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Are you talking about mean reversion with a 20 period EMA when price gets x distance from the EMA? What happens when price and the EMA fall at the same rate (a large down trend) yet the distance between price and the EMA remain the same? I know this is outside the context of this thread...

I have heard VSA is inconclusive at best. What advantage/edge does it purport to provide?

for those of you who say to use higher timeframes as reference: 1. i understand taking trades in the direction of the macro trend. what do you do if the higher time frame is not making a trend (say it made LL but then HH)? Would you sit out until it forms a definitive trend, then? 2. is...

lol ok. how am i not taking myself seriously by posting real time charts where i made bad trades? what would i accomplish by posting after the fact charts of winning trades? well anyway, this thread is for me to learn and for any non-gurus who want to participate.

so give me the basics. or at least point me in the right direction :/

thanks for that contribution. (posting from my phone)

Thanks for the replies so far!! I will be out of town this weekend (so I'll only be able to browse this thread from my phone) but I'll be back here Monday morning. nw31 check your PMs

huh?

I was shoveling snow this morning (Chicago winter). Besides even if I saw those reversals happen, it's not like I would have known they were reversals :D

jjrvat: Two questions about your most recent charts: 1. On the first chart where you have labeled "valid short LH and LL," it seems that you went short at the beginning of the next candle. How did you know that would be a down candle and not another green candle? 2. Why did you use...

Ok I'm gonna try to type up a bunch of rules or things based on comments people have left. There's a ton of info in this thread and I need to get it all organized somehow. I'll post it in this thread for comments later.

established up trend HH, HL, HH, HL, HH Went long when green bar passed previous swing high. Target was pivot point since price was close and I haven't learned anything about picking targets with Price Action. Seemed like a good point. In the past, I've usually been successful using...

ok guy's I'll post my chart for today (most likely a loser) along with comments and stuff in a bit.

I laughed out loud at that :D

From that chart it looks like all you would have to do is trade in the direction of your MA :D (works great until price chops around the MA)

omg that trend is parabolic :eek: Every Forex chart I see is full of crazy trends. Is it always that way? I've even heard of people leaving futures and equities to trade Forex because of the trends.

dunno, jjrvat posted it in the Day Trading 2.0 thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=113456&perpage=30&pagenumber=31 edit - you know what, it might be Heikin Ashi candles, in which case, disregard it completely.

How big of a stop do you use to only allow for a 1-2 point profit? Perhaps this is a mindset I will have to change for trading with Price Action, but based on my backtesting, the only way to have (slightly) positive expectancy over time was to let every trade run to the max. Stopping them...

Not like Forex. Look at this: http://i35.tinypic.com/ay80ur.png

I will add conditions to it then. - go short in a down trend after a retracement when a red candle breaks the low of the previous bar when conditions x, y, and z occur. More replies later. Just wanted to pop into this thread cuz I had 2 spare minutes.