How to be a MOnster

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Mira
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Re: How to be a MOnster

Postby Mira » Sun Dec 08, 2019 9:35 pm

NLA is a sort of trading bible :lol:
I’m used to read a few pages around the forum sometimes and now i casually found a post about zlines and stop placement.

Hey 8) :lol:

MightyOne wrote:Zero Lines are only for discretionary traders and that is why there are only about 5 or so traders on this forum that make money with them.

They were meant to be analyzed on 4 hour or greater time frames!

If you want to use them on a 5m chart then go ahead and act a fool :lol:

Zero Lines do not signal trades!

Their purpose is to determine direction and areas where there is a low chance of draw down.

IF YOU DO NOT UNDERSTAND THIS PICTURE THEN ZERO LINES ARE NOT FOR YOU:

4CDA134E-87B7-4FD4-A32F-4E5F7D4585C1.gif
4CDA134E-87B7-4FD4-A32F-4E5F7D4585C1.gif (15.44 KiB) Viewed 737 times

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Jhx
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Re: How to be a MOnster

Postby Jhx » Sun Dec 08, 2019 11:50 pm

Mira wrote:NLA is a sort of trading bible :lol:
I’m used to read a few pages around the forum sometimes and now i casually found a post about zlines and stop placement.

Hey 8) :lol:

MightyOne wrote:Zero Lines are only for discretionary traders and that is why there are only about 5 or so traders on this forum that make money with them.

They were meant to be analyzed on 4 hour or greater time frames!

If you want to use them on a 5m chart then go ahead and act a fool :lol:

Zero Lines do not signal trades!

Their purpose is to determine direction and areas where there is a low chance of draw down.

IF YOU DO NOT UNDERSTAND THIS PICTURE THEN ZERO LINES ARE NOT FOR YOU:

4CDA134E-87B7-4FD4-A32F-4E5F7D4585C1.gif

And I still don't understand that picture.

On another note on the NLA thread, there are some really good comments.

"it really is that simple----"Naked charts and horizontal lines really allow you to see."

its like the market moves to zero out certain traders and then it goes the other direction to zero out the others and then back and then it goes again and it just repeats over and over again.

Almost like a big expensive game of ping pong."
(ES/PIP)

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Mira
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Re: How to be a MOnster

Postby Mira » Mon Dec 09, 2019 10:24 am

Jhx wrote:
Mira wrote:NLA is a sort of trading bible :lol:
I’m used to read a few pages around the forum sometimes and now i casually found a post about zlines and stop placement.

Hey 8) :lol:

MightyOne wrote:Zero Lines are only for discretionary traders and that is why there are only about 5 or so traders on this forum that make money with them.

They were meant to be analyzed on 4 hour or greater time frames!

If you want to use them on a 5m chart then go ahead and act a fool :lol:

Zero Lines do not signal trades!

Their purpose is to determine direction and areas where there is a low chance of draw down.

IF YOU DO NOT UNDERSTAND THIS PICTURE THEN ZERO LINES ARE NOT FOR YOU:

4CDA134E-87B7-4FD4-A32F-4E5F7D4585C1.gif

And I still don't understand that picture.

On another note on the NLA thread, there are some really good comments.

"it really is that simple----"Naked charts and horizontal lines really allow you to see."

its like the market moves to zero out certain traders and then it goes the other direction to zero out the others and then back and then it goes again and it just repeats over and over again.

Almost like a big expensive game of ping pong."
(ES/PIP)


I had the same problem about that pic lol
However it’s simpler than it looks:

the first rectangle contains the bullish momo, every line <= 50% is a potential zline.
The second rectangle is a consecutive bar if you imagine it as a Custom Candle, so a pullback and wick is a Zline trade.
The third rectangle is a trade away from a support (not consecutive move).

The stop loss area is based on the pivot made by the first rectangle and that answers my question from last day.

I hope it makes sense.
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Re: How to be a MOnster

Postby Jhx » Mon Dec 09, 2019 6:30 pm

Mira wrote:
Jhx wrote:
Mira wrote:NLA is a sort of trading bible :lol:
I’m used to read a few pages around the forum sometimes and now i casually found a post about zlines and stop placement.

Hey 8) :lol:


And I still don't understand that picture.

On another note on the NLA thread, there are some really good comments.

"it really is that simple----"Naked charts and horizontal lines really allow you to see."

its like the market moves to zero out certain traders and then it goes the other direction to zero out the others and then back and then it goes again and it just repeats over and over again.

