PA Trading with EMAs and common Sense

G'day porfirio, yes for the majority of my trades i use cost averaging instead of entering a stop loss, i will use them occasionally if trading the last few hours of the week, or when trying something new, sometimes i will enter buy and sell in middle of range and enter stop on either end and let the other end run, there are also times when i will close a trade in a loss manually and of course for break even and above protection - i only started doing this eight months ago and had some scary moments in the beginning but came out unscathed

the inevitable consequences of this trading style are periods of drawdown and margin pressures and i continually work very hard on my risk and money management to make this easier every time it happens while trying to avoid it at all costs using what i have studied about trading naked price action for 15 years now...

from the first day i started trading without stop loss was the first time i was consistently profitable on both demo and live accounts, before then i was running in circles for long time just to end up break even - but i will stress my live performance is no where near my demo performance and has a long way to go - this is why i clearly indicate my demo trades so when i look back i can remember - and to be honest, it does take a brave heart to trade this way as you can appreciate, whether or not its the right way for me only time will tell!!!

i think you will find other threads with similar styles here at ff - or if your interested, you can look up King of Forex on yt to see where my motivation comes from...

best of luck to you and thanks for your interest, i think anybody crazy enough to try and make money in forex is brave, or delusional!

BTCUSD 5M (DEMO)

trades opened sunday, closed today - long off support looking for uptrend to continue, it didn't, so after breaking support i stopped adding orders, until it found a new support level, then a reversal began and back into a strong uptrend then into my targets that were set at a previous resistance level...


bringing the total for the two weekend btc trades to 2777 pips!

GBPUSD 1M (DEMO)

long off ema and big round number support, support broke, cost averaged in three more orders expecting to bottom out quickly which it did before rebounding into target at previous highs...

BTCUSD 1M (DEMO)

couldn't resist entering short after seeing price top out like this...


resulting in a bitcoin bonanza!

GBPUSD 5M (DEMO)

short off resistance targeting previous lows, resistance failed to hold so stopped adding orders once it broke and held above ema200, after a bit of sideways and one last impulsive move up, price then quickly rallied back down to targets once it broke and held back below ema200...

GBPUSD 1M (DEMO)

countertrend long off support targeting previous high as it breaks and holds above each ema one by one into targets!

what makes price move to produce price action?

i've seen many outlandish theories - this is the one i subscribe to...

Feel the Emotion. Don’t Just See Price.

GBPUSD 1M (DEMO)

short off resistance targeting quick profits at previous lows as it breaks back and holds below ema200, although it did twice, my targets were lower so stopped adding orders once it held above

but then it topped out taking out all the longs into my targets!

GBPUSD 1M (DEMO)

pre news short off resistance targeting previous low, stopped cost averaging as price continued up until it reached a very nice double top where it entered a range until the news moved price down to break the range and into my targets!

EURUSD 1M (DEMO)

long off support targeting previous resistance, support failed to hold so cost averaged at lower support levels then stopped, it failed to breach ema200 the first time back up but smashed through it the second time straight into my targets!

AUDUSD 1M (DEMO)

short off resistance targeting a return to ema200, resistance broke so added two more orders until new resistance formed via double top and reversed price into targets...

BTCUSD 1M (DEMO)

short off resistance and ema200 looking for a quick scalp targeting previous low - cost averaged additional orders once ema200 resistance was broken until it peaked and a downtrend followed - it was slow going but finally reached targets, first two orders were held for additional profits later on... every little bitcoin helps!



then short again off resistance levels, looking for another quick scalp again targeting a break of previous low, wasn't to be, remained conservative with orders as i already had two running and price continued to straddle ema200, then after a final burst up, it broke back down below ema200 and into my targets...

BTCUSD 5M (DEMO)

long off support level which was same level as profit target for previous short trade anticipating a break above ema200 initially targeting previous resistance level, there was no need to cost average in any more orders while it bounced off support level until a strong break above ema200 looked like turning into an uptrend, so closed one order and decided to follow trend with second order, then took a third order as it bounced off ema200 - after the last relatively large bullish candle the uptrend appeared to have exhausted so took profits...

BTCUSD 1M (DEMO)

entered long from where i left off on previous trade anticipating uptrend continuation, cost averaged down to a break of ema200 which was weak, so entered a final order as the support level developed, then a strong break above ema200 and subsequent action packed break of the resistance level propelled price into targets!

BTCUSD 5M (DEMO)

then long again one last time off ema200 support basically double dipping the previous trade!



ending the weekend with a decent haul of bitcoins!!!

AUDUSD 1M

short off ema200 then big round number resistance targeting break of previous low

EURUSD 1M

late entry short expecting ema200 resistance to hold, then a better second entry on the weak break above ema200 into big round number resistance, targeting previous low...

EURUSD 1M

short off ema200 resistance after strong break above failed to follow through targeting previous low...

EURUSD 1M

long off support targeting return to ema200

EURUSD 1M

short off resistance that was previously support and now ema50 anticipating downtrend continuation targeting exhaustion which appeared in the form of a a big bearish bar...