gold / silver ratio. The gold / silver ratio has been between 12 and 17 throughout most of recorded history. Only in my life time has the ratio gotten so out of balance. The high was reached in 1991 when it went up to 91 (1 oz of gold = 91 oz of silver). Since that time it has been trending downward. Currently the ratio is around 48:1 (1 oz of gold = 48 oz of silver). It is my opinion that the ratio will come back to its traditional value of 15 or 16. Since it has been so far above its ratio it may even overshoot it and drop down somewhere below 10 before it settles back to 15 or so. Therefore a ratio of 10:1 would put silver at $102.50/oz in today’s dollars. A ratio of 15:1 would set silver's current price at $68/oz."
Larry LaBorde-Silver Trading Company
  • #167
  • Mar 17, 2008 12:25pm Mar 17, 2008 12:25pm
Hi Doji Star,

I read through most of your posts, I must say I agree with you I have been long on Gold and Silver, as well as a basket of other commodities. Since last June most of my profits derived from gold and silver.

I just set up an account with Interactive brokers, http://www.interactivebrokers.com/ibg/main.php hoping to start day trading silver and gold myself. Might stay away from forex for a little while I have a bad feeling about the market lately too much uncertainty in the air.

Let me know if you ever heard about them, and if you think there is a better broker out there.

Good luck tradin,

Allforex
  • #168
  • Mar 18, 2008 12:34am Mar 18, 2008 12:34am
Quoting AllForex
Hi Doji Star,

I read through most of your posts, I must say I agree with you I have been long on Gold and Silver, as well as a basket of other commodities. Since last June most of my profits derived from gold and silver.

I just set up an account with Interactive brokers, http://www.interactivebrokers.com/ibg/main.php hoping to start day trading silver and gold myself. Might stay away from forex for a little while I have a bad feeling about the market lately too much uncertainty in the air.

Let me know if you ever heard about them, and if you think there is a better broker out there.

Good luck tradin,

Allforex
Hi Allforex.

I'm with you on precious metals.It's a safe bet in these uncertain times as an investment. I unfortunately only know about the South African platform and as for MT4, North Finance and Water House Capital also offer Gold and Silver.
As for day trading, it's pretty volatile at these record prices. I'd recommend you use set stops and don't be like me when I started day trading Silver, I approached it in the same way position and trend traders approach forex. Knowing that Silver is in a massive bull run, I only ever went long looking to add to my position as it went and more often than not would get stopped out only to see price skyrocket a week or so later.I stopped loading or adding to positions too frequently when daytrading these instruments. I also try not to keep positions open too long.The good news is that counter-trend trades can be potentially more lucrative as corrections are quick and severe.
More and more traders like us are realising that here's definitely a chance to cash in on precious metals through daytrading.

Hope this helps.
I wish you everything of the best with your trading,Allforex.
  • #169
  • Mar 18, 2008 9:46am Mar 18, 2008 9:46am
hi, my friend
I think there would be a bullish signal on GBPUSD according to your system
then we must get up early tomorrow
Success is the small sum of efforts, repeated day in and day out.
  • #170
  • Mar 18, 2008 2:30pm Mar 18, 2008 2:30pm
Quoting dhalsim
hi, my friend
I think there would be a bullish signal on GBPUSD according to your system
then we must get up early tomorrow
Precisely,dhalsim!
Would like to see what the candle close looks like first.
  • #171
  • Mar 19, 2008 1:39am Mar 19, 2008 1:39am
Very long upper "wick" or tail on yesterday's GU Daily candle negates long signal.
Nothing else really happening on other charts.
  • #172
  • Mar 19, 2008 1:48am Mar 19, 2008 1:48am
Quoting Doji Star
Very long upper "wick" or tail on yesterday's GU Daily candle negates long signal.
Nothing else really happening on other charts.
yes, exactly
lets wait for the next signal
glad to see you here
Success is the small sum of efforts, repeated day in and day out.
  • #173
  • Edited 8:46am Mar 19, 2008 8:10am | Edited 8:46am
Going short [email protected] lots
  • #174
  • Edited 8:48am Mar 19, 2008 8:32am | Edited 8:48am
1st lot closed for 87 pips.
2nd lot was locked in for 40 pips.Stopped out for 30 pips. Same broker problem,yes.
Attached Image (click to enlarge)
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Attached File(s)
File Type: doc Doc1.doc   90 KB | 294 downloads
  • #175
  • Mar 19, 2008 8:42am Mar 19, 2008 8:42am
The after picture...
Might go short again depending on the look of the Silver 4hr candle close.
Attached Image (click to enlarge)
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  • #176
  • Mar 19, 2008 8:54am Mar 19, 2008 8:54am
Looks like I'm short Silver 4hr in precisely 8 minutes time.
Pre-empted this... but didn't expect the candle to be over 1700 pips long!!!
Might not go short after all...let's wait and see.
  • #177
  • Mar 19, 2008 9:02am Mar 19, 2008 9:02am
Will wait for a retrace of some sorts. Will watch 3o min chart and 1hr chart for this.If none materialises I'll still be smiling. 117 pips for the day is good enough for me.
  • #178
  • Mar 19, 2008 5:06pm Mar 19, 2008 5:06pm
UJ Daily is giving short. Staying out because of Japanese public holiday, thin volumes,etc.
  • #179
  • Mar 19, 2008 8:25pm Mar 19, 2008 8:25pm
Quoting Doji Star
Will wait for a retrace of some sorts. Will watch 3o min chart and 1hr chart for this.If none materialises I'll still be smiling. 117 pips for the day is good enough for me.
Was unable to post this live,managed to open the trade, but couldn't connect to forexfactory for some reason, but here's proof of the trade.
Sold Silver after 4hr candle close,waited for 30min chart retrace, and stopped it manually just 7 minutes later (very choppy) for +85 pips.
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  • #180
  • Mar 19, 2008 8:30pm Mar 19, 2008 8:30pm
Hey bro, u got link where i can get gold chart? i had it on mt4 but now i dont see it here may be i hv to download other one. thanks in advance
regards
Quoting Doji Star
Was unable to post this live,managed to open the trade, but couldn't connect to forexfactory for some reason, but here's proof of the trade.
Sold Silver after 4hr candle close,waited for 30min chart retrace, and stopped it manually just 7 minutes later (very choppy) for +85 pips.
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