How to be a MOnster

[Mira]

I.e.

Since i'm trading off of #3 semas (or the daily H/L) on H1 charts, usually i find myself positioned at a weekly extreme.
Then i'm wondering if the Cash Zone was made for this kind of entries.

EURZARH1.png

I have the Cash Zone indi but not sure exactly the best way to make use of it. Is there a specific way it was supposed to be traded?

Is it basically a Weekly Rat Zone?

It was made for targets, there is a thread too but I’m still at page... 5? LOL

beginners-forum/the-weekly-crash-zone-t2406

I attached the indi to all the charts two or three days ago and price respected the zone pretty well.

[Mira]

I’m trying to understand if I’m missing something or if it’s just a target area.

[LeMercenaire]

I.e.

Since i'm trading off of #3 semas (or the daily H/L) on H1 charts, usually i find myself positioned at a weekly extreme.
Then i'm wondering if the Cash Zone was made for this kind of entries.

EURZARH1.png

I have the Cash Zone indi but not sure exactly the best way to make use of it. Is there a specific way it was supposed to be traded?

Is it basically a Weekly Rat Zone?

It was made for targets, there is a thread too but I’m still at page... 5? LOL

beginners-forum/the-weekly-crash-zone-t2406

I attached the indi to all the charts two or three days ago and price respected the zone pretty well.

Ah! A thread. It didn't occur to me to look for a thread, lol.

Ta much. I'll join you in checking it out.

[LeMercenaire]

OK then! I had a major feeling of deja vu when I jumped over. I am sure I have trod that ground at some time way back when.

Whether it was actually on the thread or (maybe more likely) some posts pulled from it, I don't know.

I'll read that through and see if I can pull something from it...well, it's MO, so you're never wasting your time, eh?

[Mira]

Ok the Crash Zone is made for swing traders

Yeh, but how do you know, which way price will go:
Up or Down?

This brings us full circle back to momo

Body in the direction of profit

Wick in the direction of loss

Wicks show the way not when...

Bodies show the way when...

You get the picture.

The Weekly Crash Zone is there to give you an idea as to how much profit you can realistically expect to make in a week when trading off of a daily+ extreme.

"A non-momentum candle will nearly always make it to target 1.

And a momentum candle will nearly always make it to target 2. "

MightyOne,

How do you handle the above information?

By making a decision if it is non-momo or momo or by taking profits
at T1 and then close the remaining at T2?

At the very least you should trade to target one since it is almost certain that price will go there.

If you take a RAT TRADE off of the daily low and inside of target one then you would be shooting for target 2 (keeping your eyes peeled for a reversal setup).

When you find yourself inside of target 2 you are probably sitting at the largest gain that you are going to get.

Should I Hold'em or should I Fold'em?

It is a tool to help you decide.

[aliassmith]

I'm Not sure about stop learning, but there comes a point when you have to stop aggressively chasing the new better thing.

Being a Master at one method, 1 to 3 triggers, in a limited number of markets is the way to go.

Most people don't become professional MLB pitcher a NFL running back, and a NHL goalie successfully.

Be only a MLB pitcher, learn a few pitches and how to use them is various situations then you'll be better off.

Totally agree.

Gaining knowledge of new things is fun but when making a living, find something you're good at, that you enjoy (not necessarily the same thing but it helps - and at least you can do that until you find something that ticks both boxes) and do it well.

Having said all that, you made me think of Bo Jackson and I'm off to YT to relive those memories! (If anybody out there hasn't heard of Bo Jackson and you have any interest in sport at all, do yourself a favour and check him out - if the word awesome didn't exist, then someone would have to invent it to describe his talent! Played both Pro Football and Pro Baseball at the highest level in back-to-back seasons through the year).

Had the privilege of seeing him play for The Raiders.

You should see him just now, his fitness levels are astonishing.

He could have played pretty much any sport he fancied - check out his Wiki page.

Anyway...sorry, it's a slow day, lol. That was a nice diversion.

Where were we?

For us mere mortals...

Pick one thing...keep it as simple as you can make it...get as good at that one thing as you possibly can.

Thank you guys!

Last summer I started to focus on a trading plan for the first time, stick to one method and stay focused.
Well, i'm not the best trader of the jungle but things are going a waaaay better.
There are moments that i start to see more, then my brain go 0 to 100 real quick so i learned to slow down and go back to the plan

Sometimes i'm still confused about the direction, usually it happens when i go up&down between the time frames and i see different scenarios, breakouts and midpoints. However price will close above or below at some point, i accept the loss (just to see that my first choice was the right one lol).
Sometimes i still leave profits one the table trying to catch a "big one" and price comes back to zero me out, i know it.

Otherwise i'm VERY happy with my results and it's because of you

One of the most aggravating things people say when they trade is "I left money on the table" LOL.....
You will never consistently capture a whole move, unless you have a crystal ball. Believeing that you missed out is counter productive to your trading mindset.

[LeMercenaire]

Totally agree.

