How to be a MOnster

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Mira
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Re: How to be a MOnster

Postby Mira » Sun Nov 11, 2018 10:15 pm

Hi to everybody :D

I'm sorry for my absence but i was focusing on how the price moves and updating the trading plan, then i got sick :x
The weather is going crazy all around the world :shock:

However.. the study of the trend helped me very much this week.
I'm having less problems at giving a bias to the patterns, in this way i brought my account at +16% in the third week (ok you're laughing hard now, me too lol. However it's good for one that always had red Real-Accounts)
__________ THE :smt096 IS A LIE__________

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LeMercenaire
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Re: How to be a MOnster

Postby LeMercenaire » Mon Nov 12, 2018 7:56 pm

Mira wrote:Hi to everybody :D

I'm sorry for my absence but i was focusing on how the price moves and updating the trading plan, then i got sick :x
The weather is going crazy all around the world :shock:

However.. the study of the trend helped me very much this week.
I'm having less problems at giving a bias to the patterns, in this way i brought my account at +16% in the third week (ok you're laughing hard now, me too lol. However it's good for one that always had red Real-Accounts)


Welcome back, Mira. Hope you feel better.

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Re: How to be a MOnster

Postby Mira » Tue Nov 13, 2018 8:22 am

LeMercenaire wrote:
Mira wrote:Hi to everybody :D

I'm sorry for my absence but i was focusing on how the price moves and updating the trading plan, then i got sick :x
The weather is going crazy all around the world :shock:

However.. the study of the trend helped me very much this week.
I'm having less problems at giving a bias to the patterns, in this way i brought my account at +16% in the third week (ok you're laughing hard now, me too lol. However it's good for one that always had red Real-Accounts)


Welcome back, Mira. Hope you feel better.


Thank you Lem!
Well, I’m still sick.. however I’m fighting to feel better :lol:

During the day I’m going to post some of my advances and some of my doubts too, things are looking different now :shock:
__________ THE :smt096 IS A LIE__________

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LeMercenaire
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Re: How to be a MOnster

Postby LeMercenaire » Tue Nov 13, 2018 9:06 am

Mira wrote:
LeMercenaire wrote:
Mira wrote:Hi to everybody :D

I'm sorry for my absence but i was focusing on how the price moves and updating the trading plan, then i got sick :x
The weather is going crazy all around the world :shock:

However.. the study of the trend helped me very much this week.
I'm having less problems at giving a bias to the patterns, in this way i brought my account at +16% in the third week (ok you're laughing hard now, me too lol. However it's good for one that always had red Real-Accounts)


Welcome back, Mira. Hope you feel better.


Thank you Lem!
Well, I’m still sick.. however I’m fighting to feel better :lol:

During the day I’m going to post some of my advances and some of my doubts too, things are looking different now
:shock:


Good stuff. We're all in your corner.

Looking forward to your new insights. I too have been ringing the changes as enforced by life ''stuff'' keeping me away from the screens at any given time at the moment. As such, I have pared things right back to the basics.

Running a 50% Pullback line on the M1 charts and scalping off that. Got my +5% (and-a-bit) off The DAX this morning and that's what I am aiming to do as often as I can get to sit down and trade.

Anyway, you do what you need to do and get yourself back fit and well.

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Re: How to be a MOnster

Postby Mira » Tue Nov 13, 2018 1:59 pm

Thank you Lem!
I'm trying to do the same, back to simplicity :D

After a time on the web reading about HH/LL i finally accepted that if price broke below a line then it's going down lol.
If i understood right (please guys share your view and correct me if i'm wrong) now we could have different situations but usually two or three important levels will appear:

- the breakout line
- the midpoint (eventually)
- the zero line or origin of momentum

NZDCHFDaily.png
NZDCHFDaily.png (43.71 KiB) Viewed 157 times


The "problem" is that the more price retraces the bigger the risk that price is closing back over important lines.
In this case a short position became weaker and weaker as price closed past the BO lines (the lower one was a higher high and a 2yr extreme.. :roll: )

NZDCHFDaily2.png
NZDCHFDaily2.png (44.36 KiB) Viewed 157 times
__________ THE :smt096 IS A LIE__________

