Nothing Beats Price Action, Everything Else is Derivative
- Thread starter MandelbrotSet
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I see what you are saying and I agree 100%.
I am including Techanical Analysis here as a subset of pure Price Action, as it is formed by it. But you can seperate it out, that's fine, and time is critical when observing setups and entering them (if scalping) so that is an important factor as well.
Speaking of scalping, the most successful (and safest) scalps are always made in the direction of the dominant trend with an eye to potential support/resistant levels to take profit ... if you don't scalp in the direction of the trend, quite often you will find that you have 5 seconds or less to exit your trade. :eek:
Oh I think the Jag-Bags over at Pureshit could come up with a way to charge suckers,,er..I mean noobies for an "Alex' Super Duper Price ACtion only room " and probably charge twice as much for it.
Price action rocks. I used every friggin indicator in the universe I think, and anything over 1 or 2 is Indicator Overkill imo.
Holy shit. I thread that in 3 pages has more nuggets of truth than 100 other threads combined. What is this a thread of realists only? .. 
I read Joe Ross, bought about 4 or 5 of his overpriced books about a decade or more ago. Overpriced yes, but the nuggets i gleaned have made me many returns so it was a great investment. Joe Ross spoke in plain tough love english because what he was telling the readers was plain talk simple truth about price action. I bought the first book and knew i was going to get the others except options and his sons one about the ponies. I knew plenty of greek restaurant owners in Chicago and the burbs to find out how to lose money at the tracks. I remember once i told "Nick" i was starting to trade futures and he said "i know how to lose a 100 grand in Gold real fast" .. :eek:
Agree with greddy..........bingo, aside from a dam straight old timer like a Joe Ross who can sell price action alone? Right on greddy, you get the brass ring for putting the myth of selling the latest, greatest bunch of "Witchcraft" to rest.
Personally i developed into a price action guy from the process of eliminiation, as my trading progressed i used less and less "TOYS" to understand what price might do next. Trial and error under fire taught me that "LESS IS BETTER". I became fully aware why 90% or more lose in a probability game. Kind of scary to tell you the truth how simple trading can be and still be a very difficult game to even consider to be on top of your game. Golf is you and the ball, anything beyond that is excuse why your score was bad. Trading is you and price. What more do we need to know?
I read Joe Ross, bought about 4 or 5 of his overpriced books about a decade or more ago. Overpriced yes, but the nuggets i gleaned have made me many returns so it was a great investment. Joe Ross spoke in plain tough love english because what he was telling the readers was plain talk simple truth about price action. I bought the first book and knew i was going to get the others except options and his sons one about the ponies. I knew plenty of greek restaurant owners in Chicago and the burbs to find out how to lose money at the tracks. I remember once i told "Nick" i was starting to trade futures and he said "i know how to lose a 100 grand in Gold real fast" .. :eek:
Agree with greddy..........bingo, aside from a dam straight old timer like a Joe Ross who can sell price action alone? Right on greddy, you get the brass ring for putting the myth of selling the latest, greatest bunch of "Witchcraft" to rest.
Personally i developed into a price action guy from the process of eliminiation, as my trading progressed i used less and less "TOYS" to understand what price might do next. Trial and error under fire taught me that "LESS IS BETTER". I became fully aware why 90% or more lose in a probability game. Kind of scary to tell you the truth how simple trading can be and still be a very difficult game to even consider to be on top of your game. Golf is you and the ball, anything beyond that is excuse why your score was bad. Trading is you and price. What more do we need to know?
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