How to be a MOnster

[Mira]

After i took the loss i noticed that price made a pattern, then a bearish BO.. i placed my sell limit but price dropped without me
However, thank you! I need to come back to H4+ charts (AND TO WAIT FOR THEM TO CLOSE); they are more clear and give me more time to make better decisions.

[MightyOne]

libby.png (96.45 KiB) Viewed 3102 times

[Libertarian]

We're both losers Mira, right about direction, just can't capture the MOVE. I don't give a s**t that Trump is getting impeached (good riddance). Its amazing how these fundamental things always seem to line up just fine with LOSS.

Horiz lines rule the day again.
I'll see you again at the BO

usdjpy-h4-capital-city-markets.png (65.62 KiB) Viewed 3101 times

[Mira]

We're both losers Mira, right about direction, just can't capture the MOVE. I don't give a s**t that Trump is getting impeached (good riddance). Its amazing how these fundamental things always seem to line up just fine with LOSS.

Horiz lines rule the day again.
I'll see you again at the BO

usdjpy-h4-capital-city-markets.png

Sometimes i take perfect entries and sometimes not ( ), but i accept it.

The parts that are getting me mad are two:

1) Why sometimes price can wick a level 100+ bars later and reverse and sometimes not? What are the mechanics behind it?
2) A real edge could be exiting for a zero loss when the trade is going bad. I'm not pretending to catch the reversal, i'm just trying to cancel the losses.

I need to work on these points.

[Libertarian]

My 2 cents and I'll shut up after this because I'm just trying to figure it out as well, but remember that MO uses only 28 or 32 bars, (although sometimes he doesn't ). My guess is because that is where fresh orders are that create the order flow dynamic. Anything else and its changed. Why does it sometimes work? Probably because if you plop a line anywhere you'll see reactions. Again, I don't know. Ask MO when he steps off the pulpit.

We're both losers Mira, right about direction, just can't capture the MOVE. I don't give a s**t that Trump is getting impeached (good riddance). Its amazing how these fundamental things always seem to line up just fine with LOSS.

Horiz lines rule the day again.
I'll see you again at the BO

usdjpy-h4-capital-city-markets.png

Sometimes i take perfect entries and sometimes not ( ), but i accept it.

The parts that are getting me mad are two:

1) Why sometimes price can wick a level 100+ bars later and reverse and sometimes not? What are the mechanics behind it?
2) A real edge could be exiting for a zero loss when the trade is going bad. I'm not pretending to catch the reversal, i'm just trying to cancel the losses.

I need to work on these points.

[MightyOne]

My 2 cents and I'll shut up after this because I'm just trying to figure it out as well, but remember that MO uses only 28 or 32 bars, (although sometimes he doesn't ). My guess is because that is where fresh orders are that create the order flow dynamic. Anything else and its changed. Why does it sometimes work? Probably because if you plop a line anywhere you'll see reactions. Again, I don't know. Ask MO when he steps off the pulpit.

Once you get to 32 then you check a larger chart and if you get to 32 again then you check an even larger chart: if you find what you are looking for in 1 bar then stop at one bar; 32 is just a stop that that says "hey buddy, I think that what you are looking for is up there".

When I briefly discussed fractals I talked about people who look for a specific thing vs people who 'know it when they see it': like falling into random holes and wondering why one time it produced a baby and the other time it did not vs 'knowing it when you see it'.

Why did it work one time and not the other? Because there was a distinction that you could not recognize.

[MightyOne]

There are a few more things that I find interesting...

fractals.png (48.44 KiB) Viewed 3051 times

"know it when you see it"

fractals2.png (60.06 KiB) Viewed 3040 times

[Mira]

My 2 cents and I'll shut up after this because I'm just trying to figure it out as well, but remember that MO uses only 28 or 32 bars, (although sometimes he doesn't ). My guess is because that is where fresh orders are that create the order flow dynamic. Anything else and its changed. Why does it sometimes work? Probably because if you plop a line anywhere you'll see reactions. Again, I don't know. Ask MO when he steps off the pulpit.

Once you get to 32 then you check a larger chart and if you get to 32 again then you check an even larger chart: if you find what you are looking for in 1 bar then stop at one bar; 32 is just a stop that that says "hey buddy, I think that what you are looking for is up there".

When I briefly discussed fractals I talked about people who look for a specific thing vs people who 'know it when they see it': like falling into random holes and wondering why one time it produced a baby and the other time it did not vs 'knowing it when you see it'.

Why did it work one time and not the other? Because there was a distinction that you could not recognize.

"Distinction"?

[MightyOne]

"Distinction"?

A recognizable difference.

Code: Select all

rec·og·niz·a·ble
[rekəɡˈnīzəb(ə)l]
ADJECTIVE
able to be recognized or identified from previous encounters or knowledge.

Code: Select all

dis·tinc·tion
[dəˈstiNG(k)SH(ə)n]
NOUN
a difference or contrast between similar things or people:

[forexmoney]

if your risk reward is 2to1 you only need to be right 33 % of the time to make money and in be the 5%.