How to be a MOnster

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Mira
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Re: How to be a MOnster

Postby Mira » Tue Oct 30, 2018 8:07 am

Mr. D wrote:Thanks, Mira. That makes sense.

A follow-up question. What do you do when there are too many lines? How do you "retire" them?

Mira wrote:
Mr. D wrote:Thanks for responding! When noticing how they serve as S&R, I get so interested that wish there was a simple guide how to use the. So, every time there is a color change at an extreme, it's a CC or dragon line?



They're the same thing.

How do you trade them is all up to you.
If you consider a line as a zone then you can use it like a place where price likes to stop a little and then run with momentum up or down.

At the moment i'm using lines as a bias, as a zline: above = up, below = down.
Obviously you don't trade THE LINE but something around that line, confirmed by the bias (above or below).

Mr. D a.png

Mr. D b.png


Good question.
That could be confusing so you want to draw lines from “points of interest” and not everywhere.

Extremes, strong reactions and CCs around the midpoint are good for entries.
However, when in a trade, I’d be more conservative so I’d draw every line in front of me as they could work as a target. You don’t want to let money on the table (thanks Alias :D ).
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Mira
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Re: How to be a MOnster

Postby Mira » Wed Oct 31, 2018 7:06 pm

Happy Halloween MOnsters!! :smt077
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IgazI
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Re: How to be a MOnster

Postby IgazI » Mon Nov 05, 2018 5:39 pm

GUIDE TO MAKING GOOD DECISIONS:

A line is a price, an area, and the focal point of the decision making process:

A time is vertical line that separates thought from action: no sooner than a new bar forms you put your thoughts into
action; without waiting for further confirmation.

Your thoughts should be simple:
"If price is in the area of 4 (at the open) then I will go short with a stop of -1 line"
"if the 2 SMA leaves the area of '4' then I will short with a stop of -1.25'"
"I am going to wait for another open because I have no idea what I should do"
"don't think, just act" -TRO

One half of the day will likely be more active than the other half and so the range sizes will alternate:
the advantage is twofold: 1. you risk your money with the 'promise' of larger reward, 2. you know what 'larger' is.

Continuation trades are made in the same direction as the prev. candle and only when the prev. range was larger; I think that it is good practice to reduce your position size by 25 to 50% to ensure a healthy increase in lot size no matter what the result is.

Be consistent in all things from the formula that you use for your lines to your decision making process to everything else.

LooLoo.png
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Mira
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Re: How to be a MOnster

Postby Mira » Mon Nov 05, 2018 7:50 pm

IgazI wrote:GUIDE TO MAKING GOOD DECISIONS:

A line is a price, an area, and the focal point of the decision making process:

A time is vertical line that separates thought from action: no sooner than a new bar forms you put your thoughts into
action; without waiting for further confirmation.

Your thoughts should be simple:
"If price is in the area of 4 (at the open) then I will go short with a stop of -1 line"
"if the 2 SMA leaves the area of '4' then I will short with a stop of -1.25'"
"I am going to wait for another open because I have no idea what I should do"
"don't think, just act" -TRO

One half of the day will likely be more active than the other half and so the range sizes will alternate:
the advantage is twofold: 1. you risk your money with the 'promise' of larger reward, 2. you know what 'larger' is.

Continuation trades are made in the same direction as the prev. candle and only when the prev. range was larger; I think that it is good practice to reduce your position size by 25 to 50% to ensure a healthy increase in lot size no matter what the result is.

Be consistent in all things from the formula that you use for your lines to your decision making process to everything else.

LooLoo.png


Hi IgazI!
Nice to see you back, how are you?

Yep I’m with ya.
EIGHTS/SPACE is saving my life, however my analysis still sucks lol.

I’m trading only doji zones and I can’t leave this plan until I make it work, however I’m studying very strictly the stats and I have a 50% of success out of my trades.

In two weeks my account is at +6%, being in profit is positive but I’d like to give a correct bias to my zones.
This is what I’m struggling with :lol:
__________ THE :smt096 IS A LIE__________

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Mira
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Re: How to be a MOnster

Postby Mira » Mon Nov 05, 2018 8:56 pm

Anyway, i think that I'll stick on the study of the "trend phases" (idk how to call the HH//LL stuff) before doing anything else.

