How many of you got faked out today?
- Thread starter 1a2b3cppp
- Start date
the simple price-action study I shared with anyone who cares to review it, free... no strings attached... is a tactical measurement of price projection based on price action itself
how do you think algos are programmed to operate? do you think they simply buy or sell at random and then fade their way against directional trends? or do you think they are programmed to enter and exit based upon mathematical stats?
the cause of that process is the affect(effect?) of price action seeking and meeting various distance price objectives.
to be super-simple, measurement of price action is pure cause - affect
oh i think it is a good free tool that a trader can think about. I think none of us really know how the algos work. These are billion dollar systems done by PhD Harvard guys, and I bet it is super complex.
Or, as we know with some systems, it's not about predicting anything. HFT systems could care less about anything TA related. It's latency.
We see price fall from some resistance level, and it's easy to say that this was important. but i'm sorry i would need a algo programmer to really come out and say, "yes, when this 5-min. extension reaches this....yes, we sell." and i have a very good feeling it's about 100,000 lines of code more.
as they say....."if it was easy, 90% wouldn't fail."
Quote from austinp:
http://traderkingdom.com/trading-to...g-price-action-to-determine-trading-sequences
If you knew the simple price-action measurement rules from 9:35am eastern this morning, you would have known it was high-odds to reverse upwards off premeasured price support zones.
Very simple, very objective, very effective price filtration tactic. No reason in the world for anyone to be "faked out" today... once they know the roadmap rules
Have you read any of Mark Fisher's stuff? I use ACD as a framework for trading and I find it works great as a general framework for price action.
Using my own methodology I create a road map prior to the open using volatility analysis among other things and identify important structural levels above and below.
I also prepare for and mentally rehearse different scenarios, so it is a rare day when I`m surprised by anything in the market.
Still, even with a roadmap, I need to predict direction and turning points multiple times when entering and exiting trades.
And I assume the same holds true for your fibonacci roadmap?
Some people use pivot points as their road map, but they still have to actually trade.
Price "prediction." Price "projection." I say tomato, you say to-mah-to.
I have no idea. Personally, I only know how to react to price action when it presently acts in a predetermined manner rather than anticipate/project/predict how it will act at some future point in time and place. Just pointing out my mortal limitations.
here's what I know for sure: in the time it takes me to snap a fib grid, I can tell from there past 9:35am eastern which way to lean at any given time with price-action bias on my side... way more often than not.
so can you, so can anyone else who cares about what the market itself has to share with us all
PLEASE GO DOWN