Market Geometry Blog

Foundations of Trading Part 5: Self Management and Journals

Each trader will have there own brand of crazy that is unique to them.... You are the one that is responsible for creating this, all i can do help you structure it. A trading jouranal is a great tool for this cause self-mangment will involve observation, discplines, and evaluation. In the prior post "Foundations of Trading Part 4: Trade Planning"  We disscused trade planning and documenting your trades. This is part of what goes into the journal and falls under the observation section.

 

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What Is a Median Line?

A Median Line is the relationship between 3 alternating points. In order to make our tools more functional we need have a thorough understanding of them. This is a short presentation i did for myself years ago. It should help you get a deeper understanding of price movement and Median Line sets so we can then use our tools and not let them use us.  Follow the movment not the line...

 

Shane

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Trading Notes: Median Line Hand-off EUR/USD

Some more raw trading notes. You can see some of my live thought proccess as Condtions Set-Up for a 3:1 risk/reward trade. This is a change in behavior trade. Price is following a steady path of lower lows and lower highs that is captured by the blue down sloping Modified Schiff Median Line. Price then crosses the upper blue MLH and pulls back to it handing-off to the up slopping grey Median Line. 

Sounds more complicated than it is. Its basically following one of Alan Andrews basic rules of zooming then re-testing a line. 

Shane

 

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Understanding What a Median Line Set-Up Is: USD/JPY

How to view set-ups in a more functional way. What is a setup? A set-up is "a set of conditions that come together in such a way as to allow you to realize your objective". There are many set-ups but keep in mind that the set-up always serves the objective, not the other way around. 

The first thing we tend to do when leaning a set-up is to freeze it, name it, turn it into something mechanical and dead. This wont work constantly, there are too many moving parts. 

Here is a Median Line setup that i use (not letting it use me). This or any other set-up wont do you much good without an understanding of price flow, conditions and what a set-up is.

Shane

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Trading Notes: EUR/USD

This is a recording of my live analysis and trade planing (my personal Trading Notes) in the EUR/USD.  I will post these from time to time so you can see what some of the teaching looks like live and messy. This entry never gets filled and leaves me hanging but there is a lot to learn about how to investigate, structure a market, and plan for a trade. Not all trades look like this, its just one example of many that have an overall objective of 3:1 risk reward or better. 

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Excursion Lines: Weekly EUR/USD

An update to the weekly EUR/USD chart and some practice with a very simple line technique thats easy to learn. These excursion lines are a subset of Median Lines. With some practice, they can teach you much about market structure, price flow, and Median Lines

Shane

 

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