How to be a MOnster

[v8power]

Ok, I lied. Were gonna look at some HTF charts. But that's just to show how you take a day trade and turn it into a DWM trades. Your gonna love the charts I post tomorrow.

Taking SIZE for a ride is one of the fundamental tenets of making money.
I can't tell you how many times I've said "had I only looked at the H4/D/W/M..."

Short-term, if your entry area looks like a used coloring book then you should rethink your entry.
If you are going to trade from the middle then decide which way you are going and enter on the silver line;
same thing with trading away from an open price, wait for price to move in the opposite direction of your bias
and then use the open price as a trigger with x number of lines as a stop loss.

If you were just looking at the M15 then you had no idea when price would continue to decline but had you looked at the
H4 then there were a few clues.

USDJPYM15.png

"Taking SIZE for a ride is one of the fundamental tenets of making money."

Your telling me. But if you use multiple positions and break up those positions into parts of a position, then its not to hard to trade hundred and even thousands of lots for hundreds or even thousands of pips.

I like these price levels you are talking about now.

On the 15m charts I just marked off the ledge formations (marked by the small boxes), a fake out with a close under/over line, then the whole price movement was just a rectangle. Looking at the 1hr chart you can see a pin bar/wick doll you can enter at the top of the rectangle for min risk and max gains and then after the break out of the ledge. Then if you scroll left you can see where you profit taking area is.

All cuz of u. Eventually on to futures, then options. 9 zeros or broke.

[Mira]

Early chart

IMG_1200.PNG

Explain what you see and how you might trade it.

I placed the fibo on the most recent momo, it's bullish and it's a large candle so I think it's a take profit area. I suck in predictions but I'm going to look around the 75% RET to see if price stops and reverses.
Then I have drawn two channels with 15* lines to see some confluence (they are there just to see what happens around that lines, I'm not going to take decisions bases on angles until I don't fully SEE).
MAX TP would be at the 25% RET because on H4 price is at a 50% of a bearish momo.. {may I could short again from that level?}

[v8power]

Here ya go Mira and whoever else wants it. MM, stacking, PA and how to place stops at extremes for big chart gains.

The 1st chart is a 15m chart showing how to use very little risk on your 1st entry into a position and the type of PA I look for when adding/stacking. Then 1hr chart just shows and gives us strength to hold for longer then 20 pips.

gbpusd-m15-oanda-division1.png (64.71 KiB) Viewed 3149 times

gbpusd-h1-oanda-division1.png (32.37 KiB) Viewed 3149 times

Next is my "story" for possible price movement this week on GU. I already have to possible limit entries, another on the break of the measuring bar, a retest of the triple bottom neckline, a TTE if the 123 shows, a retest of the 2 point if it forms. That's 6 possible entries already called before PA happens so people can suck it when the say its after the fact. Also we have a place to hedge at. I also show how I'm looking and thinking about trying to hold for the long term. Its all here. Maybe it will happen, maybe it wont.

gbpusd-h1-oanda-division1-2.png (38.93 KiB) Viewed 3149 times

gbpusd-h4-oanda-division1.png (55.94 KiB) Viewed 3149 times

gbpusd-h4-oanda-division1-2.png (45.06 KiB) Viewed 3149 times

gbpusd-d1-fx-choice-limited-2.png (44.8 KiB) Viewed 3149 times

gbpusd-w1-oanda-division1.png (35.53 KiB) Viewed 3149 times

gbpusd-w1-oanda-division1-2.png (37.43 KiB) Viewed 3149 times

[prochargedmopar]

You ready to start are little challenge together on Monday? I'll be trading GU and EJ during US open looking at 15m and 1hr charts only. How about you.

Thanks V8!

I'm ready! NY open is around 15:00 here so it's ok to me.
So charts bigger than H1 are excluded?

You can trade at whatever time suits you best, but that's the time Im gonna use. Even if we cant trade on days we can still do mark ups after the fact. Bigger charts wont be excluded but my goal is for me to take an idea and learn it, understand it the way its being taught and then break it down into super simple terms.

Bigger charts wont be excluded, but they will be more of an "after idea" of how to add value to the trade. I don't want to start with to many moving parts in the beginning. Start simple and slowly add.

I said I didn't read other threads as of late but I had a feeling after some of your posts you were back in action on kreslik.
Just read the last 4 pages of this thread and will be watching.
What's the challenge?

[Mira]

Here ya go Mira and whoever else wants it. MM, stacking, PA and how to place stops at extremes for big chart gains.

The 1st chart is a 15m chart showing how to use very little risk on your 1st entry into a position and the type of PA I look for when adding/stacking. Then 1hr chart just shows and gives us strength to hold for longer then 20 pips.

gbpusd-m15-oanda-division1.png
gbpusd-h1-oanda-division1.png

Next is my "story" for possible price movement this week on GU. I already have to possible limit entries, another on the break of the measuring bar, a retest of the triple bottom neckline, a TTE if the 123 shows, a retest of the 2 point if it forms. That's 6 possible entries already called before PA happens so people can suck it when the say its after the fact. Also we have a place to hedge at. I also show how I'm looking and thinking about trying to hold for the long term. Its all here. Maybe it will happen, maybe it wont.

gbpusd-h1-oanda-division1-2.pnggbpusd-h4-oanda-division1.pnggbpusd-h4-oanda-division1-2.pnggbpusd-d1-fx-choice-limited-2.pnggbpusd-w1-oanda-division1.pnggbpusd-w1-oanda-division1-2.png

I am studying this post because it's very well done, thank you much V8!
There is a 'value' around a trade and it's about position (of the stop loss).

