Then don't trade via price action. Why are u trying to create a discussion about this. Use the search tool. Its been discussed endlessly and does nothing for nobody.
can price action predict market moves
- Thread starter geth03
- Start date
Then don't trade via price action. Why are u trying to create a discussion about this. Use the search tool. Its been discussed endlessly and does nothing for nobody.
TA/PA/FA arguments are as old as the hills, no point going blue in the face debating.
Personally it suits me other traders have rigid beliefs, the more they go down the rabbit hole the better.
Now where we, oh yes that's right, TA/PA is the best thing since sliced bread, better than magic but if you don't hold your mouth right you'll lose money.
Personally it suits me other traders have rigid beliefs, the more they go down the rabbit hole the better.
Now where we, oh yes that's right, TA/PA is the best thing since sliced bread, better than magic but if you don't hold your mouth right you'll lose money.
Good morning geth03,
I am currently an unprofitable trader. So take my words with no profitable value .
I respect and appreciate the debate. Thank you.
I think what you are challenging or asking is, does PA/TA have a consistent edge. And if yes, how much of an edge (expectancy). It's a fair question. Unfortunately, I doubt anyone will answer. After someone has worked hard for years developiing a profitable edge or income for theirself , they will not reveal proof of what makes them money on an open forum. Dumb money is needed for those with proper edges to take their money. So easier to keep dumb money blind and in the rabbit hole.
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Of course there's subjectivity involved in interpreting charts, that's what makes it a market. There are two broad groups involved in trading...those who have done the work and have identified an edge based on their interpretations AND have the disciplines to ply that edge and those who haven't and/or don't. Nobody is right all the time nor is it necessary to do very well as a trader.
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Very well stated speedo.
let me put it that way:
there is a group of TA/PA traders that are religiously fanatical. i do not think that there is any edge in TA/PA. TAnalysts are hindsight traders, they interpret price action / price moves after the move happens! like: that 5 min bar was a bullish candle with its range 4 times that large of previous 20 bars, so this breakout is legit. than price plummets, they call it head fake, fakeout, false breakout. and once again, in hindsight it was clear that they should have sold instead of bought the fucking bullish candle.
EVERYTHING IS CRYSTAL CLEAR IN HINDSIGHT. PREVIOUS PRICE ACTION IS NOT INDICATIVE OF FUTURE PRICE ACTION.
do you really think, the fucking HFT algos keep track of candle stick patterns, moving average crossovers, support and resistance levels? do you think the hedge fund guy is looking for head and shoulders patterns when he wants to hedge his exposure for an event thats coming?
lets say, one guy wants to hedge his stock exposure for the weekend. he buys 500 lots in the ES and fucks off. he is done. he leaves one fucking large green candle behind him. do you really want to make trading decisions based on his move?
how many guys of you did see track records of Al Brooks, Ken Calhoun, Steve Nison, FuturesTrader71?
there is one trader here that tries "to understand" Al Brooks for 13 YEARS NOW!!!!!
thats freakish, 13 YEARS!!!!
and still he thinks that it is his fault that he can not implement Al Brooks strategies FOR 13 YEARS!!!
look at the picture i attached. this is a prep from V-Zones.
he draws levels (his support and resistance) and price either will bounce off or trade through it.
once price trades through it can come back aka headfake or trade further on a retest aka Support becomes Resistance Level Flip.
i mean, c'mon you fucking moron. it is a no brainer that price can go up or down, is this really new information? this guy charges huge sums for this special trading course and lets people sign NDA's. every recording has the name of the course taker on it, so he can not share the course.
Attachments
Exactly my point .
Though the date of 20th of June isn't written in stone as summer solstice , things like leap years / variations in earth's orbit etc, can occasionally push solstice to the day after /before. ( And dependent wether in northern or southern hemisphere).
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how come that 100 guys looking at the one same chart come to 100 different conclusions?
one will see a head and shoulders pattern and go long, the other will see broken support becomes resistance and go short. the other 98 will see MA crossovers, RSI/MACD divergence, intermarket spread widening, candlestick pattern, huge order getting absorbed at price level xyz, market profile POC rejection, ABC swing, fibonacci, elliott wave......
if you did test your strategy and think it is statistical sound, when you have decent risk and money management strategy, if you really think you have an edge over other market participants, then yeah, go for it.
Hello geth03,
I appreciate the debate and conversation.
I respond to your question in blue.
Note: I am currently an unprofitable trader, so please take my comments as my own personal thoughts and experience. My comments hold NO profitable value, yet.
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