How to be a MOnster

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Mira
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Re: How to be a MOnster

Postby Mira » Mon Oct 09, 2017 3:02 pm

Just realized that MO is a genius :shock:

Ok it's not a news :D but if I’m not misunderstanding then the average move of a pair is two lines on all the timeframes (per timeframe).

Therefore:

If I trade off a MN extreme and I start from a H1 chart then I could make an average of 32 lines with a risk of 2 :twisted:
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Re: How to be a MOnster

Postby elkin.fernandez » Mon Oct 09, 2017 7:57 pm

Mira, explain it sooo slowly please. LOL.

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Mira
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Re: How to be a MOnster

Postby Mira » Tue Oct 10, 2017 11:49 am

elkin.fernandez wrote:Mira, explain it sooo slowly please. LOL.

JustTradeIt (JTI)



:lol:

It’s simple, it’s just me that many times I'm slow.

Our average minimum target is 2 lines, right?
So if we are trading a H1 or H4 or MN chart then the target is the same: 2 lines, right?

Ok.. let’s say that price is trading at the lowest price for this month and we are seeing a bullish pattern on H1.
What would you do? I’d try it, my stop would be below the lowest low and I’d be long.
I would be trading off a H1, H4, D1, W1 and MN extreme at the same time... are you getting it?


Ps. Elkin, you can add “JTI” at your signature if you like it

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Re: How to be a MOnster

Postby elkin.fernandez » Tue Oct 10, 2017 12:28 pm

Thanks Mira- Later I read slowwly. LOL
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Re: How to be a MOnster

Postby Mira » Tue Oct 10, 2017 6:01 pm

I made a mistake here, so I took a loss #-o
The zone was a H4, I waited for a close back to the zone and then I adjusted my entry on a 30M chart.
I went long when I saw that BDP.

The trade wasn’t convincing me since the beginning, but I wanted to stay in and..

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Re: How to be a MOnster

Postby Mira » Tue Oct 10, 2017 10:03 pm

I added the TL after the short positions, still trading H-lines.
Let’s see.

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Re: How to be a MOnster

Postby MightyOne » Wed Oct 11, 2017 1:02 am

You think that everything is easy until you have to explain it to someone else #-o

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Re: How to be a MOnster

Postby MightyOne » Wed Oct 11, 2017 1:15 am

"Where did she come from and where did she go?"

Not just any old close but where a price move originated and where it went.

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Re: How to be a MOnster

Postby thepark » Wed Oct 11, 2017 2:00 am

MightyOne wrote:
Mira wrote:Hi guys, have a nice week :D

I have a question for you:

was there something in this chart telling you that a long was more valuable than a short? :?
This just to see other’s perceptions, thanks

3E2A7C29-3A23-43C6-8CCB-10C5D5534A9C.png


Don't try to predict what will happen next, simply aim to consistently apply your ideas.

Have a basic understanding of patterns and breakouts (where did she come from & where did she go?)
Pick an H4 close, adjust it to a better price with a 30 minute close, risk lines, & make lines.

One chart sized to the monthly is slow gains, but what about 8 monthly charts? If your average gain is 2 line then that is +16 lines:
if your average line value was $45 then that would have brought in an extra $720 without having to look at your charts every day.

The M30 makes 2 or 3 lines, the H4 makes 2 or 3 lines, and then you risk 1 line holding a daily+ (if it makes sense to do so based on a daily+ chart).

Do you see how it all works? No predicting, just throwing money around.


riskLINES_makeLINES.png


hi MO

For this markup. what is the significance of the M30 close overs?

I would just long on the bottom of the H4 break ins, with the second long around the red horizontal line. And possibly a short on one of the most recent wicks in your chart. Can you provide some feedback? thanks.

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Re: How to be a MOnster

Postby MightyOne » Wed Oct 11, 2017 4:07 am

thepark wrote:
hi MO

For this markup. what is the significance of the M30 close overs?

I would just long on the bottom of the H4 break ins, with the second long around the red horizontal line. And possibly a short on one of the most recent wicks in your chart. Can you provide some feedback? thanks.

https://www.kreslik.com/forums/therumpledone/how-to-be-a-monster-t16383/page1030


I use M30 because it is 1/8 of 240 minutes (M20 and 180 minutes is my second choice).

Large chart price levels are just a starting point, like saying "I know that I don't want to pay any more than $1170/oz"
Maybe there is a strong weekly close lower and you adjust it down to $1111/oz.
From there the daily closes lower at $1065 and the M30 forms a price level at $1055

You enter at M30 position sizing and reduce your position size when price hits $1065, $1111, and $1170/oz, and then
hold MN size for whatever the MN chart will give you.
If you have more time then you can spend weeks or months building a position size so that your profit per line is significant
even after taking profit 3 times.

How you size and risk your lines is completely up to you.

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