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Any type of trading strategy has to be designed as a test of a hypothesis, with repeatability built in to the way the hypothesis is framed. Whether the hypothesis being tested involves TA or not is less relevant than setting up the problem correctly. I can attest to the "intuition" element...

I like the way he did it, though.

Shorter version of this post: "Waaaaahhhhhh, trading is hard and people with more capital than me don't play nice!"

So why do you trade that crap? Trade the indices or commodities or trade a larger number of stocks in smaller size or more liquid stocks. Seems to me that if you know what is happening and you keep doing the same thing in response, the problem is with you.

Your original post stated that day trading was somehow harder now than it was before HFT and didn't say anything about daytrader capitalization. So before HFT someone w/$5000 could make a living daytrading? I mean, what makes daytrading different now than it was before HFT? Assume the...

How was daytrading different prior to HFT? Specifically, not just some vague statement about "it was easier" or "the market was less volatile" or some other subjective statement. When it comes to markets, either it can be measured or it doesn't exist. I doubt there is a single trader who...

Can anyone show me, on a chart, which price points were HFT buys and sells and which are human buys or sells, other than by guessing randomly or playing the odds, since 70% of the volume is generated by HFT? No, you can't. Price is price is price is price.

I agree that all of the derivatives of price and anything which refers the trader to a price point which was not traded, i.e. trendlines, seems suspect. But, again, the fact that I think those trading aids are conceptually flawed doesn't mean that they can work for some. Even if PA trading...

I do notice that people calling themselves PA traders do tend to focus on very, very short timeframes, but I actually don't think that's necessary. Like I said, I trade only based on price, but I actually trade much longer timeframes than the typical scalper, with many of my trades actually...

So even if someone has a strategy which can provide pretty consistent results, provided every trade is taken, there are still only 5% who can actually execute the strategy? I can see anyone being skeptical of a strategy once they first start using it and go through that first losing stretch...

While I've seen some posts where someone says they are a PA trader and they are watching for certain price patterns, that doesn't encompass everything that falls under the term "price action" as I've seen it used. If someone is using T&S to make trading decisions, they don't care about breakouts...

So you say the claim that simply by using PA to trade, a trader increases the odds of success is false and they fail at the same rates as other traders. I'm curious to know what other approaches these traders then move on to. Is it kind of random what they end up choosing to do or is there a...

What you say does make sense, although it is interesting that, historically, charts without any indicators were the norm (simply because indicators hadn't been invented yet) and if those are actually better, why did indicators come into existence? Was it just pure snake oil right from the get...

OK, maybe it is, but I don't think you'd get a consensus to agree with you on that. Not that consensus is always a desirable thing, of course. But the broader question would still remain, which is whether, of the TA traders, those whose TA consists of PA were more likely to be profitable?

Fair point about the average trader being a net loser. I guess that's the question I'm trying to get data on, whether or not the "average" PA trader is also a net loser or not. I started this thread because after reading the other threads on PA trading here, it seemed like the implicit claim was...

It's a good question. The answer I've seen given is that because price action doesn't use any indicators that it's different from TA. So, since your TA definition didn't mention indicators, maybe it's a semantic argument about what TA is? I do know this: if I could memorize the T&S record for...

So would you say that the traders in the Hammers thread are more profitable than the industry average? Based on your best guess, of course. Agree that entries are only one piece of a much larger puzzle. But, do you think that PA trading is better at enabling you to be in full control at...

But the things you say about the difficulty of learning PA are also true of other methods, aren't they? Learning to find the nuggets of insight in SEC filings takes more than just rudimentary accounting knowledge, for example. But, it basically sounds like you would tell anyone who was a...

So I guess my question is whether this "face time" learning is more likely to occur using price action because it's more "real" than other trading methods? Guys using TA spend just as much time with charts, no? Guys using fundamentals spend a lot of time poring over SEC filings, don't they...

While I'm not necessarily disagreeing with you, doesn't the hypothesis that price action is easier to trade, yet fewer people use it than use FA or TA, go against human nature to be lazy? BTW, I agree with the pro in your anecdote , with the stipulation that "going up" and "going down" are...