How to be a MOnster

[Mira]

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.

for_thepark.png

Thanks for this post MO!
I got it, I know I got it but I’m still making some mistake..
Maybe I need to “filter” my entries and trade off 3 semas or D1+ extremes..

"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.

Now I’m taking the closing prices of the wickdolls, is this what you mean with that post?

Thank you much!

[MightyOne]

"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.

Now I’m taking the closing prices of the wickdolls, is this what you mean with that post?

Thank you much!

No, I literally mean what I have said: price goes 'somewhere', you draw a large chart price level, and then you adjust the price level with a smaller chart.

Price will either slow down and try to pull away from a price level (I'll draw angled platforms or red circles to indicate this) or it will speed up and race to a price level: the first gets people to reverse too early and the second encourages people to enter too late.

The idea of BDP WDL is important, but EIGHTS is a different mindset than that of the past.

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[Mira]

"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.

Now I’m taking the closing prices of the wickdolls, is this what you mean with that post?

Thank you much!

No, I literally mean what I have said: price goes 'somewhere', you draw a large chart price level, and then you adjust the price level with a smaller chart.

Price will either slow down and try to pull away from a price level (I'll draw angled platforms or red circles to indicate this) or it will speed up and race to a price level: the first gets people to reverse too early and the second encourages people to enter too late.

The idea of BDP WDL is important, but EIGHTS is a different mindset than that of the past.

for_Mira.png

Ok, got it! Thanks
When i try to merge too many ideas i end up with a loss
One more thing that i noticed is that in most of my losers i'm trading away from midpoints instead of H/L areas.. i need to improve this part.

Took a winner now!

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[Mira]

This is how I’m seeing it.. obviously price doesn’t follow a normal distribution every x time.
I think that the challenge is to build our OWN normal distribution, but how?

The current high on H1 could be a midpoint or a low on H4 or D1.

MO, before choosing a (i.e) H4 price level and adjusting it on a 30M chart, do you ever watch where you are in the big picture? Thank you!

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[elkin.fernandez]

Just realized that MO is a genius

Ok it's not a news 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

Is that easy?.

I have tried to find Monthly Level Price after Daily, 4H and 30M. I noticed that is not easy hehe. Maybe after facts, yeah. But during facts is the problem.

[elkin.fernandez]

I have some question MO:





I only hope MO answer my doubts hehehe.

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

That means: ¿A close of a MOMO zeroed?

[thepark]

"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.

Now I’m taking the closing prices of the wickdolls, is this what you mean with that post?

Thank you much!

No, I literally mean what I have said: price goes 'somewhere', you draw a large chart price level, and then you adjust the price level with a smaller chart.

Price will either slow down and try to pull away from a price level (I'll draw angled platforms or red circles to indicate this) or it will speed up and race to a price level: the first gets people to reverse too early and the second encourages people to enter too late.

The idea of BDP WDL is important, but EIGHTS is a different mindset than that of the past.

for_Mira.png

so are we essentially trading the H4 extremes (bottoms and tops) and looking for direction on M30 away from those price levels?

This is how I am trading now and please critique it.

I basically use D1 as a guide to where the overall market is going and everything starts with a D1 momo. Once there is a D1 momo, price can only do four things (say it is an up momo):

1. Do a pattern up (slow move up)
2. Continue to break out (fast move up)
3. Do a pattern down (slow move down)
4. "break" down (fast move down)

After the D1 momo is closed, i look for which option is happening and since its difficult to find a place to enter on fast moves (option 2 and 4) I only enter if there is a pattern that develops after a D1 momo on H1 and then on H4 if its already been several days since the D1 momo has closed and there is still no breakout.

From what MO taught PA is either patterns or breakout that means following a D1 momo if it does not immediately do a fast move up and fast move down, if I enter on a pattern in the direction of the higher high (enter at the higher low) or lower low (enter at the lower high) there is a good chance I am also entering the trade that will eventually lead to a breakout.

If price moves back to the bottom of the D1 momo, again I wait for a pattern and enter around where the D1 momo first broke out.

My major challenge is waiting for patterns and identifying them as they are not all textbook perfect. Also I get maybe 4 or 5 trades a week (1 this week)

Do I need to simplify what I am doing here? it seems like your trading is a lot simpler. I tried just scalping M30 angled congestion this week but its hard to pinpoint the entry when you are risking 2 lines for 2 lines.

[elkin.fernandez]

[elkin.fernandez]

[elkin.fernandez]

MO, Mira