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PA Trading with EMAs and common Sense

  • #321
  • Mar 19, 2023 4:15am Mar 19, 2023 4:15am
Hi there,

Al Brooks
Reading Price Charts Bar by Bar
The Technical Analysis of Price Action for the Serious Trader
Quote
Trading Guidelines
Why guidelines and not rules? Because there are no rules.
1. Everything that you see is in a gray fog. Nothing is perfectly clear. Close is close enough. If something looks like a reliable pattern, it will likely trade like a reliable pattern.
2. Every bar is a signal bar for both directions and the market can begin a trend up or down on the next bar. Be open to all possibilities and when the surprise happens, don't question or deny it. Just read it and trade it.
3. Everything makes sense. If you know how to read price...
atb vvm
PA Trading with EMAs & common Sense
  • #322
  • Mar 19, 2023 4:55am Mar 19, 2023 4:55am
that's brilliant vvm!

"every trade is wrong until proven right" is another way of looking at it...
every minute matters!
  • #323
  • Mar 19, 2023 7:10am Mar 19, 2023 7:10am
Quoting niks
{quote} cost averaging is used with the aim of always breaking even or better, cutting losses quick is not the approach, instead, giving the trade every possible chance to produce a profit is where the risk and money management skills lie
BTCUSD 1M (DEMO)

check this out thehustla, an example of the power of cost averaging - leading on from the quotes vvm just posted, that is the philosophy behind these trades, that we never know where price will go, but it will all make sense if we understand price action when it does go where it goes!

for example, price action led me to believe that price would reverse on my first long entry, with a plan that if it doesn't, i will continue to add orders until it does - the timing of each order and the total number of orders used are critical components of the risk and money management backing these trades

the two lines i've drawn are when price returned to a small profit and i could of exited at this points, but decided to hold for the purpose of this example, i would of considered closing here if it was live, with a small but decent profit well below my initial entry

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but as is often the case with these trades (not always), if the signs are right and you hold until your initial targets are hit, then your in for a windfall...

wish i had the same courage live! i lost count of the number of pips this just hauled in, my pip counter broke down!!!

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every minute matters!
  • #324
  • Mar 20, 2023 12:31am Mar 20, 2023 12:31am
Hi there,
new Day new Luck!

atb vvm
PA Trading with EMAs & common Sense
  • #325
  • Mar 20, 2023 12:58am Mar 20, 2023 12:58am
Quoting vvm
Hi there, new Day new Luck! atb vvm
i hope so!

AUDUSD 1M

ema9 overextension trend continuation after pullback bouncing off support long

no initial SL, cost averaging was used as required, could of taken a third at the low but the gaps between orders is important, especially with only 1:30 leverage in your pocket...

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SL adjustment

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closed first position before target due to price action, let second trade run and lifted target, SL now above BE

thanks for the luck vvm!!!

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every minute matters!
  • #326
  • Mar 20, 2023 3:30am Mar 20, 2023 3:30am
Al Brooks Setup
GBPCHF Bought H4

s. Chart
atb vvm
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PA Trading with EMAs & common Sense
  • #327
  • Mar 20, 2023 4:38am Mar 20, 2023 4:38am
Quoting vvm
Al Brooks Setup GBPCHF Bought H4 s. Chart atb vvm {image}
that's clever, two failed bearish IB's, i'll look out for that one, this is an excellent trade...
every minute matters!
  • #328
  • Mar 20, 2023 5:46am Mar 20, 2023 5:46am
AUDUSD 1M

trend continuation pullback long, bounce off ema200, i thought i had it covered!

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then the market shows its true colours and stops me out, fair enough, so i try again, same result!

then this happens... it reached where my target was for the second order!

