Al Brooks - Trading Price Action Trends

Quote from cornixforex:

Yeah, thats what most "TA works or not" threads stumble upon. People refuse to admit this is not mechanical kind of human activity. It's is more like professional music or sports, activity which demands extreme focus, considering all the smallest details, nuances and of course, context.

If one is focused enough to really watch the price across several time-frames, context soon becomes clear enough to put odds in your favour.

But of course, most never get there. They want just to see green arrow to "buy" and red arrow to "sell" and preferably that distinguishing arrow colors would be the hardest part of analysis. :D
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Yup, and that is where the majority of ET are at and why they will remain there. Every thread that makes a positive contribution draws a crowd of clever clogs who know better based on their experience of failure.
 
Quote from dv4632:

I hadn't seen this when I posted my post above, but that's kind of what I was getting at with my post about varying market conditions. When you're low on the learning curve, it takes a long time to come up with a working trading plan that you can trust... so naturally you're going to be very slow to react to changes in market conditions or big picture context.

It has me a little worried, by the time I get my plan perfected it may not be any good any more!
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It might indeed be out of date. The market changes and we need to evolve with it and that can be very demanding. What is likely to happen in your own development if you are creative and analytical is that making adjustments becomes faster.

I mentored a group of traders a few years back and the PA we are trading today has many differences to what we were trading then. However the core values didn't change and everyone was able to make the necessary adjustments to keep a winning strategy.

Bots can fight each other and really screw up quality PA but they have weaknesses too.
 
"I mentored a group of traders a few years back and the PA we are trading today has many differences to what we were trading then. However the core values didn't change and everyone was able to make the necessary adjustments to keep a winning strategy."

Can anyone please help me to decipher this bull crapola?
 
Quote from cornixforex:

Yes, there are many ways to skin the cat, as one Chinese billionaire said last December.

http://abcnews.go.com/blogs/headlines/2012/01/death-by-cat-meat-chinese-billionaire-poisoned/

:D

Sorry, couldn't resist from bringing that analogy.
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No wonder I am smelling a rat in my attic . Bar by bar analysis is not necessary for profitable trend trading or profitable intraday , infact a single bar analysis is less valid than 3 bars confirmation or 5 bars confirmation.By the time you get to three bars , you might as well look at fast moving average.
 
Quote from oilfxpro:

No wonder I am smelling a rat in my attic . Bar by bar analysis is not necessary for profitable trend trading or profitable intraday , infact a single bar analysis is less valid than 3 bars confirmation or 5 bars confirmation.By the time you get to three bars , you might as well look at fast moving average.
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I never stated that bar by bar is the most effective trading tactics.

For me, the most effective way to trade is combining price action of several timeframes, to take low risk entries on small timeframes within the context of bigger timeframes.

As for moving averages, formations etc. I tried nearly every indicator and trading methodology during the learning curve.

Settled with what described above as the most optimal approach. For me. For some other people it may well be different.

Everyone develops personal style over time and that is wonderful. Life would be too boring if it was just black and white. :)
 
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