The plasmodial slime mold Physarum polycephalum exhibits strong, periodic flow of cytoplasm through the veins of its network. In the special case of mesoplasmodia, a newly described starvation-induced, shape-constant morphotype, this periodic endoplasm streaming is the basis of locomotion. Furthermore, we presume that cytoplasm flow is also involved in signal transmission and signal processing. Mesoplasmodia motility resembles amoeboid locomotion. In contrast to other amoebae, however, mesoplasmodia move without extending pseudopods and retain a coherent, fan-shaped morphology throughout their steady locomotion. Attaining sizes of up to 2 mm2, mesoplasmodia are also much bigger than other amoebae. We characterize this particular type of locomotion and identify patterns of movement. By using the analogy between pulsatile fluid flow through a network of elastic tubes and electrical circuits, we build a lumped model that explains observed fluid flow patterns. Essentially, the mesoplasmodium acts as a low-pass filter, permitting only low-frequency oscillations to propagate from back to front. This frequency selection serves to optimize flow and reduces power dissipation. Furthermore, we introduce a distributed element into the lumped model to explain cell polarization during the onset of chemotaxis: Biochemical cues (internal or external) lead to a local softening of the actin cortex, which in turn causes an increased flow of cytoplasm into that area and, thus, a net forward movement. We conclude that the internal actin-enclosed vein network gives the slime mold a high measure of control over fluid transport, especially by softening or hardening, which in turn leads to polarization and net movement.