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it's times like this you need to step back for a second and get recomposed...
every minute matters!
  • #329
  • Mar 20, 2023 5:47am Mar 20, 2023 5:47am
Quoting vvm
EU D1 Bought s. Chart atb vvm {image}
Really nice trade mate. I missed my entry this morning. Was looking at something else at the time and the trade I put on, never got activated unfortunately. Nice one.
  • #330
  • Mar 20, 2023 7:54am Mar 20, 2023 7:54am
Quoting vvm
Al Brooks Setup GBPCHF Bought H4 s. Chart atb vvm {image}
Thanks for the interesting thread VVM. Quick question for you - I've often found that the illiquid times of the day can give a misleading view on certain bar setups. For example, its not uncommon to see IBs in the specific 4(8)hr period that you've highlighted, and I was wondering if your experience has given you a different take on this? Clearly this trade has played out well and I'm just curious to get your thoughts.
  • #331
  • Edited 8:54am Mar 20, 2023 8:20am | Edited 8:54am
Quote
I've often found that the illiquid times of the day can give a misleading view on certain bar setups
Sorry, I don't have anyIdea about "illiquid times"

The main Question for me:
If the Bars are large enough without long Tails
if so, I'll trade this Chart, otherwise I don't

Quote
I was wondering if your experience has given you a different take on this?
Every Setup has its Probability in this Fall maybe 65-35 in my Fovour
it is my Decision to take it or don't....

I don't like to process too many Imputs for my TradingMethod,
that brakes it
KISSS

atb vvm
PA Trading with EMAs & common Sense
  • #332
  • Edited 11:15pm Mar 20, 2023 10:56pm | Edited 11:15pm
AUDUSD 1M

pullback entry long off support, first entry was late, so took second entry, then support broke, then cost averaged at next level of support, still ended in a nice profit...

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tricked again, same setup, same result, smaller profit!

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every minute matters!
  • #333
  • Mar 21, 2023 12:20am Mar 21, 2023 12:20am
Hi there,
new Day new Luck!

atb vvm
PA Trading with EMAs & common Sense
  • #334
  • Edited 4:09am Mar 21, 2023 12:25am | Edited 4:09am
Al Brooks Setup from yesterday
As promised in the 1. Post
I also show my bad Trades here.
NZDUSD Solled H4

A super Entry but the MM was very bad

s. Charts

atb vvm
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PA Trading with EMAs & common Sense
  • #335
  • Mar 21, 2023 2:35am Mar 21, 2023 2:35am
Quoting vvm
NZDUSD H4 Bought, SL @ BE s Chart atb vvm {image}

can you share template love the color combination
  • #336
  • Mar 21, 2023 2:44am Mar 21, 2023 2:44am
Quoting doberman322
{quote} can you share template love the color combination
please
atb vvm
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PA Trading with EMAs & common Sense
  • #337
  • Mar 21, 2023 3:37am Mar 21, 2023 3:37am
EURUSD H1 BOUGHT

Bull Flag and structure very clear. Risk has been reduced and will leave it alone now.
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  • #338
  • Mar 21, 2023 3:48am Mar 21, 2023 3:48am
Quoting vvm
Al Brooks Setup from yesterday As promised in the 1. Post I also show my bad Trdes here. NZDUSD Solled H4 A super Entry but the MM was very bad s. Charts atb vvm {image} {image}
Outside Bar + Inside Bar. I like this pattern mate. Then entry on breakout of IB.

My candles look very different to yours for some reason. Must be server time differences.

D1 looks good too. 2 leg pullback and bearish candle.
  • #339
  • Mar 21, 2023 4:10am Mar 21, 2023 4:10am
Quote
Outside Bar + Inside Bar.
SORRY
it is 3 Bars Setup
IB-OB-IB

atb vvm
PA Trading with EMAs & common Sense
  • #340
  • Mar 21, 2023 4:14am Mar 21, 2023 4:14am
Quoting vvm
{quote} SORRY it is 3 Bars Setup IB-OB-IB atb vvm
Second bar high goes above first. I thought an inside bar was the second bar must be completely within the bounds of the previous?
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