How to be a MOnster

[Libertarian]

Well, I'm finally caught up on Miras great thread. I'm a little bit scared about whats going to happen from here

Thanks all.

On to the next...

[MightyOne]

Well, I'm finally caught up on Miras great thread. I'm a little bit scared about whats going to happen from here

Thanks all.

On to the next...

It is a lot easier than it used to be:

What is it exactly that scares you?

fractal_repeat.png (29.86 KiB) Viewed 3150 times

[Jalarupa]

Well, I'm finally caught up on Miras great thread. I'm a little bit scared about whats going to happen from here

Thanks all.

On to the next...

It is a lot easier than it used to be:

What is it exactly that scares you?



fractal_repeat.png

[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

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

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.

Thanks MO!
It makes sense.. in other words, with EIGHTS, we consider as a loss the total loss of the risk box and as a win the reach of the target.

[Leoheart]

Well, I'm finally caught up on Miras great thread. I'm a little bit scared about whats going to happen from here

Thanks all.

On to the next...

It is a lot easier than it used to be:

What is it exactly that scares you?



fractal_repeat.png

[Leoheart]

Alright folks, Done with charts for this week. Happy holidays for all who celebrate thanks giving . Every day should be thanks giving for better or worse.

[Libertarian]

Whats so HAGO about this Mira? Can you remind me what this looks like?

In these days I’m not trading so actively because I'm ill... AGAIN
My health sucks, really.

BTW I’m in love with failures on the break of the previous D1 H/L.
Could it be an ‘alternative’ to a big candle close?

It’s interesting, however.

You are describing the exact same thing...
waiting for a D1 (big candle) close and then looking to take a trade at or above that price (HOLO, etc).

for_Mira.png

I don’t eat vegetables, no one
but I think that it is definitively a horrible mistake, I need to start eating better NOW.

btw.. yep, HAGO is lol

THANKS MO!

8B527486-C092-4F5F-95D4-F5D1B3A72169.png

[Mira]

Whats so HAGO about this Mira? Can you remind me what this looks like?

You are describing the exact same thing...
waiting for a D1 (big candle) close and then looking to take a trade at or above that price (HOLO, etc).

for_Mira.png

I don’t eat vegetables, no one
but I think that it is definitively a horrible mistake, I need to start eating better NOW.

btw.. yep, HAGO is lol

THANKS MO!

8B527486-C092-4F5F-95D4-F5D1B3A72169.png

it’s from MO and I can’t remember exactly what it is.. I refer to 25% and 75% RET as HAGO and i could be totally wrong

D0909FE3-C130-4CF8-A6C7-F4476EC308F8.png (63.3 KiB) Viewed 3242 times

[elkin.fernandez]

MIghty one question:

It is better do trades 1:1 stacking? I like stack but my problem is that I want to hold my position LOL.

So, sometime i say myself close partially at 1:1, it could be 50% of the position. But in this case I just would have a 1:0,5 trade. If I hold til 1:2 and close 50% I would have a trade 1:1 or 2 lines

It´s good to risk 2 lines and only earn 1? That´s would be good if I had some loss in a row?.

Today I have a trade 3 lines, I had to close and I did not do it. . At last, I was stopped. Losing 2 lines,

[Mira]

Yesterday I spent all the day thinking about a way to trade considering that I haven’t so much time atm.

Conclusion: I’m going to follow MO’s suggestion about taking a H4 close or High/Low + adjusted level; I haven’t a better solution.

2 lines everyday: I wanna do it, I can do it