Combining This Moving Average & Price Action Strategy Made Me A Profitable Trader...

"I went from a break even Trader to someone seeing consistent profits in his account"

"the moving average I use for this trading setup is probably one of the most widely used moving averages in trading which may be why it works so well as a level of support so simply put it is the 50 period exponential moving average"

"when I decided to combine this with price must be bouncing off of the 50 EMA as well as an added condition that's when I initially started to make profits as a Trader"

"for this specific trading setup the conditions are our one two three move and the pullback and this pullback also needs to be coming into the 50 period exponential moving average"

"as long as candles have been above the 50 period moving average and are still touching the moving average I count it as support"

"if we have a candle that closes below the moving average and also does not touch the moving average at all at that point I no longer count the moving average as a support level"

"the entry is buying pressure Buying pressure can come in many forms Candlestick patterns like a engulfing bar or a hammer Candlestick for bad trades a close above candle a candle just with a long Wick to the bottom and a really big green bar would be an example of buying pressure"

"for me that's going to be just below our entry candle on this specific trade this is exactly where my stop loss was"

"for me that area is normally the next level of resistance price will hit in the uptrend"

"once I hit about a 1.4 to 1 reward to risk ratio on these trades on this exact setup I do normally move my stop loss from where it is to break even"

"the most popular answer by far was they had a problem staying disciplined and sticking to one trading strategy"

"professional Traders have the ability to continue trading a strategy through losses and through losing streaks whereas ninety percent of Traders cannot find a way to do that"

"the two things are fear and uncertainty and confidence and belief These two things are what determine how disciplined you're going to be to your trading strategy"

"the practical step to take is to try to increase belief and confidence and decrease fear and uncertainty"

"starting to back test my trading strategies so back testing is not sexy it's not something most people want to do but if you think about it it's something that can decrease uncertainty because you're seeing something work in the past through drawdowns and it's something that can increase your confidence and increase your belief in a specific strategy"

"risk management so whenever we're trying to decrease fear and decrease uncertainty and increase belief in confidence this mostly goes into fear and confidence in order to raise confidence what if you were to lose less money on a trade you would definitely fear it less right if you're risking 100 of your account you're going to be in loads of fear"

"if you use a proper risk management plan again it can kind of move those skills further towards you being confident and having belief in your full trading plan and decrease the fear and uncertainty that you have through the process of risking less money on the trades that you place"

"experience now I don't necessarily could suggest doing this with a real account but if you want to start a super tiny account and experience your full trading plan now this comes after creating a full trading plan you already have a trading plan you already have a strategy that you've back tested and seen that it's profitable and seen it go through drawdowns and come out profitable on the other side you already have a risk management plan that you're sticking to now is when you can start to have experience"

"if you do this over the course of 60 to 90 days and you see that in that small account or in that demo account you come out profitable that is going to do a major amount to increase your confidence and belief and decrease uncertainty and fear"