How to be a MOnster

[Mira]

What makes MO great, and what I love more, is his ability to see things differently.

That is a real talent.

[Mira]

I want to post this loss that I took today because I need to learn from my mistakes. It’s not a full loss.. but I closed when price came back to the pattern.

I was targeting the magenta line (a bit low, I know) but price stopped before and i haven’t took profits

So: it was good but I played it bad

551C091B-53B2-426F-95C6-42287E364ED0.png (71.19 KiB) Viewed 3684 times

[Mira]

MIra how many candles has to close below in order to know if price does not go up?. Sometime I see price close below, price break the pattern I wait, after price return to pattern I enter and price go ahead and stopped me.

I tryed with extremes like images above but I dont see it. I don´t understand if it is easy for me it is difficult. LOL

I decided use EIGHTs for my MM (understand so good the concept). Charts is the piece that left in order to complete the puzzle.

Just Trade It.

Elkin I’m quoting you here to not fill all the MO’s thread.

However.. I showed you my view, nothing new.. it’s the same of a Fat Cat or an ‘expanded’ Doji Zone.

I am at the beginnings but I started to see something when I decided to “build” my “own” strategy based on what I’m learning here on KR.
I don’t mean that what I think is right.. i.e. my definition of extreme, now, is a close over the previous extreme.
That is obvious, I know this!

I think of it like this: I’m trying to catch an entry the nearest to the actual HH/LL so my stop will be there, at the extreme.
Then i want to see a possibility for price to drop/raise (Momentum/RAT/FC/1-2-3 etc) and the first target. STOP.

[MightyOne]

I want to post this loss that I took today because I need to learn from my mistakes. It’s not a full loss.. but I closed when price came back to the pattern.

I was targeting the magenta line (a bit low, I know) but price stopped before and i haven’t took profits

So: it was good but I played it bad

Seeing your money spread out over the chart makes all the difference.

In the attached picture we can see that H1 position sizing would have bars sprawled out over 4 lines so H4 position sizing would be the better choice as time to consider and respond to new information is the name of the game.

If each line is 40% of the ATR and we assume that price will move 20% of the ATR to our trigger then that means that we can expect to make 2 or 3 lines; If we want larger moves then we have to look at larger charts.

EURUSDH1.png (44.21 KiB) Viewed 3608 times

[Mira]

If each line is 40% of the ATR and we assume that price will move 20% of the ATR to our trigger then that means that we can expect to make 2 or 3 lines;

Mmm.. i'm not understanding this part, sorry.

H1 lines are calculated with the hourly ATR, what about H4 + charts?

Thanks MO!

[salezyakuku]

If each line is 40% of the ATR and we assume that price will move 20% of the ATR to our trigger then that means that we can expect to make 2 or 3 lines;

Mmm.. i'm not understanding this part, sorry.

H1 lines are calculated with the hourly ATR, what about H4 + charts?

Thanks MO!

15 H1 ATR * 0,4 = 6 pips H1 line
H4 = 2 * H1 = 12

[MightyOne]

If each line is 40% of the ATR and we assume that price will move 20% of the ATR to our trigger then that means that we can expect to make 2 or 3 lines;

Mmm.. i'm not understanding this part, sorry.

H1 lines are calculated with the hourly ATR, what about H4 + charts?

Thanks MO!

The lines of every chart are calculated based on H1 ATR.

Whatever you would do on a smaller chart is what you would do on a larger chart.

PS: thanks Salezy, just saw your post.

[Mira]

Hi guys, have a nice week

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 (67.23 KiB) Viewed 3494 times

[MightyOne]

Hi guys, have a nice week

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 (50.18 KiB) Viewed 3468 times

[Mira]

[
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).

What does it mean "The M30 makes 2 or 3 lines"?

Thank you much MO, this post helps a lot