Price action momentum trading

The origin is your post 122

Survivor, i don't want to say you how trade, you are your method and she seems to suit you.

I just tell you how i see the trade. But it's just for discussion, don't see no pretentiousness.

look the chart

Yes, I've had this lightbulb moment (PA) a few months ago. We are visual creatures that crave repetition/routine and when you "get" the idea of how markets flow - it all becomes a little easier.

Thanks for the thread Survivor.

You are right about that red momentum bar. Also your way of trading is safer to be with red momentum bar till its broken. But i dont hesitate to take reversal trades. IMHO they have good rewards. Momentum changes directions and markets do reverse. with your system many entries will be missed. But of course missing entry is better than over trading.

Nearly every day I see momentum trades on nearly every pair. But it's always after I should have entered! The challenge now is to see them as they are forming.

GU, EU momentum right now, could have taken already ~40 pips for both, but still holding.

Edit: chickened out too early as usual due to small retrace, closed at +34

Many thanks Survivor for sharing your system and
help us! It seems very simple but it works
very successfull especially
in combination with other systems!

messiahua:
I think you say for this:
"GU, EU momentum right now, could have taken already ~40 pips for both, but still holding."

I think is "by the rules" momentum system!

@survivor, i have always been a fan of price action, i trade by it, i draw lines and psychological levels of the market to see price action near them, i use sup/dem, i use gann analysis, and law of motion on mine, and i have similar view to you, but i think you expanded even more the meaning of candels too me. I saw your charts posted and i was amazed, looks effective in conjunction to my initial trade setups. i have traded momentum, impulse, and accumulation, rejections, fakeys, spikes, traps, etc and this caught my interest big time.

Thanks survivor, good luck to your trades, inspirational, you deserve a vouch, please accept as token of thanks for sharing such information to us



am reading ur pdf.

it is easy and it works. Many thanks surviver

I like your system,
keep up the good work!

Nice to see another thread wit PA only. Im trading very similar system. Im waiting for candle to close higher or lower than previous, than I place waiting order. Take a look:

http://www.forexfactory.com/attachme...1&d=1318839561

But i need to filter out some signals. What do you think?

Survivor
Nice thread you have. If you don't mind could you please explain the setup in bit more details? I downloaded the PDF file
But no enough information. If you or anyone who is trading this method please explain it

Thanks

Traded for only 15 pips, as usual afraid to lose, but closed at reasonable level - RN and PPA the day before yesterday, also especially due to close daily target of 40 pips.

Edit: bye-bye 100 pips

I'm not an expert at all, but my practical example may explain a bit.

after 2 month using this price action momentum...
i keep my profits green

thx dude

good morning traders!

very good example of price momentum just before
(I think)
I opened my pc late.....

Might stop out at -10pip...

I have been trying to learn about trading forex for several months. The terms and concepts are available on a lot of sites, but there are so many systems that the whole thing has just seemed so confusing to me that I never thought I'd get involved. When I ran across this topic on PA, I couldn't believe it. This has simplified things so much for me. I will start trading this on a demo account and see how things go and if I get the feel for it.

I do have a question, however. I see people taking pips and overall seem to be happy with trading like this. Can anyone tell me if they are earning enough money to make a living with this system currently, and what it takes to do that? For example:

How many pairs:

How many hours per day and which sessions:

How large your account is and what you lot size is, as well as percentage of your account you actually risk:



Thanks for any help you can give.

Thank you so very much for sharing your system Survivor. I was looking for something drop dead simple and I believe I have found it. I started trading this method yesterday I made 3 trades all 3 were winners. Beginners luck? I do not know only time will tell. Anyway, I plan to keep trading this for a while and see how my results go.

Survivor!

Thank you for great thread! I like your analogy - war between bulls and bears very much!!!!

Very simple, clear and effective way of reading the market.

Thanks all mates for encouragement. I am not getting enough time to post these days.

However let me assure you all that this things works for me. I have also discovered since opening this thread that i am not the inventor- there are plenty of threads talking about this very same thing in different ways. have a look here for example- http://www.forexfactory.com/showthread.php?t=156106

Its like once you buy a new car, you see same model everywhere. Please demo,then learn and use.

I have enjoyed reading this thread and I always value all of survivor's contributions. But I have found it difficult to implement because it's not clear to me when you should buy/sell after a momentum bar. Sometimes the trend continues and sometimes it reverses. But then I noticed something on my chart setup.

Typically on the price chart I have the various Choros moving averages. In a window below I have a superimposed chart of RSI ranging from RSI(2) to RSI(16). Basically what I have observed is that when the RSI's are tightly clustered around the same value, and a momentum bar occurs, then the trend will continue (i.e., it's ok to buy or sell). However, if the RSI's are divergent and diverging, it means trouble and the trend will not continue.

Two examples from M5 charts on the EU are attached.

I'd welcome any comments.