Hi at Geosanuy,
This is a really Marvellous system/method indeed, it's so simple it makes trading seem as though it only took a few click of the buttons to harvest some pips, no really, it makes trading seems as though it was some game or something.
Well first you might be wondering why i am ranting but i have always believed that a trader should never stop refining their trade entry and exit methodology, and so the more i learnt the more i practiced and the more i trained my eyes to different tools of trading mostly visual trading tools and a psychological view of price action.
All of this tools make the charts tell you more than just the price of a currency pair, the charts tells you a story about traders greed and fear, you but only listen intently(we all love gossip) and especially when you make money from the reactions to such gossip.
I use psychological support and resistance levels a .00, .20 .50, and .80 as decision levels, when price approaches these levels i don't just rush off to place trades even though i'll be looking intently to see what candlesticks form, and what trendline was breached when considering to open a trade.
Couple with your simplistic system, i get an even more accurate entry signal, i stay on the 30 minutes chart but when i see price approaching ALMA on the line chart i switch to the candlestick to see what is if there's a hammer, doji, hanging man and so on before switching to the 15 Minutes chart to sort of zoom on the move.
In a Nutshell
Always Consider where price is in relation to the .20, .50, .80 and .00.
When you get an ALMA/PA cross signalling a short trade for instance, say this were to happen below a .00 psychological price level of 1.3300 it would probably be a much lower risk and a higher probability trade because a reversal could be highly unlikely due to this major psychological ceiling.
This is especially so if a trader knows how to interpret price action on a broad and an in-depth perspective by understanding the psychology of market cycles. I wrote a blog post on this you can read here A Psychological Perspective on Market Cycles if you are interested in learning more about this.
Below is a screen shot of what my chart looks like and the ALMA Combo, if i may call it that , on the other.
hope to see how wild this thread flourishes... pips for everyone hehehe
This is a really Marvellous system/method indeed, it's so simple it makes trading seem as though it only took a few click of the buttons to harvest some pips, no really, it makes trading seems as though it was some game or something.
Well first you might be wondering why i am ranting but i have always believed that a trader should never stop refining their trade entry and exit methodology, and so the more i learnt the more i practiced and the more i trained my eyes to different tools of trading mostly visual trading tools and a psychological view of price action.
All of this tools make the charts tell you more than just the price of a currency pair, the charts tells you a story about traders greed and fear, you but only listen intently(we all love gossip) and especially when you make money from the reactions to such gossip.
I use psychological support and resistance levels a .00, .20 .50, and .80 as decision levels, when price approaches these levels i don't just rush off to place trades even though i'll be looking intently to see what candlesticks form, and what trendline was breached when considering to open a trade.
Couple with your simplistic system, i get an even more accurate entry signal, i stay on the 30 minutes chart but when i see price approaching ALMA on the line chart i switch to the candlestick to see what is if there's a hammer, doji, hanging man and so on before switching to the 15 Minutes chart to sort of zoom on the move.
In a Nutshell
Always Consider where price is in relation to the .20, .50, .80 and .00.
When you get an ALMA/PA cross signalling a short trade for instance, say this were to happen below a .00 psychological price level of 1.3300 it would probably be a much lower risk and a higher probability trade because a reversal could be highly unlikely due to this major psychological ceiling.
This is especially so if a trader knows how to interpret price action on a broad and an in-depth perspective by understanding the psychology of market cycles. I wrote a blog post on this you can read here A Psychological Perspective on Market Cycles if you are interested in learning more about this.
Below is a screen shot of what my chart looks like and the ALMA Combo, if i may call it that , on the other.
hope to see how wild this thread flourishes... pips for everyone hehehe