How to be a MOnster

[Mira]

WTF attachments are wrong

[EDIT]

Now it’s right lol

[Jalarupa]

Are there any indicator that do a good job with price overlay? I used to use 'Netdania' back in the days to see negative correlation, not seeing that function anymore. Had a thought today, want to overlay highly correlated pairs Ie Gpbusd Gbpjpy and play around with the idea of treating the candles as one.[/quote]
Interesting.

Yes there is... It's called Overlay... TRO even did a mod of it...

It should be around if you Google it...

Otherwise TRO'S 2017 dashboard can also show correlation with great ease on multiple pairs using multiple indicators...

I use a lot of SUPPLY AND DEMAND (LINES/VECTOR) correlation in my trading... But mine is normally focused on YEN and USD crosses when trading exotics...

[Mira]

I mad a bad move.. I wanted to add some at the red line but I clicked 0.2 instead of 0.1 so I had to trail my stop at the 33.3% RET, and now I’m HOPING
Shame on me

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[aliassmith]

BOOOM
It worked like magic!

I took this one, it made its job too. Thanks MO

Magic seems to defy all laws until you learn the trick.

"How can ANYONE possibly make money in the markets? I mean it's pure RANDOMNESS! Coins appearing and vanishing and then reapearing out of ears and noses and ... "

It's pretty RANDOM MO, I haven't had a losing day since September. Must be a coin flip at best

I didn't look at the exact date but I don't think I had a losing trade for about a month now. Maybe I'm in the long part of the "Random Walk".

Really tho, if you understand the team you are playing against and watch the film you will find their weakness and exploit it. <<<< Football lol!

[Leoheart]

Magic seems to defy all laws until you learn the trick.

"How can ANYONE possibly make money in the markets? I mean it's pure RANDOMNESS! Coins appearing and vanishing and then reapearing out of ears and noses and ... "

It's pretty RANDOM MO, I haven't had a losing day since September. Must be a coin flip at best

I didn't look at the exact date but I don't think I had a losing trade for about a month now. Maybe I'm in the long part of the "Random Walk".

Really tho, if you understand the team you are playing against and watch the film you will find their weakness and exploit it. <<<< Football lol!

I would add to that. Also understand yourself, watch your own film & exploit for own weakness. Competition doesn't stand a chance..

[Mira]

I mad a bad move.. I wanted to add some at the red line but I clicked 0.2 instead of 0.1 so I had to trail my stop at the 33.3% RET, and now I’m HOPING
Shame on me

3A31CEE8-3669-4B38-A61B-29FF7A986115.png

Update chart.

I knew that price already reached the target but my TP was a bit lower, so when it reversed (closed against me) I closed my trade and reversed.

I covered the loss and everything went good
This is the classic “pattern” that I’m following when things are going bad, I know that it’s not sexy to post a stop&reverse and that’s why I usually prefer to post trades next to the take profit.

412C3E90-3A95-4A35-8C4C-51DA8F2A34B9.png (82.25 KiB) Viewed 3558 times

20E5F74F-4BE7-494D-A89D-93DE882963E5.png (72.97 KiB) Viewed 3558 times

[Mira]

I really need to quit my 900$/mo job and say goodbye to my ‘boss’.

2 lines at day is all I need (2 lines is the new 20 pips) so I’m going to risk 2 to make 2 (1:1).
When I try to catch a range expansion, I.e. when I target the opposite extreme, usually I take a loss or a b/e.. thus 2 lines is ok for now

My trading account is small, very small ( ), so I decided that my risk box will be (10/10)•2%
I’ll be out at b/e when I’ll see price closing against my entry but I’m still thinking what to do about reversals.

This is my trading “plan” for now

[elkin.fernandez]

I really need to quit my $200/mo online job and move to another country with a $3K/mo earning at least.

I still design my Trading Plan but I know that it will be EIGHTS and Level Prices.

[Mira]

I still design my Trading Plan but I know that it will be EIGHTS and Level Prices.

That is the same of mine
Let’s do this!

[MightyOne]

I really need to quit my 900$/mo job and say goodbye to my ‘boss’.

2 lines at day is all I need (2 lines is the new 20 pips) so I’m going to risk 2 to make 2 (1:1).
When I try to catch a range expansion, I.e. when I target the opposite extreme, usually I take a loss or a b/e.. thus 2 lines is ok for now

My trading account is small, very small ( ), so I decided that my risk box will be (10/10)•2%
I’ll be out at b/e when I’ll see price closing against my entry but I’m still thinking what to do about reversals.

This is my trading “plan” for now

Price reversing from the low and pushing on the high is the least likely scenario: if the candle is red then it is likely to retrace and then continue to expand as a red candle:
Maybe if you are looking at a daily chart and there is a larger TF 'something' and the daily range is less than small to smallish...then maybe there will be a permanent change of color.

I expect a small retracement within the monthly candle to be about 1 or 1.5 lines which is 8 or 12 H4 lines: lo and behold when I count 8 or 12 lines on the H4 that puts us in the area of the previous pattern.

Not_likely.png (82.03 KiB) Viewed 3525 times

It is only 1:1 if you are looking at it per trade...
your risk-box is '1' and if '1' is 8 lines then your first target is 0.25 to 1.

After you aborb 2 lines, your next target is (10/8).25 or .3125 to 1:
1. 0.25 to 1
2. 0.3125
3. 0.3906
4. 0.4882
5. 0.6103
6. 0.7629
7. 0.9536
------------
= 3.7681 to 1
(If you didn't stack then it would be 1.75:1)

The problem with trying to go in there and target 1.5 or 2+ to 1 in a single trade is that you are likely going to have to hold for longer than your position sizing and space will support you: you will not be sized to accommodate larger price ranges.