How to be a MOnster

[tom7ak]

Just thinking out loud, sorry. ive been playing with charts and TFs. It seems so obvious now that it was worth a shot to go long there. Double bottom, valid zone. The same for red zone. Just look at all that wicks (of red zone) then false breakdown (red momo) to trick the traders and then the real move.

[tom7ak]

Mira i think i am changing directions yet again. No more trading in the zone. No more waiting for the zone to be hit only to be wicked out of a trade. I need sth SIMPLE. Price is going up i buy, price is going down i sell. All the rest (art) is to "impress women" 20 pips - done for a day. Body shows the way, wick shows the way not. Night

[tom7ak]

Mira i think i am changing directions yet again. No more trading in the zone. No more waiting for the zone to be hit only to be wicked out of a trade. I need sth SIMPLE. Price is going up i buy, price is going down i sell. All the rest (art) is to "impress women" 20 pips - done for a day. Body shows the way, wick shows the way not. Night

[tom7ak]

Must`ve been important if appeared twice:) sorry

[MightyOne]

Must`ve been important if appeared twice:) sorry

[Mira]

Every pattern is a potential platform and every horizontal line is a potential trigger, but what is the idea?

Are you trading the daily price level or maybe the H4 BDP+WDL?

USDJPYH1.png

A pattern is not a trade any more than a horizontal line is a trigger.
WHAT IS THE PLAN, STAN?
What position sizing are you going to attack it with?
How many lines are dedicated to it?
How many angles (periods) are going to approach it?
How fast do you need to accumulate? In which period is the idea?
How fast are you going to accumulate? How skillful/greedy are you?

Where are you? What do you want? Where are you going?
Standing on the beach is a good start, but you have to swim with the sharks until you find your wave.



3for_mira.png

Looking better.. MO, do you think that this could be a clear view? Or that I could do better?
Thank you!

[Mira]

Mira i think i am changing directions yet again. No more trading in the zone. No more waiting for the zone to be hit only to be wicked out of a trade. I need sth SIMPLE. Price is going up i buy, price is going down i sell. All the rest (art) is to "impress women" 20 pips - done for a day. Body shows the way, wick shows the way not. Night

Ok Tom! If you feel confident with what you're doing then it's ok, but when you find your way KEEP IT!

I'm a newbie so I can't teach you anything (first I need to learn too ) but I'm sure of one thing: draw a line in a random place of the chart and go back in time, that line worked as a S/R and price bounced several times on it.
[https://youtu.be/py0IMjd8nII]

I don't know why it works but it works! Then there are places where price tends to reverse, i.e. overbought/oversold conditions.. or patterns and BOs, and if you trade that horizontal line in that situations you are making real money. (MO please tell me if I'm wrong)

I think that there is no secret.. I don't want to believe that some secret exists!
How many "Doji zones" have you watched? 1000+?
(Notice that here I'm talking about US, my situation is = yours)
Your eye falls on tops and bottoms, where everything is magic! Then you trade live and doubts arises because we don't know if it's a top or a bottom.. logically.

WHO KNOWS?

We take a loss? We can reverse! Just try the next time!
Our GBPJPY trade was right, direction was right..
it's always the same thing: you take it and everybody will say "Tell me what you see"!
You loose it and they say "Nice try! Price was going up, didn't see??".
No one can predict price = the only thing we need to learn is discipline, no other.

I think that this is the Truth.

[Mira]

Bollonger Bands 20,2

A candle touch the BB (the most recent highest/lowest) then you start looking for a zone.
The only one entry that gave some problem was the one pointed by the red arrow but the reversal worked very well!

IMG_0469.PNG (74.26 KiB) Viewed 3527 times

Price "broke" again upwards but, since this is a reversal, the stop is at the pivot ABOVE the zone and no other reversal are taken.

(From here)

Hi guys, im in Chicago today and tomorrow so I cant post charts.
I would have taken that long...and then reversed.
Your comment about 3 reversals... I dont see that. Once you enter and are wrong, look for Momentum breaking Momentum on the reversal and then enter.
On a reversal your stop now becomes the high of the initial entry...not the momentum zone. By doing this you almost eliminate all 3x reversals.
The longer I trade this simple setup the more experience sets in and makes it more difficult to explain my thought process. Because I trust the stats on the reversals, no I dont wait for a pullback.. if the range is that big where its making you question it, then skip it...

doji

Ps. Looking at single timeframe Doji told us to wait for a candle to approach at the zone with a CLOSE (WD or BO), I'm not considering this part but it raises the odds.

[MightyOne]

Looking better.. MO, do you think that this could be a clear view? Or that I could do better?
Thank you!

What does this picture mean to you?

[Mira]

Looking better.. MO, do you think that this could be a clear view? Or that I could do better?
Thank you!

What does this picture mean to you?

Mmm.. price wicking (closing below)?