How to be a MOnster

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v8power
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Re: How to be a MOnster

Postby v8power » Fri Aug 11, 2017 8:44 pm

v8power wrote:Yellow lines are my "something line". Purple is the up trend line. Black box is area were horz lines intersect angles. Red lines were drawn at 15 and I cut through a hook the placed its opposite nwhich offered confluene with the black box.

Price is currently at a support and trend line. Good chance it will bounce up, find resistance and then sell off again.


look how my "story" of price was dead on. Bounced up, sold off and went right to the confluence of the box and angles. This also shows how I use angles. Super simple like everything else I do.
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Re: How to be a MOnster

Postby v8power » Fri Aug 11, 2017 9:22 pm

v8power wrote:Last one. I have posted around a half dozen HTF charts and how to trade them (AND IN ADVANCE SO NO CHERRY PICKING). Its the same over and over.

gbpusd-d1-fx-choice-limited.png


Took a loss on the first attempt. Price then retraced some more (right into a doji box and support). Dropped down the the 1hr and found a doji box to get my entry @ .2960 sl @ .2930. TP is off the weekly zline at .3260. 300 pips from a 30 pip sl :mrgreen: .

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v8power
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Re: How to be a MOnster

Postby v8power » Fri Aug 11, 2017 9:45 pm

v8power wrote:A live in the moment, called ahead of time yearly extreme trade using a lower timeframe. See. Its is possible. It is easy. It might win. It might lose. But if you enter the trade as a scalp and want to hold for more then 20 pips, now is the time cua your sl should be above a HTF something.


It was a loser!!! But guess what. Look how the story of price on the daily actually worked perfectly, it just hadn't found the top yet. The updated daily chart all the lines are the same, just moved over to compensate for the time movement. The only added line was the thick purple line. But look how made a perfect 123 at the top, dropped a little, then price consolidated (formed a triangle) broke down, then bounced up and retested Support which became resistance and then sold off again.

15m timeframe for entry. 20 pip sl, over 400 pip potential gain. 20 to 1 RR.

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Re: How to be a MOnster

Postby v8power » Fri Aug 11, 2017 10:10 pm

So lets recap. GA, UJ, EA were perfect winners. GU and AJ we had the correct analysis but were early and took 1 loss each. I had also mentioned EG which will call a hard loser (wrong analysis) and GJ which is still in profit. So out of 7 pairs only 1 real loss, 2 losses that were recovered and 3 straight up wins. All of the trades offered at least 300 pips to win. Massive gains even just trading sl/tp style. Now you do it with stacking and the gains are sick and unreal.

Oh here is a oil one. 3 possible entries already with the potential to hit 53-55. I don't trade oil (CFD or futures) so I don't know how the works out $$$ wise, but im sure its a nice gain.
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MightyOne
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Re: How to be a MOnster

Postby MightyOne » Sat Aug 12, 2017 12:09 am

Mira wrote:...

Mmmm. What can I do? :?:


Let's look at a basic exit-playbook that a scalper might use:
(any scalpers out there are free to comment)

Stop-limit: -8 stop, -10 limit:
1) exit 2 units at +2.5: (2/5)2.5 for +1
2a) exit 1 unit at +5.0: (1/5)5.0 for +1
2b) set a stop loss at -5 (aka 'stop profit order')
3) exit 2 units at +20.0: (2/5)20 for +8
______________________________________
total: 10+ pips.

Your risk will usually be 6 pips or less.

When you are up 20+ pips on 5 units then you are done for the day.

Using a stop loss as a tool to take profit is something that a fool would do:
use a stop loss to 'stop loss' and a take profit to take profit.

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Mira
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Re: How to be a MOnster

Postby Mira » Sat Aug 12, 2017 11:34 am

v8power wrote:
v8power wrote:Last one. I have posted around a half dozen HTF charts and how to trade them (AND IN ADVANCE SO NO CHERRY PICKING). Its the same over and over.

gbpusd-d1-fx-choice-limited.png


Took a loss on the first attempt. Price then retraced some more (right into a doji box and support). Dropped down the the 1hr and found a doji box to get my entry @ .2960 sl @ .2930. TP is off the weekly zline at .3260. 300 pips from a 30 pip sl :mrgreen: .

gbpusd-d1-fx-choice-limited.pnggbpusd-h1-fx-choice-limited.pnggbpusd-w1-fx-choice-limited.png


Nice reversal :shock:
How have you decided for that target?
I'd have been out after 30 pips in profit :lol:

Thanks!

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Mira
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Re: How to be a MOnster

Postby Mira » Sat Aug 12, 2017 12:02 pm

MightyOne wrote:
Mira wrote:...

Mmmm. What can I do? :?:


Let's look at a basic exit-playbook that a scalper might use:
(any scalpers out there are free to comment)

Stop-limit: -8 stop, -10 limit:
1) exit 2 units at +2.5: (2/5)2.5 for +1
2a) exit 1 unit at +5.0: (1/5)5.0 for +1
2b) set a stop loss at -5 (aka 'stop profit order')
3) exit 2 units at +20.0: (2/5)20 for +8
______________________________________
total: 10+ pips.

Your risk will usually be 6 pips or less.

When you are up 20+ pips on 5 units then you are done for the day.

Using a stop loss as a tool to take profit is something that a fool would do:
use a stop loss to 'stop loss' and a take profit to take profit.


Thanks MO!

I think I'm never going to be a scalper :lol:
Spreads are too high and I don't know if I can take clear decisions so quickly for now.

If you are telling me that I don't need to make so many pips (and/or not in a single ride) then I think I'm understanding right.. but if my risk is 2 lines and my tp is <=2 lines, i.e., I'd have to be right most of the times.
May I have to cut losses before price reaches my stop loss?
Or do I need to take better trades?

I need to think about it :?

Thanks for your help!

v8power
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Re: How to be a MOnster

Postby v8power » Sat Aug 12, 2017 3:29 pm

Mira wrote:
v8power wrote:
v8power wrote:Last one. I have posted around a half dozen HTF charts and how to trade them (AND IN ADVANCE SO NO CHERRY PICKING). Its the same over and over.

gbpusd-d1-fx-choice-limited.png


Took a loss on the first attempt. Price then retraced some more (right into a doji box and support). Dropped down the the 1hr and found a doji box to get my entry @ .2960 sl @ .2930. TP is off the weekly zline at .3260. 300 pips from a 30 pip sl :mrgreen: .

gbpusd-d1-fx-choice-limited.pnggbpusd-h1-fx-choice-limited.pnggbpusd-w1-fx-choice-limited.png


Nice reversal :shock:
How have you decided for that target?
I'd have been out after 30 pips in profit :lol:

Thanks!


A few things went into that decision. 1 since my SL was at/under an extreme (giving me a chance to hold for more then 30) and the zline of the weekly bar gave me a real target to aim for.

v8power
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Re: How to be a MOnster

Postby v8power » Sat Aug 12, 2017 4:03 pm

You ready to start are little challenge together on Monday? I'll be trading GU and EJ during US open looking at 15m and 1hr charts only. How about you.

v8power
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Re: How to be a MOnster

Postby v8power » Sat Aug 12, 2017 4:48 pm

This quote by MO should be the cornerstone for deciding onto whether you hold for 20-30 pips or 300 pips.

"The decision to hold is based on longer term charts, not the 5 minute.

Remember that you need position at a longer term extreme if you are to hold for longer periods of time."

This one idea can take your gains to a whole new world.

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