All the time I keep hearing about people trying to make money using price action, here on ET. However I have to remind you guys it is impossible to make money using price action.
Price action does not predict the future, nor does it provide a risk/reward set-up.
The only thing that can do that is technical analysis and money management. Whenever a guru talks about teaching you price action, they lie.
Price action is one of the most undefined areas of trading which means nobody knows what price action actually is. Since everybody has a different definition for price action it means price action, unlike tape reading, is a NON-existing occurence in the futures markets. All "price action" is random movement.
What should you do with this information? First of all not give any money to people who promise to teach you price action. Second you should never attempt to learn "price action". The fact that it's undefined means you could waste 10 years of your life learning something that is not price action at all. But that is the only 100% outcome, since price action does not exist.
Price action does not predict the future, nor does it provide a risk/reward set-up.
The only thing that can do that is technical analysis and money management. Whenever a guru talks about teaching you price action, they lie.
Price action is one of the most undefined areas of trading which means nobody knows what price action actually is. Since everybody has a different definition for price action it means price action, unlike tape reading, is a NON-existing occurence in the futures markets. All "price action" is random movement.What should you do with this information? First of all not give any money to people who promise to teach you price action. Second you should never attempt to learn "price action". The fact that it's undefined means you could waste 10 years of your life learning something that is not price action at all. But that is the only 100% outcome, since price action does not exist.
