IN THIS THREAD: IronFist learns (the elusive) PRICE ACTION

Quote from IronFist:

established up trend HH, HL, HH, HL, HH

Went long when green bar passed previous swing high.

Target was pivot point since price was close and I haven't learned anything about picking targets with Price Action. Seemed like a good point. In the past, I've usually been successful using pivot points as targets when price approaches.
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IF, when you take a trade you want to try to have a cluster of things in your favour.

It's a good signal you took, but it's a textbook example of misreading the market and putting the odds firmly against you. Furthermore mixing up aggressive and conservative signals due to the number of advisers you have is dangerous.

10/10 for signal recognition
0/10 for understanding where and when to pull the trigger.

See attached for explanation that I hope helps. If anyone tries to mystify you, use their post for toilet paper.
 

Attachments

Quote from IronFist:

From that chart it looks like all you would have to do is trade in the direction of your MA :D

(works great until price chops around the MA)
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why is that if im only trading the bar.... i trade the one hour bar at the end i close prob 85% ill hit target nother 7% prob i close the trade in profit at bar end and 3-5 % prob of me taking small loss on close of bar and that like 3-4% prob i really eat it and get stopped.

i dont get chopped ... you only experience chop if you hold more than one bar and remember i dont predict. the future i trade the current probabilities :) one bar at a time
three -four bar reverse bar...
gatekeeping...
and the wick fade...

remain calm let price come to you why do people hate simplicity? trend and resistance is illusion..
there is only bias and probabilities... think about every other trader out there calculating away on the other end...

90%+ traders are unprofitable
and remember those who cant do .... teach.....
so take the number of people that posted like they know something about pa multiply that by .1 and that the statistical amount that possibly could be profitable and remember they are teaching :).

im not trying to teach you everyone sees something different and has their own strats at more advanced levels. im simply trying to open your mind and help you see out the BS. trend and resistances are figments of overthinkers imaginations.

you want pa ... this sir.. is college level pa albeit slightly refined :)

Quote from Mandelbrotset
College Level Courses
You just told someone operating at an 8th grade level to do an advance college curricula.

That's just plain dumb.

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my inbox
 
Thanks for the replies so far!!

I will be out of town this weekend (so I'll only be able to browse this thread from my phone) but I'll be back here Monday morning.

nw31 check your PMs
 
Quote from nukethewhales31:

why is that if im only trading the bar.... i trade the one hour bar at the end i close prob 85% ill hit target nother 7% prob i close the trade in profit at bar end and 3-5 % prob of me taking small loss on close of bar and that like 3-4% prob i really eat it and get stopped.

i dont get chopped ... you only experience chop if you hold more than one bar and remember i dont predict. the future i trade the current probabilities :) one bar at a time
three -four bar reverse bar...
gatekeeping...
and the wick fade...

remain calm let price come to you why do people hate simplicity? trend and resistance is illusion..
there is only bias and probabilities... think about every other trader out there calculating away on the other end...

90%+ traders are unprofitable
and remember those who cant do .... teach.....
so take the number of people that posted like they know something about pa multiply that by .1 and that the statistical amount that possibly could be profitable and remember they are teaching :).

im not trying to teach you everyone sees something different and has their own strats at more advanced levels. im simply trying to open your mind and help you see out the BS. trend and resistances are figments of overthinkers imaginations.

you want pa ... this sir.. is college level pa albeit slightly refined :)



my inbox
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Nuke,

I haven't read the last number of pages, but I'm intrigued by your excellent post. You made some really smart comments and I'm wondering if you could expand on them.

I agree 100 percent that it's all about bias and probabilities and I've been trying to implement that in my trading and now I'm trying to get to the point where I see that resistance and trend are illusions.

Can you explain a little bit more about how you trade and how that fits in? It would be much appreciated.

Thanks in advance.

vb
 
Quote from vingbel:



I agree 100 percent that it's all about bias and probabilities and I've been trying to implement that in my trading and now I'm trying to get to the point where I see that resistance and trend are illusions.

vb
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Trend and resistance are not illusions...I'm not sure what crack you would have to be smoking to believe that, but its likely you simply dont understand them. I'm not saying you need them to trade profitably, I'm sure there are other ways, but this is the PA thread.
 
Quote from jonbig04:

Trend and resistance are not illusions...I'm not sure what crack you would have to be smoking to believe that, but its likely you simply dont understand them. I'm not saying you need them to trade profitably, I'm sure there are other ways, but this is the PA thread.
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Anyone who says trend and resistance are an illusion is a fool.

Anyone who believes it is a bigger fool.

Looks like this thread is hitting the atmospheric highs and is about to blast off into the stratosphere.

P.S. Please continue posting your after the fact charts while talking about nothing, nukethewhales; and please continue posting your real-time trade charts showing how you can't hit the side of a barn that you're 10 feet away from Iron Fist.

Between the two of you I don't believe there's been less valuable information ever posted on ET (not counting Jack Hershey, of course).
 
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