Did DB and the Price Action Scribblers Throw in the Towel?

londonkid · Jul 9, 2015

hitchslap said:
One needs an actual edge. 'Price action' doesn't cut the mustard so I'm not surprised that you've been unable to find a 'price action trader' able to prove any sort of consistent profitability.

If you had said '95%+ of price action' doesn't cut the mustard I would agree with you but saying price action cannot be profitable is not correct in my opinion. I suppose it depends on what you call price action. I only look at price and time when I trade, nothing else. Does that mean I am a price action trader? I suppose so. You want proof that a price action trader can be profitable. The problem you have is that naturally 95%+ of people don't have that proof. The small number of people who do have the proof may have issues of privacy, edge reverse engineering in addition to not having any motivation to prove someone wrong on an anonymous internet forum. A couple of posts ago I posted my combine result and I am a price action trader. of course i got lucky right? GL

londonkid · Jul 9, 2015

marketsurfer said:
The recent volatility has wiped out multiple naive traders such as the price action folks, straight liners and scribblers.

They likely have turned to art or something as that is their talent.

surf

steady on Surf. If you have found success with your price drivers then great but don't dismiss all other types of trading. That's all or nothing thinking which is emotionally driven. Rational thinking is that there could be a few profitable traders who use different methods out there. For all we know there might be a small percentage of profitable straight liners out there or 'scribblers' whatever that is. GL.

londonkid · Jul 9, 2015

marketsurfer said:
Yeah. They seem to make money at times but not consistently.

everyone makes money some of the time. if they didn't nobody would come back to the casino.

londonkid · Jul 9, 2015

Tavurth said:
I've also noticed a fluctuation in both the posting quality and quantity of users here on ET.

How were you measuring the quality of users? I don't see too many people posting up broker statements.lol

SunTrader · Jul 9, 2015

Whole lotta generalizations flying around this topic - starting with the OP.

marketsurfer · Jul 9, 2015

londonkid said:
steady on Surf. If you have found success with your price drivers then great but don't dismiss all other types of trading. That's all or nothing thinking which is emotionally driven. Rational thinking is that there could be a few profitable traders who use different methods out there. For all we know there might be a small percentage of profitable straight liners out there or 'scribblers' whatever that is. GL.

Sure, there may be a few savants who via intuitive gifts and strong money management skills who can do it.

My contention is thst the way the scribblers stright liners breathlessly and verbosely preach and teach in these forums is fatally flawed Not to mention, even fewer savants want to teach and are often loner genius types. Outliers in other words which makes the success of the tribe here even more unlikely.

Having known many succesful traders, these folks simply dont fit the profile and in fact, seem to be the type most attracted to the market who are the ones most likely to lose.

Just my observations, surf

samuel11 · Jul 9, 2015

At least Surf posts his trades. And I’m thankful for that.

londonkid · Jul 9, 2015

marketsurfer said:
Sure, there may be a few savants who via intuitive gifts and strong money management skills who can do it.

My contention is thst the way the scribblers stright liners breathlessly and verbosely preach and teach in these forums is fatally flawed Not to mention, even fewer savants want to teach and are often loner genius types. Outliers in other words which makes the success of the tribe here even more unlikely.

Having known many succesful traders, these folks simply dont fit the profile and in fact, seem to be the type most attracted to the market who are the ones most likely to lose.

Just my observations, surf

Nah you are wriggling. You are saying the price action savants success is due to money management and intuition carefully sidestepping the method. I love straight lines as long as they are vertical or horizontal.

marketsurfer · Jul 9, 2015

londonkid said:
Nah you are wriggling. You are saying the price action savants success is due to money management and intuition carefully sidestepping the method. I love straight lines as long as they are vertical or horizontal.

Ok. Ill be direct. There's no edge to the method. The method is fatally flawed on numerous levels. But heck, astrologer arch crawford has the top performing timing newsletter of all time. Isnt astro fatally flawed?

londonkid · Jul 9, 2015

marketsurfer said:
Ok. Ill be direct. There's no edge to the method. The method is fatally flawed on numerous levels. But heck, astrologer arch crawford has the top performing timing newsletter of all time. Isnt astro fatally flawed?

So to confirm you dont believe its possible to have an edge trading just with time and price?