How to be a MOnster

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aliassmith
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Re: How to be a MOnster

Postby aliassmith » Tue Jun 25, 2019 4:52 pm

aliassmith wrote:
Mira wrote:I made one month or a bit more floating around break even, i'm shy of posting today's charts.. totally nonsense. RED.

I don't know what to say, very frustrating. I love trading but trading doesn't love me.


EURJPYM5.png

USDCADM5.png


You have SEMA on your chart. Trade AWAY from the #3
Not an Hour after the #3 but look for PA soon after for confluence soon after
you can probably get 30+ pips per trade and lose less than 10 on average

Scalping the 5m charts is tough, swinging them might be easier.


Trades away from the #3 SEMA
Risk under 10 pips
Reward 3R
There was a #3 SEMA where that red X is and it was a loss.
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Mira
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Re: How to be a MOnster

Postby Mira » Tue Jun 25, 2019 5:03 pm

aliassmith wrote:
Mira wrote:I made one month or a bit more floating around break even, i'm shy of posting today's charts.. totally nonsense. RED.

I don't know what to say, very frustrating. I love trading but trading doesn't love me.


EURJPYM5.png

USDCADM5.png


You have SEMA on your chart. Trade AWAY from the #3
Not an Hour after the #3 but look for PA soon after for confluence soon after
you can probably get 30+ pips per trade and lose less than 10 on average

Scalping the 5m charts is tough, swinging them might be easier.


Thanks Alias

Yes, I should stay away from reverse trades for now and stick to one direction only (away from sema).
I noticed that I haven’t a clear idea of how to do it so: no plan, no trade.

Then I should say that I added H1 zlines at the plan because when price moves it MOVES :shock:
However when it starts to close back, then back again and so on using three time frames, well, I fall in the analysis paralysis mode. Too confusing for now.
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aliassmith
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Re: How to be a MOnster

Postby aliassmith » Tue Jun 25, 2019 6:53 pm

traded away from the #3
I took about 10 pips because I was falling asleep watching the trade.
Right after I closed it, it reversed.
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Sandra
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Re: How to be a MOnster

Postby Sandra » Tue Jun 25, 2019 8:03 pm

Mira,

Try to get a bias, then watch price action on the 5 min...
Master bias chart reading before trading the 5 min time frame.....
Zlines/dojizones are off.

S
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Re: How to be a MOnster

Postby Sandra » Tue Jun 25, 2019 8:07 pm

S
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Re: How to be a MOnster

Postby aliassmith » Tue Jun 25, 2019 8:22 pm

Sandra wrote:S


Yep that works.
Trade away from a bias (#3 SEMA) since its on your (Mira) chart.
Get rid of the MA
Use 5M bars as entry
There was about 60 pips available in that 7 hours.
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Re: How to be a MOnster

Postby Mira » Wed Jun 26, 2019 10:09 am

EURUSDM1.png
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Re: How to be a MOnster

Postby aliassmith » Wed Jun 26, 2019 12:46 pm

Mira wrote:EURUSDM1.png


I think trading 1M chart on EUR/USD is suicidal.
Also you wasn't trading the right direction
The last #3 was at the bottom so your bias
Would be long until that new #3 showed up
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Jalarupa
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into the week...

Postby Jalarupa » Wed Jun 26, 2019 7:22 pm

Haven't posted in forever and I genuinely miss the traders here... so I just want to share what still works for me in terms of what I have been exposed to in this wonderful community.

I did this analysis on Sunday evening pre market open...

Image

GBPUSD - basically 'could' have relied completely on the horizontal Zline, but I favor trying to figure areas where price will run into trouble prior to the move and trade that volatility into and out of the 'main' move... / Long term Bias is above or below the red triangles

Image

First trade long into the highs... basically a scalp for 20 pips

Next I took a short off return to the Zline EURNZD (had been keen to short this pair for a while now, but had been waiting for MOMO - which eventually came last week)

Image

Wasn't keen to hold it for the NZ rates event this morning...

Yesterday it was back to the GU for me and I got my entry as planned pre market open... always nice to see a '*censored - swear word*' candle in thin liquidity... stopped on the zline and reverted with haste...

Image

Holding out for a move lower into red 'buyzone'

Had some fun with this one (also did analysis pre-market open)

Image

and much to my surprise... THAT mess... became this... which I posted to my slack trading channel while I pondered the merits of a long off this level (it was a grueling internal conversation to be honest, because its not in my trading plan to take such risky trades without MOMO)

Image

I caved went long and got lucky trading the spike up yesterday with the move up in USDCHF following the sell off in risk assets during EUR session... Got out when I thought USDCHF had peaked, cause Cable was selling off in my mind...

Image

I continue to watch this pair for a way to play a long term trade on an appreciating GBP with positive carry... will wait for my definitive MOMO and Zline return before I get overly excited about the prospect... There is still the daunting prospect that the market will call the FED's bluff and they do not cut rates by 50bps in July and the CHF will appreciate brutally off of that event and looking at the USDCHF, there is still a lot of room to fall if the that happens... so I'm super cautious whilst keeping a longer term constructive view on GBPCHF

Besides this... I'm currently watching NZDUSD which is looking likt it may be topping...

I know I don't post much anymore, but I appreciate the fact that there are traders here, who have been here before I showed up and are still as active as ever... Taking the next generation of dreamers along with them by inspiring and mentoring as they have been inspired... You guys are the real deal and I salute you!

Image
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Mira
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Re: How to be a MOnster

Postby Mira » Wed Jun 26, 2019 9:33 pm

Thanks Alias, Sandra & Jala.
Your help is really appreciated [-o<

Today i ended with some pip!

With sema

AUDUSDM5.png
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This one was against the most recent sema.
However the zone made a weak broke below the moving average, it was inside the 50% of the bullish momo (15 MIN) and the long setup was perfectly intact.. i remember so many losses that i took shorting the same pattern in my life :lol:
Considering both the zones/zlines/patterns etc. like i did today is something that i tend to skip #-o

NZDUSDM5.png
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