I know that i have a BIG gap on this subject.. i don't know if it's something so simple that it's supposed to be implied (aka i'm a real *censored - swear word*) or if it's the key to give an interpretation at the market. I'm not saying that i'd know where the market is going :lol:
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Re: How to be a MOnster

Postby Mira » Mon Nov 05, 2018 9:19 pm

High
Low
Higher High
Higher Low
Lower High
LOWER LOW: This should be moment to look for a Lower High? Short? In this case price never stopped, so a short was unlikely.. but i missed a good long.
edit: in the pic the red LL should be LH, LOWER HIGH. Sorry

I don't mean that i want to catch all the moves, but not even taking a short :roll:

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Re: How to be a MOnster

Postby IgazI » Tue Nov 06, 2018 4:23 pm

There can only be one highest high and after that there can only be one lowest high: we need only ask ourselves if the chart is more interested in making higher highs or lower highs and then trade in that direction:

Mira.png
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Mira wrote:High
Low
Higher High
Higher Low
Lower High
LOWER LOW: This should be moment to look for a Lower High? Short? In this case price never stopped, so a short was unlikely.. but i missed a good long.
edit: in the pic the red LL should be LH, LOWER HIGH. Sorry

I don't mean that i want to catch all the moves, but not even taking a short :roll:

doubts.png

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Re: How to be a MOnster

Postby Leoheart » Tue Nov 06, 2018 11:56 pm

IgazI wrote:GUIDE TO MAKING GOOD DECISIONS:

A line is a price, an area, and the focal point of the decision making process:

A time is vertical line that separates thought from action: no sooner than a new bar forms you put your thoughts into
action; without waiting for further confirmation.

Your thoughts should be simple:
"If price is in the area of 4 (at the open) then I will go short with a stop of -1 line"
"if the 2 SMA leaves the area of '4' then I will short with a stop of -1.25'"
"I am going to wait for another open because I have no idea what I should do"
"don't think, just act" -TRO

One half of the day will likely be more active than the other half and so the range sizes will alternate:
the advantage is twofold: 1. you risk your money with the 'promise' of larger reward, 2. you know what 'larger' is.

Continuation trades are made in the same direction as the prev. candle and only when the prev. range was larger; I think that it is good practice to reduce your position size by 25 to 50% to ensure a healthy increase in lot size no matter what the result is.

Be consistent in all things from the formula that you use for your lines to your decision making process to everything else.

LooLoo.png


On many posts I have to read your replies in atleast 4 times to comprehend a 1/10 of what your saying. I love it though, there is always hidden gems of truth. In red:

I don't follow, Can you please elaborate abit on this?

Edit: I think I am taking this out of context. We are taking about HTFs, correct?

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Re: How to be a MOnster

Postby IgazI » Wed Nov 07, 2018 2:34 pm

Leoheart wrote:
On many posts I have to read your replies in atleast 4 times to comprehend a 1/10 of what your saying. I love it though, there is always hidden gems of truth. In red:

I don't follow, Can you please elaborate abit on this?

Edit: I think I am taking this out of context. We are taking about HTFs, correct?


The 12 hour chart specifically...
I wait for a smaller range because it is more likely that the next period will cover more ground; & I want to risk money for the greatest potential for profit.
If the range is larger, & the close is not weak, then I will make a [continuation trade]* in the direction of that candles color.

*lot size is not increased for continuation trades.

Here is a chart marking highest lows and lowest highs ('armpits'):
Mira.png
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Re: How to be a MOnster

Postby Leoheart » Wed Nov 07, 2018 4:11 pm

IgazI wrote:
Leoheart wrote:
On many posts I have to read your replies in atleast 4 times to comprehend a 1/10 of what your saying. I love it though, there is always hidden gems of truth. In red:

I don't follow, Can you please elaborate abit on this?

Edit: I think I am taking this out of context. We are taking about HTFs, correct?


The 12 hour chart specifically...
I wait for a smaller range because it is more likely that the next period will cover more ground; & I want to risk money for the greatest potential for profit.
If the range is larger, & the close is not weak, then I will make a [continuation trade]* in the direction of that candles color.

*lot size is not increased for continuation trades.

Here is a chart marking highest lows and lowest highs ('armpits'):
Mira.png


Beautifully said, friend. It makes sense now. Thanks.

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