Almost like a big expensive game of ping pong."
(ES/PIP)


I had the same problem about that pic lol
However it’s simpler than it looks:

the first rectangle contains the bullish momo, every line <= 50% is a potential zline.
The second rectangle is a consecutive bar if you imagine it as a Custom Candle, so a pullback and wick is a Zline trade.
The third rectangle is a trade away from a support (not consecutive move).

The stop loss area is based on the pivot made by the first rectangle and that answers my question from last day.

I hope it makes sense.

Yeah, I got those back when I saw the chart. My problem was putting it together with what MO was writing in that same post and when comparing to other charts.

I don't know if the 3rd / 4th candles were indicative of any type of trade (I remember that if it didn't happen fast you were just looking at a typical support / resistance trade). Furthermore, I don't understand why the 2nd, 3rd and 4th candles have the same height as the momentum one, or the way the stop loss area is divided by 3 (yeah I get that it's the same as the 4 lines within the open and 50% of the momentum bar, I just don't get why it was done that way).

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Re: How to be a MOnster

Postby Mira » Mon Dec 09, 2019 6:46 pm

Jhx wrote:
Mira wrote:
Jhx wrote:And I still don't understand that picture.

On another note on the NLA thread, there are some really good comments.

"it really is that simple----"Naked charts and horizontal lines really allow you to see."

its like the market moves to zero out certain traders and then it goes the other direction to zero out the others and then back and then it goes again and it just repeats over and over again.

Almost like a big expensive game of ping pong."
(ES/PIP)


I had the same problem about that pic lol
However it’s simpler than it looks:

the first rectangle contains the bullish momo, every line <= 50% is a potential zline.
The second rectangle is a consecutive bar if you imagine it as a Custom Candle, so a pullback and wick is a Zline trade.
The third rectangle is a trade away from a support (not consecutive move).

The stop loss area is based on the pivot made by the first rectangle and that answers my question from last day.

I hope it makes sense.

Yeah, I got those back when I saw the chart. My problem was putting it together with what MO was writing in that same post and when comparing to other charts.

I don't know if the 3rd / 4th candles were indicative of any type of trade (I remember that if it didn't happen fast you were just looking at a typical support / resistance trade). Furthermore, I don't understand why the 2nd, 3rd and 4th candles have the same height as the momentum one, or the way the stop loss area is divided by 3 (yeah I get that it's the same as the 4 lines within the open and 50% of the momentum bar, I just don't get why it was done that way).


Wow we had the same identical doubts :lol:
There is another post where he shows similar boxes to describe price on time.
However MO’s style was a bit artsy.. I think that his idea was to keep things opened to a trader imagination, like saying that nothing is fixed in the stone.

He had the opposite result for many of us lol
With time, slowly, I’m understanding his posts and charts.. it’s a journey! :D
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Re: How to be a MOnster

Postby Mira » Mon Dec 09, 2019 10:46 pm

It's a dead December, today i took only this one :smt114
Closed before rollover.
USDCADM15.png
USDCADM15.png (51 KiB) Viewed 661 times
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Re: How to be a MOnster

Postby Jhx » Tue Dec 10, 2019 12:39 am

Mira wrote:It's a dead December, today i took only this one :smt114
Closed before rollover.
USDCADM15.png

What's your criteria for taking multiple entries?

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Re: How to be a MOnster

Postby LeMercenaire » Tue Dec 10, 2019 8:21 am

Mira wrote:It's a dead December, today i took only this one :smt114
Closed before rollover.
USDCADM15.png


I trade next to nothing in December and much of January.

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Mira
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Re: How to be a MOnster

Postby Mira » Tue Dec 10, 2019 6:21 pm

Jhx wrote:
Mira wrote:It's a dead December, today i took only this one :smt114
Closed before rollover.
USDCADM15.png

What's your criteria for taking multiple entries?


I’m just splitting the entry into multiple positions as price retrace back (as Alias suggested me) and the pattern is still valid..

In this case the first entry was a TTE and the second a #2 break of a 1-2-3 that slowly died into low liquidity :lol:
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aliassmith
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Re: How to be a MOnster

Postby aliassmith » Tue Dec 10, 2019 8:22 pm

Mira wrote:
Jhx wrote:
Mira wrote:It's a dead December, today i took only this one :smt114
Closed before rollover.
USDCADM15.png

What's your criteria for taking multiple entries?


I’m just splitting the entry into multiple positions as price retrace back (as Alias suggested me) and the pattern is still valid..

In this case the first entry was a TTE and the second a #2 break of a 1-2-3 that slowly died into low liquidity :lol:

Does it help splitting it up?
I like it because I don't have to obsess about being exactly right on my entry. It's not an all or nothing situation.
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