Nothing Beats Price Action, Everything Else is Derivative

[NakedNote]

Quote from truedat:

If that's true then why do you need the histogram?

Because he can't read highs and lows in real time failing to take advantage of the best edge in trading therefore relying on indicators to make up for his lack of skill.

Sounds harsh but it's the way it goes. You can't beat price and if you try to make a summary of what price is doing it will undoubtedly be a slower summary ,rendering it, inferior.

NN

 

[Stealth Trader]

Quote from slapshot:

I have no idea who you are barking at, but allow me to intervene.........

QUESTION NUMBER ONE:

Take a good histogram indicator that on a modern sofware platform updates tick-by-tick, right along with price. It is based on price. It updates exactly along with price.

So how does this lag any more than your human interpretation of price when it is happening at the exact same time? The graphic visual display hits the charts at the exact same moment - tell me how this lags!

Please explain this . . .

Perhaps the better question would be what does a histogram give you that price will not.

Quote from slapshot:


And while we are at it, basically there has been two main themes or definitions of PA discussed:

1) Tape Reading (the DOM or T&S) as PA

2) Price Bar Reading (Trend, Pivots, Higher-Highs, etc.) as PA

So there apparently is no one "true price action"

A scalper uses tape price action to scalp and would think that a trend is not true price action

A pivot trader is less worried about T&S and more worried about reading the highs/lows of the bars and S/R.

And yet both can make money.

So which one are you defending? Since trading what you see is all about perception, what do you perceive as the "only way" to trade well?

Please explain this . . .

One and the same, just read from a different platform, usually due to length of time in trade preference. That being said, most, if not all DOM/Level3/T&S readers still refer to charts or past price for S/R levels. Therefore, your question is moot, as plotting the trend is not the same as reading the trend.

(And by the way, I am a price action trader,

Your questions indicate otherwise. As such, perhaps you should defend YOUR stand as to what you define a "price action trader" to be. Then we can clear up your confusion on this matter.

You're welcome.

st

 

[slapshot]

Quote from truedat:

If that's true then why do you need the histogram?

I did not say I need one, I merely said they update instantly at the same time as price so I don't understand why people say they lag. Certain indicators don't lag at all. Some do.

For me, it helps to show DIVERGENCE that just pure PA alone doesn't graphically represent very well. It simply is a convenience for when I walk away from the screen for a while and when I sit back down, once glance at the indicator tells me what I need to know much easier than "replaying" the PA in my head.

I do not use indicators as a strategy or method.

 

[slapshot]

Quote from MandelbrotSet:

All that *#@!#!*Z1!! work and you're just playing "devils advocate"?

Mister, I'm a busy man. Go troll someplace else.

Bye

I'll be happy to go because you are a rude little punk.

 

[slapshot]

Quote from NakedNote:

Because he can't read highs and lows in real time failing to take advantage of the best edge in trading therefore relying on indicators to make up for his lack of skill.

NN

I never said I needed an indicator to trade, you didn't even read what I wrote, punk.

 

[slapshot]

Between NakedNote and Mandelbrot, ET has entered a whole new era of rude, arrogant little trolls.

I've blocked you both so don't bother.

 

[MandelbrotSet]

Quote from slapshot:

Between NakedNote and Mandelbrot, ET has entered a whole new era of rude, arrogant little trolls.

I've blocked you both so don't bother.

Thank you

You could have done that at the very beginning and saved all of us a lot of time and effort today.
***
Stealth Trader was nice enough to provide charts (ie, still picures) showing what good technical analysis looks like. They can serve as a beginning to help you identify a trend, and then you merely need to enter a trade when the price action moves in the direction of that trend.

Just remember the pictures are static, but when you are trading everything is dynamic and you need to keep your eye on the ball for the duration of the trade.

This is the exact same definition I gave to ammo earlier, and it held true today in all the markets I was observing/trading, it will hold true next Monday, and it will also be true 3 weeks from now.

 

[NakedNote]

Quote from slapshot:

I never said I needed an indicator to trade, you didn't even read what I wrote, punk.

Sorry, disagree once again.

You were the rude one who claimed to do better using "some sort" of indicator on a previous post.

I gave you the benefit of the doubt and politely asked you for screenshots and you quickly ditched the idea because I'm "New" and were afraid of criticism.

If you are going to claim superiority, prove it, otherwise shut the hell up.

I'll continue to stick to my philosophy.
Price and trendlines and to a lesser degree volume. Everything else is a complete waste of time.

NN

 

[riskfreetrading]

Quote from slapshot:

I'll be happy to go because you are a rude little punk.

Do not go. You made many insightful comments. Other people read what you wrote. Ignore them.

PS:

1. Mandelbroset=HolyGrail?
2. HolyGrail is a liar (I mean real liar against facts, and he did not retract his lies identified with published numbers)

Evidence is here:


http://www.elitetrader.com/vb/showthread.php?s=&threadid=99143&perpage=6&pagenumber=227

http://www.elitetrader.com/vb/showthread.php?s=&threadid=127201&perpage=6&pagenumber=4

 

[jeffizcool]

Quote from slapshot:

QUESTION NUMBER ONE:

Take a good histogram indicator that on a modern sofware platform updates tick-by-tick, right along with price. It is based on price. It updates exactly along with price.

So how does this lag any more than your human interpretation of price when it is happening at the exact same time? The graphic visual display hits the charts at the exact same moment - tell me how this lags!

Please explain this . . .

Look at it this way Indicators are filters. using your brain to trade is also filter(this one must be used).
Trading with an indicator is equivalent of you trying to figure out price from watching a video of a video. imagine staring at a chart on a monitor that is showing another monitor of that chart.
It is much better to train your brain to figure it from the raw data(if you truly beleive in your brain power) out then interpret a filtered product. That is looking at it from a very low level but that is what it basically comes down to.
But.....I do use some indicators to help with my longer term perspective of price. It is a crutch but i use it knowing that(I use some moving aver.). ultimatley though price is king and the present(what is happening now) is what matters.
I get your point about using nothing else but I think some people can but they are more gifted or have trained their brains to do all the work. imo :-D