PA Trading with EMAs and common Sense (PA Trading with EMAs and common Sense)
@First of all, sorry for my bad English
My trading approach has 3 basic ideas:
1. PA: 50%
2. 2 fast EMA (floor trading system), sometimes I add 100Ema: 10%
3. Common sense: 40%
1) PA plays a major role in my approach, I'm not a very good PA trader, but I understand the chart structure (trend, range, reversal) and the importance of key levels, which is enough for my simple trading.
IMHO
The best PA books:
Al Brooks "Reading Price Charts Item by Item," 400 pages, 330 charts.
Reading it is a very difficult job, but it is worth it.
I started reading this book on September 1, 2016 and have been reading it ever since. I understand it much better now than I did in 2016, but I'm not ready to read the book yet.
This book is my trading guru, my holy grail.
2) 2 EMA (e.g. 8,20 or 8,18) or 3 EMA (8,20,100) I mainly use them as a graphical tool to show the actual chart structure: trend or range.
Sometimes 3 MAs help me understand trends better
This is very important to me: I make more money on trends.
Sometimes, there are bounce or PuB settings nearby as well. Good PA traders will see these setups without the MA, but my brain doesn't. So I need these 2 or sometimes 3 assistants.
EMA is only useful for trends, but using PA allows for range and reversal trading close to key levels .
I only have 2 clear templates:
- The first 8,18EMA
- Another one has 8,20,100MA.
If necessary, I would draw the TL and Sup and Res lines,
Otherwise keep the diagram clear and free of junk.
3) Common sense is very important in trading and it comes with experience.
For example, you can say U, don’t trade this pair today,
The range on the chart is very narrow right now,
Don't burn your money! ! ! !
I don't read some news, I have stopped reading other topics about trading systems and so on, there are too many inputs to process during trading time and it's very bad for me. I only read the charts, which is enough for my simple trades, and I try to use smaller stops.
I am not a teacher, I want to show in this post a possibility of simple trading using only clear charts, it is not for everyone but for traders who like to read and understand charts.
I mainly trade H1, rarely H4 and D1
I will put some of my trading charts here along with losses and profits.
Please place your chart and don't use any other indicator, only MA
I have a trading streak starting on Friday
s. chart
ATB
virtual machine
My trading approach has 3 basic ideas:
1. PA: 50%
2. 2 fast EMA (floor trading system), sometimes I add 100Ema: 10%
3. Common sense: 40%
1) PA plays a major role in my approach, I'm not a very good PA trader, but I understand the chart structure (trend, range, reversal) and the importance of key levels, which is enough for my simple trading.
IMHO
The best PA books:
Al Brooks "Reading Price Charts Item by Item," 400 pages, 330 charts.
Reading it is a very difficult job, but it is worth it.
I started reading this book on September 1, 2016 and have been reading it ever since. I understand it much better now than I did in 2016, but I'm not ready to read the book yet.
This book is my trading guru, my holy grail.
2) 2 EMA (e.g. 8,20 or 8,18) or 3 EMA (8,20,100) I mainly use them as a graphical tool to show the actual chart structure: trend or range.
Sometimes 3 MAs help me understand trends better
This is very important to me: I make more money on trends.
Sometimes, there are bounce or PuB settings nearby as well. Good PA traders will see these setups without the MA, but my brain doesn't. So I need these 2 or sometimes 3 assistants.
EMA is only useful for trends, but using PA allows for range and reversal trading close to key levels .
I only have 2 clear templates:
- The first 8,18EMA
- Another one has 8,20,100MA.
If necessary, I would draw the TL and Sup and Res lines,
Otherwise keep the diagram clear and free of junk.
3) Common sense is very important in trading and it comes with experience.
For example, you can say U, don’t trade this pair today,
The range on the chart is very narrow right now,
Don't burn your money! ! ! !
I don't read some news, I have stopped reading other topics about trading systems and so on, there are too many inputs to process during trading time and it's very bad for me. I only read the charts, which is enough for my simple trades, and I try to use smaller stops.
I am not a teacher, I want to show in this post a possibility of simple trading using only clear charts, it is not for everyone but for traders who like to read and understand charts.
I mainly trade H1, rarely H4 and D1
I will put some of my trading charts here along with losses and profits.
Please place your chart and don't use any other indicator, only MA
I have a trading streak starting on Friday
s. chart
ATB
virtual machine
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