How to be a MOnster

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Mira
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Attempts to create a Trading Plan - 3

Postby Mira » Thu May 03, 2018 10:02 pm

A) Continuation trades:

Price needs to close over the #2 point with MOMO, then i'd tune the SL to the #3 pivot and take a trade in direction of profit from point #2 to a 1:1 or opposite BO (if with colour).

B) Cheats:

- If the zone is too large skip it or trade it on a smaller chart period
- If there is there are two facing zones consider if there is enough space to go

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tom7ak
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Re: How to be a MOnster

Postby tom7ak » Fri May 04, 2018 9:41 pm

Great stuff Mira, thanks for sharing.

It looks like you did put a lot of work and thought into it.
x it looks quite complex; will u be able to follow it on live trades?
xx how would u describe in ONE SENTENCE what u do? eg i am (working on) post momentum trading; trading its midpoint
xxx have u got ur own definition of momentum; can u consistently mark its beginning and end?
xxxx is Red Mo different from Blue Mo; do one trADE THEM THE SAME WAY?

5 ERRORS and counting.

By the way i managed to zero my account once again this week:)
Good luck and thank u

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Mira
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Re: How to be a MOnster

Postby Mira » Fri May 04, 2018 10:57 pm

tom7ak wrote:Great stuff Mira, thanks for sharing.

It looks like you did put a lot of work and thought into it.
x it looks quite complex; will u be able to follow it on live trades?
xx how would u describe in ONE SENTENCE what u do? eg i am (working on) post momentum trading; trading its midpoint
xxx have u got ur own definition of momentum; can u consistently mark its beginning and end?
xxxx is Red Mo different from Blue Mo; do one trADE THEM THE SAME WAY?

5 ERRORS and counting.

By the way i managed to zero my account once again this week:)
Good luck and thank u


Hi Tom! Thanks for the reply! :D

I know that it looks complex but it’s really simple in my mind..
Then there are a few adds on but they are just “adds on” :lol:

Using a D1 timeframe it’s pretty simple to trade it, at the end of the day I’m just taking a Doji Zone on a single chart period. You have 24h to take your trade decison.
(working with two timeframes it’s even more easy, but first you need to master one single timeframe as Doji said).

About Momenutm I took exactly the definition from DojiRock: a close over the previous extreme.
Nothing more.

The only problem that i found with this system is that the Daily offers a setup like this rarely, but H4 or H1 can do give the same returns. Just watch it and tell me if it doesn’t work!
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Mira
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Re: How to be a MOnster

Postby Mira » Sat May 05, 2018 10:34 am

Nice example of a Standard Entry on DAX D1.

38F84EBA-DEAE-454E-95D4-47670A6E8F2E.png
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LeMercenaire
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Re: How to be a MOnster

Postby LeMercenaire » Sun May 06, 2018 8:06 pm

Mira wrote:Nice example of a Standard Entry on DAX D1.

38F84EBA-DEAE-454E-95D4-47670A6E8F2E.png

I don't know how familiar you are with the DAX but if not - and especially if you are playing the Daily - then you will have to get used to seeing major moves back and forth through the day, often massive in terms of cash.

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Re: How to be a MOnster

Postby tom7ak » Tue May 08, 2018 5:54 pm

JPYusdH4.png
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tom7ak
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Re: How to be a MOnster

Postby tom7ak » Tue May 08, 2018 7:18 pm

Momentum is a vector; mass x velocity.

It is also relative, meaning - there has to be a reference point it is measured against; e.g. momentum of a car equals ``0`` if looking from a point of view of a driver; no matter the mass or velocity.

are you on a train or a station?

(it is not necessarily a side note to a chart above)

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Mira
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Re: How to be a MOnster

Postby Mira » Thu May 10, 2018 6:15 pm

Guys, using the daily to draw the zone and H1 to trade away from it (with D1 colour) is the bomb!
I'm amost ready to come back and trading. 8)
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Re: How to be a MOnster

Postby Mira » Mon May 14, 2018 9:45 pm

D1 zone

EG_D1.png
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On H1 appears a smaller zone away from the bigger one (D1), I trade it with the same rules

EG_H1.png
EG_H1.png (40.98 KiB) Viewed 535 times


IF the current D1 bar closes below the previous low i'd have a french kiss pattern, thus i would trade it from the 50% of the momo and hold it for three consecutive bars in direction of profit (IDP) or for one big bar IDP or to an opposite BO.


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Re: Line Break Charts

Postby Leoheart » Thu May 31, 2018 3:01 am

IgazI wrote:You can come to the same conclusions using simple charts.

LineBreak.png



Unconscious Bias: Its unbelievable how quick I am to form judgements, and much slower in accepting the truth (Its good to see you around these parts great friend ).

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