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Re: How to be a MOnster

Postby LeMercenaire » Tue Nov 13, 2018 2:11 pm

Mira wrote:Thank you Lem!
I'm trying to do the same, back to simplicity :D

After a time on the web reading about HH/LL i finally accepted that if price broke below a line then it's going down lol.
If i understood right (please guys share your view and correct me if i'm wrong) now we could have different situations but usually two or three important levels will appear:

- the breakout line
- the midpoint (eventually)
- the zero line or origin of momentum

NZDCHFDaily.png

The "problem" is that the more price retraces the bigger the risk that price is closing back over important lines.
In this case a short position became weaker and weaker as price closed past the BO lines (the lower one was a higher high and a 2yr extreme.
. :roll: )

NZDCHFDaily2.png


For me, on the bottom chart, as soon as I saw that move marked as ''BO Line'' (The lower one), then that would be me looking to get out of any short...orrrrrrr, hedging back into that move until I was sure it wasn't going to turn, then cutting the short and letting the hedge run).

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Re: How to be a MOnster

Postby Mira » Tue Nov 13, 2018 2:35 pm

LeMercenaire wrote:
Mira wrote:Thank you Lem!
I'm trying to do the same, back to simplicity :D

After a time on the web reading about HH/LL i finally accepted that if price broke below a line then it's going down lol.
If i understood right (please guys share your view and correct me if i'm wrong) now we could have different situations but usually two or three important levels will appear:

- the breakout line
- the midpoint (eventually)
- the zero line or origin of momentum

NZDCHFDaily.png

The "problem" is that the more price retraces the bigger the risk that price is closing back over important lines.
In this case a short position became weaker and weaker as price closed past the BO lines (the lower one was a higher high and a 2yr extreme.
. :roll: )

NZDCHFDaily2.png


For me, on the bottom chart, as soon as I saw that move marked as ''BO Line'' (The lower one), then that would be me looking to get out of any short...orrrrrrr, hedging back into that move until I was sure it wasn't going to turn, then cutting the short and letting the hedge run).


It's very nice seeing that you're confirming my thoughts, thanks LeM :D
Do you think that is there a level more powerful than an other? Or that it's just random?
Price holding above the rally's midpoint looks like it's confirming a strong trend, however the origin of the momentum offers monster-entries sometimes :shock:

It's also true that sometimes stuff like this happens. I've been in last night, entered in the circle and didn't considered the opposite failed BO (the yellow line called breakout 1).
Considering that i went in on a 15m pattern, my entry was even higher than the H1 zone. Price closed back so i had to kill the trade, then this morning, i woke up and saw this.... lol.

USDJPYH1.png
USDJPYH1.png (47.77 KiB) Viewed 150 times
__________ THE :smt096 IS A LIE__________

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Re: How to be a MOnster

Postby LeMercenaire » Tue Nov 13, 2018 4:53 pm

Mira wrote:
LeMercenaire wrote:
Mira wrote:Thank you Lem!
I'm trying to do the same, back to simplicity :D

After a time on the web reading about HH/LL i finally accepted that if price broke below a line then it's going down lol.
If i understood right (please guys share your view and correct me if i'm wrong) now we could have different situations but usually two or three important levels will appear:

- the breakout line
- the midpoint (eventually)
- the zero line or origin of momentum

NZDCHFDaily.png

The "problem" is that the more price retraces the bigger the risk that price is closing back over important lines.
In this case a short position became weaker and weaker as price closed past the BO lines (the lower one was a higher high and a 2yr extreme.
. :roll: )

NZDCHFDaily2.png


For me, on the bottom chart, as soon as I saw that move marked as ''BO Line'' (The lower one), then that would be me looking to get out of any short...orrrrrrr, hedging back into that move until I was sure it wasn't going to turn, then cutting the short and letting the hedge run).


It's very nice seeing that you're confirming my thoughts, thanks LeM :D
Do you think that is there a level more powerful than an other? Or that it's just random?
Price holding above the rally's midpoint looks like it's confirming a strong trend, however the origin of the momentum offers monster-entries sometimes :shock:

It's also true that sometimes stuff like this happens. I've been in last night, entered in the circle and didn't considered the opposite failed BO (the yellow line called breakout 1).
Considering that i went in on a 15m pattern, my entry was even higher than the H1 zone. Price closed back so i had to kill the trade, then this morning, i woke up and saw this.... lol.

