Can you trade by price action alone?

[murray t turtle]

Quote from southall:

What is price alone anyway?


Moving averages, ATR, channel breakouts.. are these price action or indicators?

===============
South;
some use moving averages - to underline or overline price {in other words to highlight price, more so than an indicator.}............................. But some use those , not so much a selling indicator, but as a trend line,with discretion, so there is a big difference.

And just because the 6:00news may be the least helpul indicator ;
if one trades in New Orleans, mandatory hurricane exits,
may be helpful, for survival, sir.

So yes you could;
dosent mean one should

 

[bearnine]

Quote from Zr1Trader:

Price action alone. Not a good idea.

Price action, with some context, market structure knowledge, and some math is a great idea.



What I find comical is that the one time I do post a chart you think I'm using slight of hand when my entries and exits are right on the damn chart lol. Thats fine, I won't post any charts . Next time if I do ,I'll just take a picture with me holding my broker statement up next to my face. That should make sure and let everyone know I'm a true winner and serve my ego really well shouldn't it?

Do it.

 

[elliotwave]

if you pay attention, you'll see that you enter at the close minus 1 penny to account for bid ask spread, think you need to check a little closer

Quote from Zr1Trader:

This doesn't work because you can only enter at the close of the next bar after your signal to enter shows....

 

[Petrobras]

You cant trade on pure price action?

I think a lot of people here are swing or long term traders. Not intraday traders.

Look at this chart. Tell me why not. Why cant you trade the price and direction

 

[HustleThePlanet]

Quote from elliotwave:

lol... love it, everyone that has said they can trade by price action alone just proved they couldn't, everyone is negative, and pretty much gave up already, too funny...

The only thing you've managed to prove is that you yourself have no idea how to trade by price action, otherwise you would realize just how invalid your game is at measuring one's ability to trade by price action, and you wouldn't be touting it as being able to do so. The whole way its setup is so ridiculous that I don't even feel that it is necessary to get into the specifics of why I am saying this, it should be obvious.

That being said, I was still able to turn a profit. This series of trades started on first and only attempt, which continued until the game appeared to break. This includes overcoming several large losses I incurred early on while just trying to figure out how the game itself worked, initially I was only expecting one bar to pop up at a time for example.

Once I understood how the game itself worked, I easily pushed back into positive territory, and then the bars became too distorted and contracted to work with.

Edit: security threat was a false flag, my apologies

 

[elliotwave]

my bad, I was doing something else with because I didn't think anyone was using it, give it a try now, should be all working again, I checked the database, and you are correct, you are the only one that is profitable! good job, but wonder how you will do now that is back the way it was, 1 minute at a time, you were doing 1 day at a time i think...

Quote from HustleThePlanet:

The only thing you've managed to prove is that you yourself have no idea how to trade by price action, otherwise you would realize just how invalid your game is at measuring one's ability to trade by price action, and you wouldn't be touting it as being able to do so. The whole way its setup is so ridiculous that I don't even feel that it is necessary to get into the specifics of why I am saying this, it should be obvious.

That being said, I was still able to turn a profit. This series of trades started on first and only attempt, which continued until the game appeared to break. This includes overcoming several large losses I incurred early on while just trying to figure out how the game itself worked, initially I was only expecting one bar to pop up at a time for example.

Once I understood how the game itself worked, I easily pushed back into positive territory, and then the bars became too distorted and contracted to work with.

Edit: security threat was a false flag, my apologies

 

[traderslair]

If Al Brooks was a profitable trader he wouldn't write books or give webinars.

 

[trader198]

first you do not know what is the price action will be the next minute/hour/day. but you need know what those guys will do: cut loss, book profit, jump into chart setups, how will they react to what will happen or unexpected what happen....

when I turned on my computer pre-market, I noticed LULU dropped hard.
do I need follow this price action? just feel fishing.

I jumped to buy 30lots of 45 strike call in the opening. I reasoned the morning earning drop is a setup. what heck of following the price actionH I follow my hunch. sold at the closing, net nicely.

at the mean time, I saw INHX rallied pretty hard. when it hit 16+, just who cares, sold 3k to 16.4, shorted 15 strike call at 2.0 with 10lots. covered it at 14.9. still kept my 10lots call short.

like today, NQ is trading in a support/resistance range, but the trend up/down is not nice. can you copy the price action? no. either buy the support or sell the resistance, then ignore those back/forth in the middle,otherwise, you will be lost in the woods.

in order to trade successfully, you need a basic understanding about the inbalance of buyers/sellers. under what situation, what will they react.

price action or chart pattern can not predict what will happen. so it is useless.

 

[NoDoji]

I extracted this phrase because I have no idea what it means:

Quote from trader198:

can you copy the price action? no.

You don't copy price action; you allow price action to trigger entry into a trade, and to remove you from a trade that no longer offers you the risk:reward opportunity necessary to fulfill the goals of your trading plan in your trading time frame.

Quote from trader198:

like today, NQ is trading in a support/resistance range, but the trend up/down is not nice. either buy the support or sell the resistance, then ignore those back/forth in the middle,otherwise, you will be lost in the woods.

This is classic price action trading strategy when price is in a defined range.

Quote from trader198:

in order to trade successfully, you need a basic understanding about the inbalance of buyers/sellers. under what situation, what will they react.

Price action trading is nothing more than reading the clues about the imbalance between buyers/sellers offered by the behavior of price in your trading time frame.

Quote from trader198:

price action or chart pattern can not predict what will happen. so it is useless.

Nothing can predict what will happen next. Anything can happen at any time.

Many chart patterns result in significant price moves more often than not. "More often than not" in trading is known as an "edge". "Significant price moves" means a price move large enough that the odds of extracting your minimum profit requirement before the setup is invalidated are above average.

 

[trhudson]

It depends on what instrument you are trading as to how you trade price-action. Nothing works on everything. However there are many different forms of price-action trading.

Definitely do not listen to opinions of people that do not know. Do your own research it's a lot harder that way, but you will find the answer.