Eventually you will get ot a point where scalping for x amount of pips a day is easy. An you will think to yourself Im gonna only close half a position and let the other half try and move even more. And worse yet your gonna move your sl to BE.
STOP. DONT DO IT. TAKE YOUR PIPS AND RUN. Unless your sl is setting beyond an area on the HTF chart your trying to move across. But V8 sometimes price just moves an extra 10-xxx amount of pips on the 5min chart no problem.
Yup and someone wins the lottery every week. That's called luck. You can and will do better. Its easy to do and you can do it 2 ways. Top down or bottom up. The easy way is If you take a trade on a 5m chart and want to hold just keep clicking up timeframes and see if your sl is beyond "something". Or u can mark area's of interest on HTF charts and watch what price does when it gets there and click down timeframes till you get a trade setup and entry that puts you sl beyond the HTF "something.
Like so.
We start with a weekly mbar that closes over something (momo was meant to be traded on Do What Matter charts) confluence reason 1 (HTF). Then we have a daily with either a double bottom/retest of neckline (chart pattern) or momo that closes over something. More confluence. Then you get your setup on the 5m chart. You place your entry and sl order and as you click up the charts you have multiple reasons for the trade (strength) and a sl beyond a weekly+ extreme (super king kong strong).
Lucky cherry picked chart V8. Hum well I guessed none of these doji boxes would have offered a trade then either.
How to be a MOnster
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Re: How to be a MOnster
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Re: How to be a MOnster
Flipping perfect. This article is almost the same exact thing that happened to you on the UJ trade.
Look at are chart now.
Larger trend and showing energy points (where median lines meet).
Look at are chart now.
Larger trend and showing energy points (where median lines meet).
Re: How to be a MOnster
A live in the moment, called ahead of time yearly extreme trade using a lower timeframe. See. Its is possible. It is easy. It might win. It might lose. But if you enter the trade as a scalp and want to hold for more then 20 pips, now is the time cua your sl should be above a HTF something.
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Re: How to be a MOnster
Last one. I have posted around a half dozen HTF charts and how to trade them (AND IN ADVANCE SO NO CHERRY PICKING). Its the same over and over.
Re: How to be a MOnster
But how do you know price will retrace? Well did you look left. Oh look at that beautiful daily candle whose 50 zone goes runs right at the top of a wickdoll.
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Re: How to be a MOnster
v8power wrote:But how do you know price will retrace? Well did you look left. Oh look at that beautiful daily candle whose 50 zone goes runs right at the top of a wickdoll.
Look at that. Here is the reversal trade setup. To easy
Re: How to be a MOnster
v8power wrote:Yellow lines are my "something line". Purple is the up trend line. Black box is area were horz lines intersect angles. Red lines were drawn at 15 and I cut through a hook the placed its opposite nwhich offered confluene with the black box.
Price is currently at a support and trend line. Good chance it will bounce up, find resistance and then sell off again.
EA setup. Plus rectangle on 1hr (confluence).
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Re: How to be a MOnster
v8power wrote:Mira wrote:MightyOne wrote:
When it's time to move it's time to move
You can make arguments for long trades but there is not much that you can point to as a reason for holding long.
for_you.png
Thank you MO!
Why not? Price was closing higher, there was a 1-2-3 and a smaller 1-2-3 pushing from the middle and the downtrend was broken.
I would have took profits anyway at that tops, but didn't price give the idea that it was raising?
IMG_0896.PNG
The short answer was it was a head fake. Big boys ran price up so they could continue down. Remember it takes billions of dollars to get these big moves. So when price has already moved a good distance then it need billions more to keep moving. But the big boys don't sell at the low, but at the high with there stops above resistance (hum who says place you stops at 2 day xtremes ).
Re: How to be a MOnster
There ya go folks. 4 real time trades all taken at an area marked yesterday. Goona be an easy 100+ pip day.
Re: How to be a MOnster
v8power wrote:A live in the moment, called ahead of time yearly extreme trade using a lower timeframe. See. Its is possible. It is easy. It might win. It might lose. But if you enter the trade as a scalp and want to hold for more then 20 pips, now is the time cua your sl should be above a HTF something.
Whoops almost forgot 1. Cant forget AJ for my boy pro.
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