How to be a MOnster

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aliassmith
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Re: How to be a MOnster

Postby aliassmith » Thu Nov 14, 2019 10:14 pm

Mira wrote:
aliassmith wrote:
Mira wrote:
Momentum creates Z-Lines.


If i only knew it 4 or 5 years ago... lol just kidding :lol:


Chickened out the first trade and gave 8 pips to the market

NZDUSDM15.png


Well a candle closing above/below the extreme of the previous candle creates a break-out. A break out is where many people enter the market. If many of the people enter the market near that break-out then that is where the zero-line or break even area is.

Momentum can be an indication of how many people/money/orders were interested in that break-out and direction.

Large break-out plus high volume = momentum?
Large break-out plus low volume = low liquidity?

Even small break-out candles can spark a new leg on the chart.

We still need to consider market context to increase our probability.


Got it, thank you Alias!

That sounds a lot like VSA, I’ve been on it for a little time some year ago.
Is volume a reliable datum if using a broker dealer?[/quote]

I guess it does sound like VSA a bit. You can see more reliable volume in futures, stock, etc. You don't need volume in Forex really I was just putting that out there as something to think about. Consider market context and not blindly picking an extry. If you are blindly pickinging an entry then consider a small position and build it based on how the market behaves. You don't have to be so great that you make 1 entry and 1 exit. Try multiple entries and multiple exits over the same move. I don't do single entries or exits anymore. Consider entering where the check marks are. If it went lower I would have made another entry.
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Mira
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Re: How to be a MOnster

Postby Mira » Fri Nov 15, 2019 9:28 am

It missed the take profit by a few points.. i still need to tighten up targets. Closed when it reversed.

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Mira
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Re: How to be a MOnster

Postby Mira » Fri Nov 15, 2019 1:14 pm

I closed everything before the target because of the upcoming news and price stalling around the various resistance line..
Not a big deal, it's enough for me.. i feel that my head is exploding :shock: :lol:

however, now is moving in direction of my original targets so i know that analysis was right


NZDUSDM15.png
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GBPJPYM15.png
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Mira
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Re: How to be a MOnster

Postby Mira » Fri Nov 15, 2019 3:27 pm

Maaaaan I left half of the money on the table I see :shock: :mrgreen:

The problem is that I was extra exposed on GBP and I wanted my pips, nice move to the upside btw.. even if I’m on a demo account lol
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aliassmith
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Re: How to be a MOnster

Postby aliassmith » Sat Nov 16, 2019 4:17 pm

aliassmith wrote:
Mira wrote:
aliassmith wrote:
If i only knew it 4 or 5 years ago... lol just kidding :lol:


Chickened out the first trade and gave 8 pips to the market

NZDUSDM15.png


Well a candle closing above/below the extreme of the previous candle creates a break-out. A break out is where many people enter the market. If many of the people enter the market near that break-out then that is where the zero-line or break even area is.

Momentum can be an indication of how many people/money/orders were interested in that break-out and direction.

Large break-out plus high volume = momentum?
Large break-out plus low volume = low liquidity?

Even small break-out candles can spark a new leg on the chart.

We still need to consider market context to increase our probability.


Got it, thank you Alias!

That sounds a lot like VSA, I’ve been on it for a little time some year ago.
Is volume a reliable datum if using a broker dealer?


I guess it does sound like VSA a bit. You can see more reliable volume in futures, stock, etc. You don't need volume in Forex really I was just putting that out there as something to think about. Consider market context and not blindly picking an extry. If you are blindly pickinging an entry then consider a small position and build it based on how the market behaves. You don't have to be so great that you make 1 entry and 1 exit. Try multiple entries and multiple exits over the same move. I don't do single entries or exits anymore. Consider entering where the check marks are. If it went lower I would have made another entry.[/quote]

Updated Chart! If you was able to catch the exact low there was a 2:1 return but this was about 1.3:1
Being agressive there was a 4:1 in there.
Patience
Market Context
Risk Management
Multiple Entries
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aliassmith
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Re: How to be a MOnster

Postby aliassmith » Sat Nov 16, 2019 5:39 pm

Observational Post
Price breaks out and comes back
Confluence with 61.8 Fibs
2:1 available or more depending on entry options
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Mira
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Re: How to be a MOnster

Postby Mira » Sun Nov 17, 2019 12:20 pm

aliassmith wrote:Observational Post
Price breaks out and comes back
Confluence with 61.8 Fibs
2:1 available or more depending on entry options


Very very nice, thank you Alias!
I’m training my eyes to scan markers and to see big and large moves aka momentum, everything looks different now :shock:

Sometimes charts are still not showing clear momo but it takes a bit I guess!

[-o< [-o<
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Re: How to be a MOnster

Postby trojoh68 » Thu Nov 28, 2019 3:14 pm

Happy birthday, Mira! I hope you're doing well and making pips!

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Mira
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Re: How to be a MOnster

Postby Mira » Thu Nov 28, 2019 4:50 pm

trojoh68 wrote:Happy birthday, Mira! I hope you're doing well and making pips!


Thank you so much Troy!!!! [-o<

I’m still around, just re-studying and writing my plan.
Things are going better now and it’s all to this board and the traders living here. I love you guys!

When I’m ready I’m going to post the ideas that I’m trading atm!

What about you Troy?
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Re: How to be a MOnster

Postby trojoh68 » Thu Nov 28, 2019 8:46 pm

I just returned from taking a break for 2-3 weeks. I had some profitable months and then had a long losing streak. I started losing confidence and getting confused by what I saw, so Dojirock told me to take a break. I needed it and I'm trying to come back with a simpler approach built on what I have learned but also based on what I am observing. There is a post above by aliassmith about market context that intrigued me because I think that is where I am deficient in my trading. That about summarizes where I have been lately.

I'll keep following your thread with interest. I'm glad to hear that things are going better for you.

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