How to be a MOnster

[MightyOne]

My trading still sucks..

It's not about finding zones, that part is easy.
I can use the MO style, Doji Style, FAT CAT, NLA style and some of my new ideas to find a zone..

For the 80/90% of the time all the zones are there when a signal occurs, but if you (me) can't trade them then you can't trade them.

There are many ways to manage your money, but if you learn this basic template then you shouldn't have any problem creating your own:

Each line is worth about .125% of your highest account balance & you start off with 12 lines for a total risk of 1.5%

What is important here is:
1) you have a goodly number of lines so you are not thinking about risking it all on one trade
2) you are not risking all of your lines in any one period (M1 through H1 are the same)
3) you know the sum total of your risk: you are not going to keep losing 1.5% per trade and end the day with an insane loss (eg -6%)
4) you increase the value of the lines when you have more than 12 lines
5) use up the sum total of your risk-box

I personally have no hope of succeeding without position sizing, money management, and some plan that pulls it all together...
maybe because my technical analysis is lacking, I don't know.

[Mira]

My trading still sucks..

It's not about finding zones, that part is easy.
I can use the MO style, Doji Style, FAT CAT, NLA style and some of my new ideas to find a zone..

For the 80/90% of the time all the zones are there when a signal occurs, but if you (me) can't trade them then you can't trade them.

There are many ways to manage your money, but if you learn this basic template then you shouldn't have any problem creating your own:

Each line is worth about .125% of your highest account balance & you start off with 12 lines for a total risk of 1.5%

What is important here is:
1) you have a goodly number of lines so you are not thinking about risking it all on one trade
2) you are not risking all of your lines in any one period (M1 through H1 are the same)
3) you know the sum total of your risk: you are not going to keep losing 1.5% per trade and end the day with an insane loss (eg -6%)
4) you increase the value of the lines when you have more than 12 lines
5) use up the sum total of your risk-box

I personally have no hope of succeeding without position sizing, money management, and some plan that pulls it all together...
maybe because my technical analysis is lacking, I don't know.

Thank you MO

This time I really need to listen to your words and to do what you are suggesting me.
Position sizing, money management and some plan that pulls it all together.
New traders like me keep focusing on entries, entries, ENTRIES!!
I keep my eyes open on years of prices to backtest entries, looking for some Holy Grail bouncing out of the screen telling me "Hey, i have always been here".
All day, everyday looking at the same prices and nothing happens.

I look at the zones (of any kind) and sometimes taking a pullback after a breakout is enough, sometimes a breakout and break in is needed, sometimes other things..
What is the Truth? I think that the Truth is in the trader's eyes.
I see a zone, I lose.
You see the same zone, you win.
You SEE what price is DOING, I don't see anything.

Anyway.. thank you MightyOne, I need to think more about your words.

[Mira]

Today I took a fast short on GOLD, price went down to the target without many problems.

IMG_0734.PNG (68.4 KiB) Viewed 2690 times

But WHY?
My line was this H4 close, why price was resisted here?
I took the trade because price wasn't closing above that line on a lower timeframe, have i been lucky?

IMG_0735.PNG (61.03 KiB) Viewed 2690 times

[Brzoza]

2017-06-24_0231.pngsee pic with notes.

doji

Hi Doji,
What do you think aboit these lines? Is it well?

Screenshot_2017-06-28-10-20-54.png (113.66 KiB) Viewed 2893 times

[Mira]

PS. Hi Jala, happy to see you back

Thank you Mira,

I have a lot of catching up to do... I made the "mistake" of buying a DJI Mavic Pro and have been spending any and all spare time I have flying and filming and then relearning Adobe Premier, Photoshop, Lightroom and After Effects...

It has been a very enjoyable time but with the Northern Hemisphere summer in full swing I'll start reading more and learning more from all the talent on this forum.

Happy to be back!

Loving your work! I've started with your thread and I must say I'm very happy to see you doing so well!

No substitute for hard work!

Best, Jala

Hi Jala

How are you?

I know that you are a master with angles, but I'm a your fan and I've been on all your posts here on kreslik!
You fully grasped MO's words and I'm trying to do the same..

Can I ask you how do you trade H Lines?
What do you see? I feel that I'm close to find my way but I still am not there.

Thank you much

[Mira]

The biggest revelation for me was the Sidewards Z formation of the BREAKOUT / BREAKIN



The one above while being super messy... is exactly how I see it thanks to MO's tireless coaching and chart porn...

THE Z is EVERYWHERE!!!!

Use it to cut little or BIG pieces out of the market and take money at WILL!

Greatest Gift I have received!

"Use it to cut little or BIG pieces out of the market.."

Mmm.. is this the same of looking at patterns and BOs in a horizontal way?
It's obvious that price is moving to and from those lines, and price can't stay in the middle.. it will travel to an upper or lower line.

I just need to understand the direction

Areas.png (17.14 KiB) Viewed 2844 times

[MightyOne]

Price does the same things on every chart, period, pair, stock, future, ...

"why did price reverse, why didn't it fall to the lower pattern?"

50%, 'Middles', 'early' profit taking, I am sure that you can see it.

Price does the same things on every chart.

You can take 20 pips of profit from the monthly zone but it still has to fill its minimum range one way or the other, hundreds of pips.

If you think about it, it is easier than you think
You just need to say:
1) this is the size I want to accumulate
2) this is where I want to be long/short from
3) this is where I am going
4) if it doesn't work then how many lines remain?

After much labor on small charts you are going to look at a large chart and it will have gone NOWHERE You have plenty of time.
Look at the rise from the lowest price: 1, 2, 3, 4 months, and the 5th month was kind enough to return for any stragglers!

What about from the high? You had at least 2 good months of accumulation before price declined hundreds of pips.

on_every_chart.png (10.96 KiB) Viewed 2832 times

[dojirock]

2017-06-24_0231.pngsee pic with notes.

doji

Hi Doji,
What do you think aboit these lines? Is it well?
Screenshot_2017-06-28-10-20-54.png

Lines are spot on!

doji

[MightyOne]

NZDUSDH1.png (48.8 KiB) Viewed 2707 times

[Mira]

NZDUSDH1.png

Thank you for the chart MO!
I'd have a question about a pattern in the pic..


image host

It looks like price was trying to fall there.. but then it breaks out and in.
A break out and in is there at the bottom too, but I can't see it at the top. What am I missing?

Thank you much for helping!