Gaining knowledge of new things is fun but when making a living, find something you're good at, that you enjoy (not necessarily the same thing but it helps - and at least you can do that until you find something that ticks both boxes) and do it well.

Having said all that, you made me think of Bo Jackson and I'm off to YT to relive those memories! (If anybody out there hasn't heard of Bo Jackson and you have any interest in sport at all, do yourself a favour and check him out - if the word awesome didn't exist, then someone would have to invent it to describe his talent! Played both Pro Football and Pro Baseball at the highest level in back-to-back seasons through the year).

Had the privilege of seeing him play for The Raiders.

You should see him just now, his fitness levels are astonishing.

He could have played pretty much any sport he fancied - check out his Wiki page.

Anyway...sorry, it's a slow day, lol. That was a nice diversion.

Where were we?

For us mere mortals...

Pick one thing...keep it as simple as you can make it...get as good at that one thing as you possibly can.

Thank you guys!

Last summer I started to focus on a trading plan for the first time, stick to one method and stay focused.
Well, i'm not the best trader of the jungle but things are going a waaaay better.
There are moments that i start to see more, then my brain go 0 to 100 real quick so i learned to slow down and go back to the plan

Sometimes i'm still confused about the direction, usually it happens when i go up&down between the time frames and i see different scenarios, breakouts and midpoints. However price will close above or below at some point, i accept the loss (just to see that my first choice was the right one lol).
Sometimes i still leave profits one the table trying to catch a "big one" and price comes back to zero me out, i know it.

Otherwise i'm VERY happy with my results and it's because of you

One of the most aggravating things people say when they trade is "I left money on the table" LOL.....
You will never consistently capture a whole move, unless you have a crystal ball. Believeing that you missed out is counter productive to your trading mindset.

Yep. It's poisonous and breeds resentment, negativity and a 'poor me' attitude.

Learning to love +1 and 'anything that's not a loss' is vital to a trader's psychological health.

I can guarantee that if you ask any successful pro if they ever regret missing out on a bigger move, they'd look at you as if you were nuts.

Anyway, if any move goes on into a strong trend, you should have developed techniques for jumping on board (not chasing a trade, that's different and a special kind if stupid).

[Mira]

Thank you guys!

Last summer I started to focus on a trading plan for the first time, stick to one method and stay focused.
Well, i'm not the best trader of the jungle but things are going a waaaay better.
There are moments that i start to see more, then my brain go 0 to 100 real quick so i learned to slow down and go back to the plan

Sometimes i'm still confused about the direction, usually it happens when i go up&down between the time frames and i see different scenarios, breakouts and midpoints. However price will close above or below at some point, i accept the loss (just to see that my first choice was the right one lol).
Sometimes i still leave profits one the table trying to catch a "big one" and price comes back to zero me out, i know it.

Otherwise i'm VERY happy with my results and it's because of you

One of the most aggravating things people say when they trade is "I left money on the table" LOL.....
You will never consistently capture a whole move, unless you have a crystal ball. Believeing that you missed out is counter productive to your trading mindset.

Yep. It's poisonous and breeds resentment, negativity and a 'poor me' attitude.

Learning to love +1 and 'anything that's not a loss' is vital to a trader's psychological health.

I can guarantee that if you ask any successful pro if they ever regret missing out on a bigger move, they'd look at you as if you were nuts.

Anyway, if any move goes on into a strong trend, you should have developed techniques for jumping on board (not chasing a trade, that's different and a special kind if stupid).

I agree with you guys.
However I don’t understand how to re-jump in without entering at a worst price or having to resize the position.

I’m not saying that leaving money on the table is good, I’m just trying to grasp it.

[LeMercenaire]

One of the most aggravating things people say when they trade is "I left money on the table" LOL.....
You will never consistently capture a whole move, unless you have a crystal ball. Believeing that you missed out is counter productive to your trading mindset.

Yep. It's poisonous and breeds resentment, negativity and a 'poor me' attitude.

Learning to love +1 and 'anything that's not a loss' is vital to a trader's psychological health.

I can guarantee that if you ask any successful pro if they ever regret missing out on a bigger move, they'd look at you as if you were nuts.

Anyway, if any move goes on into a strong trend, you should have developed techniques for jumping on board (not chasing a trade, that's different and a special kind if stupid).

I agree with you guys.
However I don’t understand how to re-jump in without entering at a worst price or having to resize the position.

I’m not saying that leaving money on the table is good, I’m just trying to grasp it.

You have to forget about what went before and simply treat the next entry as a completely new stand alone trade.

As such, for me, I'd be looking for micro Supply + Demand and a pullback to that. Played in the same way as you'd run a Resistance-becomes-Support play.

An alternative is to use SweetSpots entry techniques.

[LeMercenaire]

I was trying to think of the other re-entry method I use most! Brain fart!

It's to look for any Z-lines. Obviously if you have drilled it down to the lower time frames, they may likely be less robust but they will normally still hold up, especially if they are backed by a fib-map, doubly so if you've got a 50-line level.