We present a conceptual design for a new X-ray all sky monitor (ASM). Compared with previous ASMs, its salient features are: (1) it has a focusing capability that increases the signal to background ratio by a factor of 3; (2) it has a broad-band width: 200 eV to 15 keV; (3) it has a large X-ray collection area: similar to 10(2) cm(2); (4) it has a duty cycle of nearly 100%, and (5) it can measure the position of a new source with an accuracy of a few minutes of are. These features combined open up an opportunity for discovering new phenomena as well as monitoring existing phenomena with unprecedented coverage and sensitivity.