Can you describe your thought process on determining sentiment?
Obviously if price is converging onto the sma, the two option are a bounce or break through… Depending on sentiment… What are you looking at specifically to decide which it’s going to be.
Hi Dennis, couple of questions… why the 200 sma? and exactly what triggers an entry?
i am looking for what you have said , its a bounce or breakthrough zone on the 200 or consolidation . Price speaks for its self as it is printed on the charts. break of the sma will stretch the candle then pull back, pull the trigger set a stop and dont think about it. Tight Stop close to the sma. on the first impulse take half of the position as profit. so if its not a runner your out with a profit on a looser. enter again depending on what is being printed if price takes your stop. The 200 sma entry is worth more then. 10 trades anywhere else on the chart. Once your in , there is no more stress on the trade. If your not in profit from the entry within half a minute then your price is not on the SMA. the 200 SMA is where trend starts. if there is a down trend then price passes through the 200 it is considered that the bulls are in control and below it the bears…
So you are talking about 1 hour chart or 1 minute chart?
So when you said sentiment earlier… You are just determining that by price action? Nothing else?
yes thank you for that, i did not read that book, but some friends of mine who are traders in the city showed me how to trade as they do
You are clearly a successful trader & the trading system you’re outlining seems simple enough (I’m a newbie & yet to look at it but it seems straight forward enough) & it’s stuff like this that us NoObs need to hear.
I agree with bobmanic, you should start your own thread on it - I for one would subscribe to it.
Anywho Dennis: thanks for the advice, welcome & I hope that our paths cross again.
yes price action tells all. . Price action…clear charts are a clear head with clear judgment. Dont watch 2 movies at once as you will never understand the story. pull the trigger without doubt. price action tells all, do not read between the line only look at the price action at the SMA and then after at the double top, inverted and so on
1 hour 4 hour and daily
do not want to start a thread i do not own this system. please pratice on a demo as i cant teach people how to read price action. its like driving a car i can teach you how to drive but i can not teach you how to anticpate traffic flows. reading what price prints takes experience
I just did a quick google search… Checkout alertfx.com… You can set up conditional alerts using SMA as a condition.
It says it’s free… The only problem is that the price needs to cross the sma… But a work around to giving you a bit of warning is to set sma based off of High or Low instead of close… This will give you a little bit of a price gap in-between alert and actual price crossing… The alerts are sent to email and phone
I’m not an mt4 guy so that’s the best I can do for you…
Just jumped on MT4 & am I right in thinking that the EUR/USD is on the 200SMA now on the H1 chart? Just hoping that I set it up properly, I’m new to the demoing & I’ve been doing 12hr shifts all week & only getting 30mins at night to have a wee look at what’s been doing.
thanks banker i really appreciate the help people are giving me here, i really hate scanning charts for my set up its so boring
…I managed to get my Girlfriend t o do that but after a month she was fedup with it to…indicator will be great then i can just get on with playing call of duty and so on untill i hear the bell…
Wow… I can’t even get my gf to make me a sandwich let alone watch my charts.
You have one of the weirdest avatars I have seen on this forum…
yes its in the right place fo an entry watch price as it is printed. its late so no momentum. look for consolidation above or below the sma below is short above is long. after consolidation read the impulse in the way price is printed, if you get a leg down expect a leg up, if the pull back is held by the sma as S or R then you know which way to go. perfect practice makes perfect.
My 1st choice was better: a straw hat, purple aviator style plastic glasses, a black & white necker-chief & superman boxer shorts (nothing else). With the dimensions etc, it cropped awkwardly & didn’t look right 
I had a shirt & tie one & other reasonable ones but I’m enjoying my new addiction to this forum & it seems like an ace community so I wanted to keep it light-hearted & fun.
Kinda look like a jihad-ding Mario…
Yeah I’ve noticed the lack of momentum at this time of night but I like to get on & just see how the different indicators etc work with each other. I don’t open any trades when I’m on-shift, just look at charts. I’m off Fri-Tue so I’ll get 3-days of decent demo’ing - hopefully.
I usually look at EUR/USD so it was a lucky coincidence that it was hitting the SMA as that’s the only reason I jumped online tonight, to try out your theory. Cheers Dennis!
lol there only on yourside when your neutral