How to be a MOnster

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Mira
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Re: How to be a MOnster

Postby Mira » Thu Mar 30, 2017 8:15 am

Hi Tom!

I found this post that MO wrote me on page 383 of The Ideas, it's about extremes and I think it could help:

MightyOne wrote:
I keep saying "don't read old posts, they are just going to confuse you when you read the new posts" but people do it anyway.

A stop at the extreme is not required, but if it were then you would simply change your position size to give yourself more space.

The flaw in trading away from the extremes is that there is only ONE highest high & lowest low in a given period of time.
If price is at the extreme then it is not below something and if it is not lower than something then how can we go short?

We could wait for a smaller chart to move below something but now we are praying that price moves to the opposite end of the bar and starts expanding in the opposite direction; something that is even less likely than an extreme being THE extreme.

Will there be hundreds of pips between the extremes, yes.
If you know the end then all that you have to do is solve the beginning.

If you want to learn how to read a chart then focus on patterns and breakouts.

Patterns_and_Breakouts.png
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Re: How to be a MOnster

Postby Mira » Thu Mar 30, 2017 9:03 am

I'm trying to be more confident with my angles.. I'll look for short below red lines and long above the green, a triangle :wink:

IMG_2659.PNG
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Re: How to be a MOnster

Postby elkin.fernandez » Thu Mar 30, 2017 2:52 pm

Hey, Mira:

That's what I understand about Zero Lines:

EURUSD
Image

USDCAD
Image

AUDUSD
Image

¿Am I missing something?
8) ¡Just Trade It! (JTi) 8)

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Re: How to be a MOnster

Postby Mira » Thu Mar 30, 2017 5:31 pm

elkin.fernandez wrote:Hey, Mira:

That's what I understand about Zero Lines:

EURUSD
Image

USDCAD
Image

AUDUSD
Image

¿Am I missing something?


Hi Elkin!

Your lines are so long that I can't see where they start and what you are seeing.. but they looks good to me! :D

Just remember: don't take zlines or supply/demand as supports and resistances.

In your AU chart (just for take one) you can see how price is compressed between two lines and you already have something below the upper line, so you'd simply need a close ABOVE that line to look for a buy:

IMG_2662.PNG
IMG_2662.PNG (56.85 KiB) Viewed 1866 times


but if you are looking for a short at that line then you need two steps, a close ABOVE something and a close BELOW something.. or you'd be selling a resistance, not a zline/supply:

IMG_2661.PNG
IMG_2661.PNG (57.98 KiB) Viewed 1866 times


---> !!! If you look at this PA on a lower tf it's cool, because this is still an area, but keep in mind that you are trading THAT timeframe (Daily, i.e.) and NOT the monthly!
Monthly chart still isn't showing a close above and below that line.

IMG_2664.PNG
IMG_2664.PNG (59.54 KiB) Viewed 1866 times


Also remember this: zlines could be everywhere, to draw a price map place lines where you feel that something strong happened.. opens, close, midpoints or dragon lines/color change are... magic =)

(Lines at momo opens)
IMG_2663.PNG
IMG_2663.PNG (60.38 KiB) Viewed 1866 times


Let me know if this helps! :)
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Re: How to be a MOnster

Postby Mira » Thu Mar 30, 2017 5:40 pm

Paper trading for today. :P

IMG_2667.PNG
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IMG_2666.PNG
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Re: How to be a MOnster

Postby elkin.fernandez » Thu Mar 30, 2017 9:21 pm

Price didn't close above yet, for what I see.. maybe I'd scalp until the 50% but it looks dangerous.


So dangerous, LOL. Price at 1.0678 (-50 pips)

Just remember: don't take zlines or supply/demand as supports and resistances.

Zlines could be everywhere, to draw a price map place lines where you feel that something strong happened.. opens, close, midpoints or dragon lines/color change are... magic =)


Thanks Mira. I am learning everyday.

but if you are looking for a short at that line then you need two steps, a close ABOVE something and a close BELOW something..

¿Could price begin to short without CLOSE ABOVE?

I ask you that because of it:

you need two steps, a close ABOVE something and a close BELOW something


I supose this CLOSE must have force (MOMOs). ¿Right?

---> !!! If you look at this PA on a lower tf it's cool, because this is still an area, but keep in mind that you are trading THAT timeframe (Daily, i.e.) and NOT the monthly!



This TF looks like you said before as a ideal PA. LOL.

Note: ¿How I quote a picture?
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Re: How to be a MOnster

Postby Mira » Fri Mar 31, 2017 9:06 am

elkin.fernandez wrote:
Price didn't close above yet, for what I see.. maybe I'd scalp until the 50% but it looks dangerous.


So dangerous, LOL. Price at 1.0678 (-50 pips)

Just remember: don't take zlines or supply/demand as supports and resistances.

Zlines could be everywhere, to draw a price map place lines where you feel that something strong happened.. opens, close, midpoints or dragon lines/color change are... magic =)


Thanks Mira. I am learning everyday.

but if you are looking for a short at that line then you need two steps, a close ABOVE something and a close BELOW something..

¿Could price begin to short without CLOSE ABOVE?

I ask you that because of it:

you need two steps, a close ABOVE something and a close BELOW something


I supose this CLOSE must have force (MOMOs). ¿Right?

---> !!! If you look at this PA on a lower tf it's cool, because this is still an area, but keep in mind that you are trading THAT timeframe (Daily, i.e.) and NOT the monthly!



This TF looks like you said before as a ideal PA. LOL.

Note: ¿How I quote a picture?



I don't know why sometimes it quotes pictures too and sometimes not :roll: we might ask Kreslik :D

Anyway.. price could start to drop from tops without a close above/below but you'd be guessing.
Remember this MO statement:

If price is at the extreme then it is not below something and if it is not lower than something then how can we go short?

We could wait for a smaller chart to move below something but now we are praying that price moves to the opposite end of the bar and starts expanding in the opposite direction; something that is even less likely than an extreme being THE extreme.


These words opened my eyes!
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Re: How to be a MOnster

Postby Mira » Fri Mar 31, 2017 1:25 pm

I'm trying to find an easy use of Eights/space and a way to planning my trades so I can start posting some entries, then we could try to give some life to this thread. 8)
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Re: How to be a MOnster

Postby elkin.fernandez » Fri Mar 31, 2017 2:50 pm

I'm trying to find an easy use of Eights/space and a way to planning my trades so I can start posting some entries, then we could try to give some life to this thread.


That sounds GREAT!

If price is at the extreme then it is not below something and if it is not lower than something then how can we go short? We could wait for a smaller chart to move below something but now we are praying that price moves to the opposite end of the bar and starts expanding in the opposite direction; something that is even less likely than an extreme being THE extreme.


Got it! I applied that!.
8) ¡Just Trade It! (JTi) 8)

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Re: How to be a MOnster

Postby Mira » Fri Mar 31, 2017 5:34 pm

I found this pic in Doji's thread posted by Captain Pugwash

IMG_2726.PNG
IMG_2726.PNG (194.07 KiB) Viewed 1997 times


Now I'm starting to see why I need to protect space, adding&trailing is cool but if I keep my position far enough is MORE cool 8)
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