can price action predict market moves

[SimpleMeLike]

That's not true, even the common narrative that 95% of traders lose money is also not true, at least this isn't factual in 2021, about 70% of retail traders lose money consistently nowadays. So 25% have adapted by way of learning. Risk management or trade management, whatever you want to call it, is the thing that's the culprit when consistently losing money, which also includes many factors. So pinning it on price action is silly, it's absence of risk management. Just look at what happened to the guy that lost 20bn in 2 days.

Master Pu,

Risk management or money management is just an excuse for not knowing how to make money in trading and not having a trading edge(s). Period.

That is just an excuse to keep traders running in circles and take their time and energy. And keep people talking.

Risk Management and Money Management is completely bullshit. Noone is dumb, we all know what we risking.

 

[Master Pu]

Master Pu,

Risk management or money management is just an excuse for not knowing how to make money in trading and not having a trading edge(s). Period.

That is just an excuse to keep traders running in circles and take their time and energy. And keep people talking.

Risk Management and Money Management is completely bullshit. Noone is dumb, we all know what we risking.

Can you not devise an 'edge' by following a trend using risk management? Wow, Ok. Maybe choose a longer term then. KISS works absolutely fine position trading, for very short term holding times most likely you need more of an edge, I won't argue with that.

 

[deaddog]

Deaddog,

My great grandfather use to always say. "Boy, I see better than I hear"

I hear you talking, but I still don't see nothing.

What do you want to see? Examples of someone using price action. Look no further than the YouTube "Chat with Traders".
I could show you my trading record but you wouldn't believe me.

 

[Master Pu]

Come on Russell time to smash it!

 

[Gaslight Capital]

Yes the data at times has BUT NOT FUCKING CHARTS.

What do you think a chart displays?

 

[Master Pu]

I find that anti-chartists are a similar breed to ex-smokers, when they smoked you couldn't say anything against smoking, once they quit they become a total nuisance telling everyone off for smoking LOL

 

[speedo]

I find that anti-chartists are a similar breed to ex-smokers, when they smoked you couldn't say anything against smoking, once they quit they become a total nuisance telling everyone off for smoking LOL

At least they were smart enough to quit.

 

[Master Pu]

At least they were smart enough to quit.

I'll give you that one but not all can quit or want to. If majority were to find an optimal way to trade then it won't last long.

 

[Master Pu]

Russell near historic support levels. You make the choice whether to go long or sell below, risk management takes care of the rest.

BTW don't jump at presence of moving averages, I only have them for weekly charts.

 

[Laissez Faire]

You make the choice whether to go long or sell below, risk management takes care of the rest.

No.

Risk management will only make you bleed out slower, i.e., if you bet $10 you can play 10 times longer than if you bet $100. But in the end you will still lose if you don't have an edge (positive expectancy) and/or sufficient market understanding.