Are you good at price action and technical analysis?

[Sprout]

This - among other things.

As an aside there is no point in responding to the original post because:

1) The OP does not believe one can be profitable reading PA alone (for which they are clearly wrong) and...

2) The quiz is insulting. Probably by intent.

Here's a small tidbit. You dont have to be part of a top performing quant team to make money in markets. Money can be made in many other ways such as... GASP... learning how to read PA. The same profitable setups literally occur over and over again and have for ages.

But again i digress. Youve made it clear multiple times before that is either borderline impossible or a fools errand.

The problem is you're wrong. And no - im not going to show you how or post statements. By all means though.. carry on with your condescending circus experiment.

In addition, if the go/no-go moment "in time" is not illustrated by the chart snippet, there's not much meaningful information to be had. In other words, that particular 5m bar would not be the point "in time" to make a decision.

 

[Sprout]

Appreciate the honest feedback. It is meant to focus purely on price action, hence the lack of other details.

What I described are all components of price action. Price Action isn't just looking at bars build on a single TF, it's much more holistic than that - at least to form the distinctions and awareness of high probability vs low probability trade timing and locations.

 

[Sprout]

I don't know what the risk reward will be when I enter a trade. (I trade Breakouts & Hammers when they meet all criteria)
What I do know is what the risk is. (Of course I can get more risk than I bargained for with a gap down)
As far as reward goes I'll stay with a trade as long as it continues in my direction.
I only need 1 or 2 trades that take off to have a decent year.

Bingo! Ticking off the checklist makes or breaks a trade. Just because the charts are printing squiggly lines and one is sitting in front of their computer doesn't mean a trade is there to take.

 

[Frederick Foresight]

If they’re enough for you then please take the quiz

First, I don’t use a 5-minute chart. Never have. Second, I don’t predict anything, least of all the close of the next bar. (Seriously? Is that what you’re asking for? The close of the next bar?!) Which you certainly couldn’t do either, even if your life depended on it. And third, while a “hit rate” is not to be dismissed, it is certainly not the only ingredient to consider in evaluating the feasibility of a trading plan. Besides, what does “hit rate” mean? How do you measure it? This variable does not exist in isolation, and is dependent on protective stop placement, which in turn can potentially depend on your time horizon and/or risk/reward profile, which can in turn depend on the trade size you choose to employ in a trade.

And so, my question to you is, Although you seem to know a lot about the markets, do you actually trade them?

 

[Laissez Faire]

So you’re telling me that you need more than just the price action of a stock to figure out what’s going to happen?

Define price action, please.

But yes, I, personally, would need more than a naked chart taken out of context like the ones you had in your quiz.

I trade index futures, though. Not stocks.

 

[longandshort]

First, I don’t use a 5-minute chart. Never have. Second, I don’t predict anything, least of all the close of the next bar. (Seriously? Is that what you’re asking for? The close of the next bar?!) Which you certainly couldn’t do either, even if your life depended on it. And third, while a “hit rate” is not to be dismissed, it is certainly not the only ingredient to consider in evaluating the feasibility of a trading plan. Besides, what does “hit rate” mean? How do you measure it? This variable does not exist in isolation, and is dependent on protective stop placement, which in turn can potentially depend on your time frame and risk/reward profile, which can in turn depend on the leverage you choose to employ in a trade.

And so, my question to you is, Although you seem to know a lot about the markets, do you actually trade them?

The questions are binary — will the next bar be higher or lower? Not asking for a specific price. This forum is full of people who claim to be great at price action analysis, so thought a quiz measuring that would be useful.

Yes I do trade.

 

[deaddog]

Hmm I guess I wouldn’t define that as a risk reward of 1:2.

Not sure how I'd define it myself. Each trade is independant. At the end of the year I expect that my gains will be more than my losses.
When entering a trade I rarely have a target. Since a lot of my trades are at new highs there is nothing overhead that will slow the trade down.
PA comes into it here again. Depending on how the price is moving I might scale out. I never let a winner turn into a loser if it's my choice. (I can't control gaps down)
I know you don't want to believe that you can trade without any information other than what you can find on a price chart, but price does tell the story.
I have no idea what the market will do, I only know how I will react.

 

[hilmy83]

The questions are binary — will the next bar be higher or lower? Not asking for a specific price. This forum is full of people who claim to be great at price action analysis, so thought a quiz measuring that would be useful.

Yes I do trade.

I think I read somewhere that the next bar has about 50/50 outcome. I actually ran a test for breakout vs reversion algo on a single bar with 1:1 RR. It's more or less 50/50 win rate for both.

But you can't simplify PA to just predicting the outcome of the next bar. Way too many variables in a trading system.

I read a bit of your posts to gauge your experience. For someone like you, I'm shocked that you think this survey has any merit.

 

[Frederick Foresight]

The questions are binary — will the next bar be higher or lower? Not asking for a specific price. This forum is full of people who claim to be great at price action analysis, so thought a quiz measuring that would be useful.

Yes I do trade.

Can you “predict” whether the next bar will be higher or lower with any reliability?

 

[SunTrader]

@SunTrader (and others): Why do you folks allows yourself to be "played" by these trolls? Did you really believe this thread was about testing your TA ability? C'mon, you're too naive.

Of course. Exactly why I replied the way I did.

OP is not a trader. He advises. A CTA, CFP or some such.