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Doji Star Journal

  • #201
  • Mar 29, 2008 11:29pm Mar 29, 2008 11:29pm
http://www.ft.com/cms/s/0/6dcf5f86-f...nclick_check=1
From the article link above:“It is difficult to buy more US Treasuries because the portion of our Treasury investment is already too big and Treasury yields have fallen a lot,” said Kwag Dae-hwan, head of global investments at the S. Korean National Pension Services. “We need to diversify our portfolio away from US Treasuries and we find asset-backed securities and corporate debt more attractive because of wider credit spreads.”
Is this a sign of things to come?
  • #202
  • Mar 30, 2008 3:59pm Mar 30, 2008 3:59pm
Quoting Doji Star
Made a whopping +401 pips on this trade!!

What a way to start a weekend!!

This trade lasted just under 30 minutes!

In future, I'll try and always post my PROFIT/LOSS statement or Cash Flow Reports (without revealing too much sensitive info,of course) to back up my trades. I know nobody can refute it when you call your trades live, but this is to prove once and for all I'm literally putting my money where my calls are.

Another thing I want to point out is that although this trade went against the overall trend in Silver, because of it's huge volatility, I found a way to trade it "hit & run" particularly if it is counter-trend. Position trading this is not,but it's proven successful over the years!!

Have a great weekend everyone!
I know I will!
Wow!

Thats fantastic trading!

Well done Doji!
I got to pay more attention to what you're doing with silver here.
I would love a trade like that over 400 pips in less than half an hour... thats beautiful! Its trades like that that make trading the best job in the world.
The more I wait the more I make
  • #203
  • Mar 31, 2008 2:44am Mar 31, 2008 2:44am
Quoting donagh_1
Wow!

Thats fantastic trading!

Well done Doji!
I got to pay more attention to what you're doing with silver here.
I would love a trade like that over 400 pips in less than half an hour... thats beautiful! Its trades like that that make trading the best job in the world.
Hi Donagh! Thanks!
That trade really made my weekend!!
These trades are usually far and few between but these are volatile times with volatile markets!-a trader's dream!
I've developed a way of waiting for the breakout, not predicting the breakout,and then jumping on board. The thing about this is that Silver cannot stop dead in it's tracks, it still goes in that direction for a few hundred pips before changing direction again.You'll notice that many of my Silver pips was achieved in a long tail where price was changing direction.I've also noticed that the 1hr ,in addition to giving more trading opportunities, has become a viable chart to trade during these days of increased volatility.
As long as you're going in the right direction and keep reasonable stops. Don't scoff at 40 pips even though the daily range is over 1000 pips.The way I see it: a profit is only a profit once you've banked it.I follow a method similar to DazFX's
http://www.forexfactory.com/showthread.php?t=75922
It's not quite the same (I don't use fibs) but it amounts to the same results.

Next time I see a valid trade in the making I'll try and post it as soon as I can with reasons for it, so we're all on the same page!

Wishing you many hundreds of pips!
DS
  • #204
  • Mar 31, 2008 3:13am Mar 31, 2008 3:13am
More on Friday's trade:
The bearish maribozu close held the key for me. Over 90% of my entries are after maribozu candle closes.Engulfing maribozu's are even better.This was the breakout I was waiting for. Once the candle closed I was in, looking to ride it on it's way down.It's a very reliable set-up. This one's confirmation was the beautiful break of the lower DeMark trendline.Even though it had a tail to it price couldn't turn around quickly enough and continued down another 426 pips.
the Fib expansion showed that it would target +-18000 wheras DeMark targeted 17931.Fib expansion is proving to set reliable targets for exit. I will look into it a bit more. I was determined to lock in 40 and let it ride. Didn't expect it to go all the way to 400 so I set that as a TP.
To my surprise, when I opened my platform the trade had been closed. I initially thought it was stopped out for 40 and jumped for joy when I realised it was closed for 400!!

Hope this helps.
Attached Image (click to enlarge)
Click to Enlarge Name: silver friday.gif Size: 31 KB
  • #205
  • Edited 3:51pm Mar 31, 2008 7:01am | Edited 3:51pm
Long Silver @ 18050.2 lots. SL = 300 pips below,setting targets at 200 and willing to lock in profits at 40 pips.

Sorry I could only post this after I saw the trade had formed. This post came exactly one minute after the trade had been placed.Was at work at the time.
  • #206
  • Mar 31, 2008 7:55am Mar 31, 2008 7:55am
Locking in 40 pips and letting it run, It's currently 103 pips up.
  • #207
  • Mar 31, 2008 9:09am Mar 31, 2008 9:09am
Judging by the long bearish engulfing candle that just closed on the 1hr chart, it seems I booked profits just in the nick of time.
Up +105 pips for the day. Still on the lookout for other trades.

