How to Learn Price Action

Quote from ProfLogic:

Thing of beauty it was.
I agree as well, emotions do not belong in trading.
There IS a means of telling how high is HIGH and how low is LOW but it takes practice and patience.
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can't really take credit for the poem ... just a ditty I found along the way. wonderful though it is.

As for Emotions, I think we have to be quite honest and admit that emotions will always be present in Trading to some degree... we are only human after all !!- but there comes a point, and its taken me a few years to get to grips with, where you can use your emotions in a beneficial way. I think those of us who have been around a while with consistency will agree. This daytrading lark is 99% psychological / crowd behaviour after all. IMHO :)
 
Quote from Kap:

can't really take credit for the poem ... just a ditty I found along the way. wonderful though it is.

As for Emotions, I think we have to be quite honest and admit that emotions will always be present in Trading to some degree... we are only human after all !!- but there comes a point, and its taken me a few years to get to grips with, where you can use your emotions in a beneficial way. I think those of us who have been around a while with consistency will agree. This daytrading lark is 99% psychological / crowd behaviour after all. IMHO :)
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I agree, emotions don't belong there but unless we are Vulcans, emotions will play into are decision making process.
Time and consistent success will allow us to manage them.
 
Quote from Dustin:

Just a note to those who looked at today's trades based on what I said yesterday. Today was the worst day for this type of trading since Jan 8th so don't be discouraged or dismiss it. Incredibly choppy ugly trading today.
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After yesterdays ugly trading, today we had great trends. There were a few textbook plays. I got a few PM's about this type of trading so I wanted to show a few examples just today.

Obviously the market was weak today so most of my volume was on the short side.

NVDA ATRO NTGR LIZ

All of these you could have shorted in the last 4 hours and never been stopped out. They all finished near their lows. I averaged 29 cps (cents per share) on these 4 trades for over $20k.

Beautiful easy trading...got to love it.
 
only one way...
watch it.

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Quote from ProfLogic:

Sierra offers VB charts but was told they aren't accurate. They aren't capped or constant. I only know, first hand of two charting packages that accurately offer them, Ensign and MultiCharts.
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How do you tell if it's accurate? I have sierra and if I put volume indicator below the chart all the bars are equal to the volume setting.
 
Quote from bigarrow:

How do you tell if it's accurate? I have sierra and if I put volume indicator below the chart all the bars are equal to the volume setting.
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If you have a way to verify that each volume bar is capped at a specific amount,that is great then they fixed them. They used to not be capped.
 
Quote from Dustin:

First and best advice I would give to any struggling trader:

For one year you are only allowed to buy strong stocks, and only allowed to sell weak stocks.

If every trader on this site followed this, half of you would be profitable overnight. It's just against human nature so most can't follow the rule.
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How do you fine strong and what do you define as weak?

Are you refering to technicals strong/weak or funnymentals or industry? Or all?
 
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