[Before entering, write your current location in one line] Procedure to reduce orders without a map
After leaping onto an energetic leg, when I switched the screen there was a wall right above. Aren’t you making that kind of order this week as well? How can you notice it before you enter?
At the moment you enter, it should have looked like a good setup.
Yet when you view it later, you’re in a place you wonder, “Why did I buy here?”
Good evening!
This is Masashi^^
This time, I’ll talk about writing the current location in one line before you place an order.
It’s the same idea as pinning your current location before entering a destination into a car navigation system.
An order that cannot be described in one line for the current location might be an order started without a map.
? I thought I was riding the momentum, but I was right under a wall
I used to enter often by only looking at the lower-timeframe candles.
A big bullish candle appears, and I think it will rise, so I buy.
But after entering and switching to a higher timeframe, I’m just in front of walls that have stopped me many times.
The price is pushed back there, and the stop I had set comes back to me.
The stop loss itself is a cost expected from where you placed it.
What snagged me was that I never looked at the higher timeframe before entering (;'∀')
? The shape found on the lower timeframe was entered without confirming where it is on the higher timeframe.
? Map apps also can’t guide you if the current location is offset
When you check directions with a map app, if the pin for your current location is offset, no amount of precise guidance helps.
The route to the destination may be correct, but the starting point is different.
Trading is somewhat similar.
No matter how neat the entry setup is, if you misjudge your current location, all subsequent judgments will be off.
That’s why before entering, I want to confirm the starting point with my own words.
Before the entry, confirm the starting point.
? Why do we only use the lower timeframe to decide the current location?
The reason is that the lower timeframe moves faster and shows more information.
Since the candles keep updating, if you only look at that part, you feel like you’re watching the whole market.
On the other hand, the higher timeframe moves slowly.
Since it seems there’s no big change when you switch, you tend to skip checking it.
But because the movement is slower, the walls on the higher timeframe don’t move easily.
No matter how much momentum you get on the lower timeframe, you’re not uncommon to stop just before that wall.
✅ How to use the current location in one line
What you do is write one line in a note before you open the order screen.
It’s like “just under the upper wall / rising sharply from the bottom.”
If you find a shape of interest on the lower timeframe, go to the higher timeframe once, then return to the lower timeframe.
Do this back-and-forth before you write.
What you write consists of only two things.
・ From the higher timeframe, whether you are closer to the upper wall or the lower wall
・From which side the price is approaching
Example: 【Just above the lower wall / coming down from above】
Once you’ve written one line, compare it with the direction you’re about to enter.
If you’re about to buy just below the wall, you’re placing an order that runs toward the wall!
If you couldn’t write it, it means the back-and-forth is not enough.
? What to look at: where the nearest wall is
When writing one line, don’t try to measure every small price range.
What you should look at is only whether the nearest wall is on the side you want to go, or on the backside.
If the wall is immediately on the side you want to advance, there may be little room for expansion.
If there’s a wall behind you, at least you’re starting from a place with backing.
Huh? Then you might wonder whether you can enter on every occasion when there’s a wall behind you.
That’s not it; this one line is only to find orders that you shouldn’t enter.
Whether to enter is decided separately by whether your rule pattern appears.
One line is not a permit to enter, but a net to find orders that won’t be entered.
⚠ Even if one line is written, there are days not to enter
I’ve talked about current location up to here, but I’ll note the opposite scenario as well.
Just because you can write one line neatly does not mean you must enter that day.
For example, there are days when the space between walls is very tight and whichever way you move, you’ll be stopped soon.
Your current location is clear, but there’s little path you can actually walk.
On such days, after checking the map, you choose not to depart.
Even the days you pass on, you leave one line in your memo.
Just writing 【the space between walls is tight / today I won’t depart】 helps you see your tendency later.
? What GOLD medicine can organize, and what remains in you
GOLD medicine includes, in GOLD, how you view your current location and how long you wait,
and where you stop, written in my order of steps.
It should form the foundation for deciding what to rely on when writing the one line for your current location.
However, the materials won’t place a pin on your chart for you.
Whether you go back and forth to write a line, or you skip entering on a day you can’t write, it’s you in front of the screen.
I’ll note in advance that you cannot rely on the material to make the judgment itself.
If you only want to know where to buy to make it rise, this may not be suitable for you.
If you want to structure your verification method in your own words before entering, this should suit you.
? Summary: before orders, make the starting point one line
If you only enter on the lower timeframe, you may end up buying right under the wall of the higher timeframe.
Before opening the order screen, go back and forth, and write your current location in one line.
A brief line like 【near the upper wall / came from below】 is enough.
Write only two things: which wall you’re closer to, and where you came from.
If you can’t write, pass; if you can write but the path is narrow, pass, and that’s fine.
Whether you polish this one line yourself or organize your location with GOLD medicine depends on what suits you best.
When you next feel like entering, just write one memo line before the order.
That alone should gradually reduce orders you later question ^^
Thank you always for reading ^^