USDJPYH1.png


I wouldn't say that any level was stronger than the other but at the same time, I don't know if I could consider them random either.

My decisions would be taken based on the local Supply + Demand information, so I normally wouldn't play just the line. Having said that, on the m1 set ups I am running just now, all I am using on top of pa is a trend direction.

Tempering THAT however, is the fact that as I am going in hot-and-heavy and can be done in one trade, I don't need much more on top of that. Using S+D from the higher tf instead, will inform my base entry criteria.

Hope that doesn't sound like I am contradicting myself too much on that.

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Re: How to be a MOnster

Postby Mira » Tue Nov 13, 2018 6:42 pm

LeMercenaire wrote:
Mira wrote:
LeMercenaire wrote:
For me, on the bottom chart, as soon as I saw that move marked as ''BO Line'' (The lower one), then that would be me looking to get out of any short...orrrrrrr, hedging back into that move until I was sure it wasn't going to turn, then cutting the short and letting the hedge run).


It's very nice seeing that you're confirming my thoughts, thanks LeM :D
Do you think that is there a level more powerful than an other? Or that it's just random?
Price holding above the rally's midpoint looks like it's confirming a strong trend, however the origin of the momentum offers monster-entries sometimes :shock:

It's also true that sometimes stuff like this happens. I've been in last night, entered in the circle and didn't considered the opposite failed BO (the yellow line called breakout 1).
Considering that i went in on a 15m pattern, my entry was even higher than the H1 zone. Price closed back so i had to kill the trade, then this morning, i woke up and saw this.... lol.

USDJPYH1.png


I wouldn't say that any level was stronger than the other but at the same time, I don't know if I could consider them random either.

My decisions would be taken based on the local Supply + Demand information, so I normally wouldn't play just the line. Having said that, on the m1 set ups I am running just now, all I am using on top of pa is a trend direction.

Tempering THAT however, is the fact that as I am going in hot-and-heavy and can be done in one trade, I don't need much more on top of that. Using S+D from the higher tf instead, will inform my base entry criteria.

Hope that doesn't sound like I am contradicting myself too much on that.


Mmm I'm trying to get an idea lol
So you are not using (not actively) the HH/LL information to trade?
The HTF SD gives you the bias and then you trade with size the M1, am I grasping it?
__________ THE :smt096 IS A LIE__________

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LeMercenaire
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Re: How to be a MOnster

Postby LeMercenaire » Wed Nov 14, 2018 12:12 am

Mira wrote:
LeMercenaire wrote:
Mira wrote:
It's very nice seeing that you're confirming my thoughts, thanks LeM :D
Do you think that is there a level more powerful than an other? Or that it's just random?
Price holding above the rally's midpoint looks like it's confirming a strong trend, however the origin of the momentum offers monster-entries sometimes :shock:

It's also true that sometimes stuff like this happens. I've been in last night, entered in the circle and didn't considered the opposite failed BO (the yellow line called breakout 1).
Considering that i went in on a 15m pattern, my entry was even higher than the H1 zone. Price closed back so i had to kill the trade, then this morning, i woke up and saw this.... lol.

USDJPYH1.png


I wouldn't say that any level was stronger than the other but at the same time, I don't know if I could consider them random either.

My decisions would be taken based on the local Supply + Demand information, so I normally wouldn't play just the line. Having said that, on the m1 set ups I am running just now, all I am using on top of pa is a trend direction.

Tempering THAT however, is the fact that as I am going in hot-and-heavy and can be done in one trade, I don't need much more on top of that. Using S+D from the higher tf instead, will inform my base entry criteria.

Hope that doesn't sound like I am contradicting myself too much on that.


Mmm I'm trying to get an idea lol
So you are not using (not actively) the HH/LL information to trade?
The HTF SD gives you the bias and then you trade with size the M1, am I grasping it?


Pretty much, yep. Directional bias needs to be established first.

PA can contradict that bias and still be effective, however if it runs in the direction of the bias, it's likely that it will bring a bigger bag than the same PA going against the bias.

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