I'll be back trading from tomorrow, today is a grill day

Thanks for sharing all the process that you follow when you're trading, this helps so much.

[Mira]

Early chart

IMG_1200.PNG

Explain what you see and how you might trade it.

I placed the fibo on the most recent momo, it's bullish and it's a large candle so I think it's a take profit area. I suck in predictions but I'm going to look around the 75% RET to see if price stops and reverses.
Then I have drawn two channels with 15* lines to see some confluence (they are there just to see what happens around that lines, I'm not going to take decisions bases on angles until I don't fully SEE).
MAX TP would be at the 25% RET because on H4 price is at a 50% of a bearish momo.. {may I could short again from that level?}

It did it

Price bounced on 75% RET to reach the top of the momo again (25% RET), finally it felt down based on bigger timeframes.
Angles didn't work as H lines btw..

IMG_1219.PNG (70.9 KiB) Viewed 3099 times

[MightyOne]

Very nice examples are price stopping before the actual price level.

If I were going to use the data from across the 'V' then I would size the position to the H4 where as if I were going to short
from the higher close at the last orange arrow then I would use H1 position sizing.

I know for certain that my money is for losing and OPM is for winning; I'll take my money out, it is good for nothing

for_you.png (111.68 KiB) Viewed 3072 times

[Mira]

Very nice examples are price stopping before the actual price level.

If I were going to use the data from across the 'V' then I would size the position to the H4 where as if I were going to short
from the higher close at the last orange arrow then I would use H1 position sizing.

I know for certain that my money is for losing and OPM is for winning; I'll take my money out, it is good for nothing

for_you.png

Thanks MO
I didn't get what you're saying about position sizing

but i'm getting more familiar with price lelvels

Closes 1.png (5.06 KiB) Viewed 3042 times

Closes H4.png (7.32 KiB) Viewed 3042 times

[v8power]

Here ya go Mira and whoever else wants it. MM, stacking, PA and how to place stops at extremes for big chart gains.

The 1st chart is a 15m chart showing how to use very little risk on your 1st entry into a position and the type of PA I look for when adding/stacking. Then 1hr chart just shows and gives us strength to hold for longer then 20 pips.

gbpusd-m15-oanda-division1.png
gbpusd-h1-oanda-division1.png

Next is my "story" for possible price movement this week on GU. I already have to possible limit entries, another on the break of the measuring bar, a retest of the triple bottom neckline, a TTE if the 123 shows, a retest of the 2 point if it forms. That's 6 possible entries already called before PA happens so people can suck it when the say its after the fact. Also we have a place to hedge at. I also show how I'm looking and thinking about trying to hold for the long term. Its all here. Maybe it will happen, maybe it wont.

gbpusd-h1-oanda-division1-2.pnggbpusd-h4-oanda-division1.pnggbpusd-h4-oanda-division1-2.pnggbpusd-d1-fx-choice-limited-2.pnggbpusd-w1-oanda-division1.pnggbpusd-w1-oanda-division1-2.png

Look how price broke out perfectly on the 29 bar (MO talks about measuring bars somewhere in the NLA thread, I think around p 350 not sure tho). Even tho I wanted a long trade for my HTF position, this gave me a good place to hedge and will use the crash and h4/D charts to pick my exit. Price still hasn't closed below my something line to give up my long positons.

[v8power]

Thanks V8!

I'm ready! NY open is around 15:00 here so it's ok to me.
So charts bigger than H1 are excluded?

You can trade at whatever time suits you best, but that's the time Im gonna use. Even if we cant trade on days we can still do mark ups after the fact. Bigger charts wont be excluded but my goal is for me to take an idea and learn it, understand it the way its being taught and then break it down into super simple terms.

Bigger charts wont be excluded, but they will be more of an "after idea" of how to add value to the trade. I don't want to start with to many moving parts in the beginning. Start simple and slowly add.

I said I didn't read other threads as of late but I had a feeling after some of your posts you were back in action on kreslik.
Just read the last 4 pages of this thread and will be watching.
What's the challenge?

The challenge originally was just gonna be me and Mira trading doji method. But I think now I will do that, but also journal how I take an idea, make it mine and add it to my trading. It will be about a 3 month process, starting with the most basic idea's presented by doji, making sure Im following those to a t, then slowly add one idea to it making sure I have a full understanding of it and confidence in it so I take the trades when they are presented. Alsoi I will collect stats such as different sl and tp, then towards the end I will intergrate it into my trading style (still documenting it for everyone). Also I will develop a trade plan from scratch so everyone can see how at least I do it. Cuz if your not profitable you ABSOLUTELY NEED A TRADING PLAN. Trading is a business and needs to be traded like one. After all this I will fund a small account and make sure I can at least double it using these methods before adding it to my trading.