How to be a MOnster

[Mira]

It's just a small difference in data.

You would probably choose to draw your line below the recent closes as you are also looking for your lines to be evenly spaced.


Sometimes I am not sure which way to draw it and I'll mark both:

You just have to make that decision when it comes time to actually place a trade.

Thank you MO!
I was trying to absorb your words and I found that, switching to candlesticks, many times that areas match with dragon lines.
Even if i still have problems taking decisions based on closes I see how they identify Key Levels!

[Mira]

I'm thinking about Doji's definition of momentum and how much it helped! (Thanks Doji!)

Anyway I found some problem trying to recognize what a "close over the previous extreme" X2 times is on lower tfs.
Ok, price makes a higher high (close above) but, if we are looking for a short, then we need to see price making a lower low (close below).. but which one?

Here I'm considering the low (or high) at the origin of the previous momentum, I remember MO talking about largest corrections somewhere in NLA

IMG_0270.PNG (32.02 KiB) Viewed 2760 times

[Mira]

Didn't take profits at the blue line, so I took a loss

IMG_0271.PNG (67.87 KiB) Viewed 2701 times

[Mira]

What does it mean? That lines don't exist? That every line is a zline?

And what i did until now?

WTF.png (26.49 KiB) Viewed 2938 times

[Mira]

What does it mean? That lines don't exist? That every line is a zline?

And what i did until now?

WTF.png

I need to calm down and to think.. because i SEE them everywhere now

Thanks MO.png (20.32 KiB) Viewed 2930 times

[MightyOne]

What does it mean? That lines don't exist? That every line is a zline?

And what i did until now?

WTF.png

I don't know what you are going on about, Mira, or why you are digging into the past when it has been
simplified and refined in the present.

The core is TROs "trading is horizontal lines": when price touches a line, don't think, act; if you have decided that it is a trigger
then it is a trigger.

The closes create price levels that you trade to and/or away from depending on what it is that you are doing.

You allocate lines here and there, you risk lines, & you make lines; it is really that simple.

EIGHTS takes care of the position sizing for you: if you make 5 lines on the H4 then you have 5 lines to use on any
chart and period (assuming that the position size required is tradable).

Lines are not pips, lines are a specific amount of money, they are segments of risk that you allocate to a chart & they can be apportioned any way that you see fit.

EURGBPH4.png (54.11 KiB) Viewed 2918 times

[MightyOne]

SO apparently my dream was wrong in direction but right in what it would look like...
that is what I get for sleeping on the wrong side of the bed

I need to find an interpreter of dreams. lol.

GBPUSDH4.png (52.42 KiB) Viewed 2918 times

[Mira]

I don't know what you are going on about, Mira, or why you are digging into the past when it has been
simplified and refined in the present.

The core is TROs "trading is horizontal lines": when price touches a line, don't think, act; if you have decided that it is a trigger
then it is a trigger.

The closes create price levels that you trade to and/or away from depending on what it is that you are doing.

You allocate lines here and there, you risk lines, & you make lines; it is really that simple.

EIGHTS takes care of the position sizing for you: if you make 5 lines on the H4 then you have 5 lines to use on any
chart and period (assuming that the position size required is tradable).

Lines are not pips, lines are a specific amount of money, they are segments of risk that you allocate to a chart & they can be apportioned any way that you see fit.


EURGBPH4.png

Thanks MO!
I'm not trying to over complicate things.. I posted that pic because I was thinking at your charts: price closing over lines/between areas.
I wasn't seeing how Eights is well structured

I'm not digging in the past (I remember that you told me to stay on new posts ) but i admit that sometimes I go back to find a correlation with the old ideas.
Btw the more I go on the better I see how things are simplified now.. thank you for this!

If I don't stress you too much I'd have a question about this img:

IMG_0287.PNG (29.84 KiB) Viewed 2904 times

what could we do if price closes over several lines (i.e. More than 4)? Do we skip the trade or do we switch to a bigger tf (bigger lines)?

Thanks!

[Mira]

SO apparently my dream was wrong in direction but right in what it would look like...
that is what I get for sleeping on the wrong side of the bed

I need to find an interpreter of dreams. lol.

GBPUSDH4.png

I always see that when I tell my dreams they never come true

BTW price moved so fast!
I'm wondering if we need some range analysis.. like "price left more than half of its real body above/below the line", or "price closed over an extreme" etc..

IMG_0288.PNG (55.98 KiB) Viewed 2902 times

[salezyakuku]

SO apparently my dream was wrong in direction but right in what it would look like...
that is what I get for sleeping on the wrong side of the bed

I need to find an interpreter of dreams. lol.

GBPUSDH4.png

Those patterns I have many pined on my wall . I miss art class.