How to be a MOnster

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Mira
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Re: How to be a MOnster

Postby Mira » Tue Nov 12, 2019 8:54 am

prochargedmopar wrote:
Mira wrote:
LeMercenaire wrote:
A discretionary target is more useful when scalping, as you are obviously building and adding to a bank quickly. On the H4, then it is less useful or suited. It is like scalping in slow motion.


Thank you LeM

The idea (MightyOne) is building up size using Space/Eights, aiming for a minimum target to add up and then trying to ride a big one when the size is fat.

Now I don’t know what to do in both the situations.. looking for an opposite line or using ATR.. or shading half of the position at the first target or, maybe, using some of that indi (I don’t know them very well, the first I remember is SAR).


To start target only most recent swing H/L of HTF.
Always aim for others stops.
Someone on here said a looooong time ago.
"If you don't know where the buy/sell stops are resting it's probably yours that's going to get hit FIRST."

Or something to that effect.


Thank you PRO
Yes that’s the solution that makes more sense to me.

Do you use any “kill the trade” idea to close a position that looks like is turning back in direction of loss?
I mean a trade that is still between the entry and the target.
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Re: How to be a MOnster

Postby prochargedmopar » Wed Nov 13, 2019 12:08 am

Mira wrote:
prochargedmopar wrote:
Mira wrote:
Thank you LeM

The idea (MightyOne) is building up size using Space/Eights, aiming for a minimum target to add up and then trying to ride a big one when the size is fat.

Now I don’t know what to do in both the situations.. looking for an opposite line or using ATR.. or shading half of the position at the first target or, maybe, using some of that indi (I don’t know them very well, the first I remember is SAR).


To start target only most recent swing H/L of HTF.
Always aim for others stops.
Someone on here said a looooong time ago.
"If you don't know where the buy/sell stops are resting it's probably yours that's going to get hit FIRST."

Or something to that effect.


Thank you PRO
Yes that’s the solution that makes more sense to me.

Do you use any “kill the trade” idea to close a position that looks like is turning back in direction of loss?
I mean a trade that is still between the entry and the target.


Right now I'm not trading.
Just marking up charts daily and following the market from phone at work.
Guess it would be called "paper trading".
I'm on m5 so 10 pip MAX sl.
OR, if market gives a reversal signal I close b/e or small loss and reverses.

In a couple weeks I'll be incorporating HTF like an H1 or h4 chart and ONLY trade off those levels m5.
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Re: How to be a MOnster

Postby prochargedmopar » Wed Nov 13, 2019 12:17 am

Perfect example here.
The green arrow entry was a success because price made a new high.
That's all I'm asking of the market.
If this was an h4 or daily chart that would be a lot of pips.
If I had entered again in the box thinking price was going up (m5) I'd most likely be stopped out or have to reverse at the entry for b/e.

Take note time of day.
What I'm seeing is every day at rollover there is a 10 pip spike.
Who knows what's gonna happen next. Not me.

5E6A09DC-D12A-4537-82F6-BAC1F1B3F8D8.png
5E6A09DC-D12A-4537-82F6-BAC1F1B3F8D8.png (245.28 KiB) Viewed 354 times
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Re: How to be a MOnster

Postby prochargedmopar » Wed Nov 13, 2019 12:26 am

See,
Even if I had been looking at only H1 as a htf perspective there would be NO buys.
I'm not allowing myself to do that just yet.
Practice practice practice on smaller chart first.

30FF20AA-761F-4367-A105-E9F9358BD03E.png
30FF20AA-761F-4367-A105-E9F9358BD03E.png (223.92 KiB) Viewed 352 times
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Re: How to be a MOnster

Postby Jhx » Wed Nov 13, 2019 2:25 pm

Mira wrote:
prochargedmopar wrote:
Mira wrote:
Thank you LeM

The idea (MightyOne) is building up size using Space/Eights, aiming for a minimum target to add up and then trying to ride a big one when the size is fat.

Now I don’t know what to do in both the situations.. looking for an opposite line or using ATR.. or shading half of the position at the first target or, maybe, using some of that indi (I don’t know them very well, the first I remember is SAR).


To start target only most recent swing H/L of HTF.
Always aim for others stops.
Someone on here said a looooong time ago.
"If you don't know where the buy/sell stops are resting it's probably yours that's going to get hit FIRST."

Or something to that effect.


Thank you PRO
Yes that’s the solution that makes more sense to me.

Do you use any “kill the trade” idea to close a position that looks like is turning back in direction of loss?
I mean a trade that is still between the entry and the target.

Not that you have to do it like this but it might help you: https://youtu.be/5P-zY6X10M0?t=443

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Re: How to be a MOnster

Postby Mira » Thu Nov 14, 2019 9:02 am

In all this years I thought it was all about zlines but now I know it's all about Momentum. #-o
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Re: How to be a MOnster

Postby LeMercenaire » Thu Nov 14, 2019 9:39 am

[quote="Mira"]In all this years I thought it was all about zlines but now I know it's all about Momentum. #-o[/quote]

Momentum creates Z-Lines.

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Re: How to be a MOnster

Postby Mira » Thu Nov 14, 2019 3:02 pm

LeMercenaire wrote:[quote="Mira"]In all this years I thought it was all about zlines but now I know it's all about Momentum. #-o


Momentum creates Z-Lines.[/quote]

If i only knew it 4 or 5 years ago... lol just kidding :lol:


Chickened out the first trade and gave 8 pips to the market

NZDUSDM15.png
NZDUSDM15.png (58.16 KiB) Viewed 251 times
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Re: How to be a MOnster

Postby aliassmith » Thu Nov 14, 2019 9:37 pm

Mira wrote:
LeMercenaire wrote:[quote="Mira"]In all this years I thought it was all about zlines but now I know it's all about Momentum. #-o


Momentum creates Z-Lines.


If i only knew it 4 or 5 years ago... lol just kidding :lol:


Chickened out the first trade and gave 8 pips to the market

NZDUSDM15.png[/quote]

Well a candle closing above/below the extreme of the previous candle creates a break-out. A break out is where many people enter the market. If many of the people enter the market near that break-out then that is where the zero-line or break even area is.

Momentum can be an indication of how many people/money/orders were interested in that break-out and direction.

Large break-out plus high volume = momentum?
Large break-out plus low volume = low liquidity?

Even small break-out candles can spark a new leg on the chart.

We still need to consider market context to increase our probability.
Trade Your Way as Long as It Makes Money!

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Re: How to be a MOnster

Postby Mira » Thu Nov 14, 2019 9:57 pm

aliassmith wrote:
Mira wrote:
LeMercenaire wrote:
Momentum creates Z-Lines.


If i only knew it 4 or 5 years ago... lol just kidding :lol:


Chickened out the first trade and gave 8 pips to the market

NZDUSDM15.png


Well a candle closing above/below the extreme of the previous candle creates a break-out. A break out is where many people enter the market. If many of the people enter the market near that break-out then that is where the zero-line or break even area is.

Momentum can be an indication of how many people/money/orders were interested in that break-out and direction.

Large break-out plus high volume = momentum?
Large break-out plus low volume = low liquidity?

Even small break-out candles can spark a new leg on the chart.

We still need to consider market context to increase our probability.


Got it, thank you Alias!

That sounds a lot like VSA, I’ve been on it for a little time some year ago.
Is volume a reliable datum if using a broker dealer?
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