Talk about a nice start to the week.
Attached Image (click to enlarge)
Click to Enlarge Name: silver monday.gif Size: 25 KB
Attached File(s)
File Type: doc Doc1.doc   167 KB | 288 downloads
  • #208
  • Mar 31, 2008 10:57am Mar 31, 2008 10:57am
Just got home and saw a Silver short developing on 4hr chart.
Nice maribozu candle forming albeit with long upper wick.Price was rejected at 50 fib retracement and bounced back dramatically, breaking lower trendline in the process.
Waiting for candle close. Only thing that will change my mind about shorting here is if the close is too close to 17220.
Attached Image (click to enlarge)
Click to Enlarge Name: silver monday 4hr.gif Size: 25 KB
  • #209
  • Mar 31, 2008 11:06am Mar 31, 2008 11:06am
Quoting Doji Star
Just got home and saw a Silver short developing on 4hr chart.
Nice maribozu candle forming albeit with long upper wick.Price was rejected at 50 fib retracement and bounced back dramatically, breaking lower trendline in the process.
Waiting for candle close. Only thing that will change my mind about shorting here is if the close is too close to 17220.
Price just hit 17029 before candle close. I'm out for the day. Don't see anything else on the charts.
  • #210
  • Apr 1, 2008 1:15am Apr 1, 2008 1:15am
Big news day today. In fact this is a big news week with NFP coming out on Friday. I expect increased volatility over the next few days leadingup to Friday's NFP announcement.
This means I'll have to tread carefully and be extremely selective with my trades as any whipsaw can take out my stops even if I picked the right trade.
  • #211
  • Edited 5:05am Apr 1, 2008 4:54am | Edited 5:05am
UJ 4hr: Bullish engulfment forming on 4hr.Could place stop just below lower trendline targeting previous high of 101.01.This is the type of breakout I look for. Some of the confirmation I look for:
1=candle emotion (nice maribozu)
2=DeMark TL break (clear break formed)


Candle closes in 10 minutes.
Attached Image (click to enlarge)
Click to Enlarge Name: uj 4hr.gif Size: 24 KB
  • #212
  • Edited 5:20am Apr 1, 2008 4:59am | Edited 5:20am
Long UJ @100.32. Looking for 60-70 pips @101.01 and higher,but willing to lock in 20 pips, even breakeven will be alright.Sticking to 1 lot with forex from now on.
SL=99.51. R:R ratio is nearly 1:1.


Currently up +26 pips, locking in 20.
  • #213
  • Apr 1, 2008 5:26am Apr 1, 2008 5:26am
Trade closed already, but fell through stop of +20 pips and I wound up with +16 pips.
Had I been in with 2 lots I would've taken one at 20 and let the other one run with a stop at breakeven, but I've adopted a safety first attitude toward trading, so with one stop, I'll lock in profit and chance my arm with a "free ride".
Attached File(s)
File Type: doc Doc1.doc   157 KB | 269 downloads
  • #214
  • Apr 1, 2008 10:30am Apr 1, 2008 10:30am
Disappointing trade. Should've managed it better. Left plenty on the table.
  • #215
  • Apr 2, 2008 4:54am Apr 2, 2008 4:54am
Silver 1hr chart. Candle closing in 6 minutes. Classic 1-2-3 swing trade forming.Bullish engulfment serves as confirmation.
Any close above 17096 (previous high point) will see me go long.If it closes below this it will negate the long signal.
Attached Image (click to enlarge)
Click to Enlarge Name: silver 1hr.gif Size: 21 KB
  • #216
  • Edited 5:04am Apr 2, 2008 4:58am | Edited 5:04am
Have to be very watchful of ADP news in 2hrs 30 minutes.
Targeting 90 pips at Fib Expansion 50.0= 17193
  • #217
  • Edited 7:55am Apr 2, 2008 7:44am | Edited 7:55am
Stop Loss hit for loss of -187 pips.At one stage it was up 56 pips.Had I locked in profit every 40 like I normally do, could've been another story.
After a good finish to last month, down 203 pips thus far for April.
  • #218
  • Apr 2, 2008 10:34am Apr 2, 2008 10:34am
Quoting Doji Star
Stop Loss hit for loss of -187 pips.At one stage it was up 56 pips.Had I locked in profit every 40 like I normally do, could've been another story.
After a good finish to last month, down 203 pips thus far for April.
discipline is important
you are doing well on your trading,
some mistakes are acceptable
Success is the small sum of efforts, repeated day in and day out.
  • #219
  • Apr 2, 2008 11:21am Apr 2, 2008 11:21am
Quoting dhalsim
discipline is important
you are doing well on your trading,
some mistakes are acceptable
You're right dhalsim.
Thanks for the encouragement.
  • #220
  • Apr 2, 2008 12:53pm Apr 2, 2008 12:53pm
Quoting Doji Star
Have to be very watchful of ADP news in 2hrs 30 minutes.
Targeting 90 pips at Fib Expansion 50.0= 17193

Looks like I had the right idea, went the right way, but my stop loss was 200 pips short!!
That tail that took me out, was 192 pips long!!
Volatile times indeed!
Attached Image (click to enlarge)
Click to Enlarge Name: silver 1hr.gif Size: 26 KB
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