Nothing Beats Price Action, Everything Else is Derivative

Status
Not open for further replies.
Quote from chowking:

ST,

I'm a novice trader and I enter trades on the NQ the same way you do, with the appearance of a 3BR on a retracement of a trend. I trade with PA only on a sim account. I place my limits around the half-way point of the 3rd bar. Most of the time though, the markets move too fast for the limit to be hit. Looking back, once the subsequent bars print, if I had gotten in the trade, I would have made money on the trade. You have any suggestions on improving my entries?

read my threads, and my market calls. The latest of which is:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=127406
 
Quote from riskfreetrading:

read my threads, and my market calls. The latest of which is:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=127406

If you can't post the trades you made then who really cares what you think? Everyone has an opinion on where the market will go. Making money is what it is all about, not making predictions hoping that one or two predictions are proven correct. You jump on everyone elses thread with your predictions and links. Go away moron, and start your own thread.
 
Quote from JSSPMK:

It's been a funny period, sometimes I take quite a beating to finally equalise EOD. I guess my style is better suited to faster pace markets, so last 3 months have been a tad shitty over here, maybe I drink too much tea :) Whilst DAX gone into some crazy p/a mode I made a switch to ES, I think I have to start moving back into DAX now. I guess OK sums it up pretty well, TY!


Go get 'em!!!! If I remember correctly, you were nailing the DAX with uncanny accuracy. Forex is something I never looked into, scared of it for some reason. :confused:

st
 
This should be read and reread by every wannabe trader out there every weekend until they make the first million.

Look for and let these tidbits from the artical sink in: 10-year rule, deliberate practice, the next level, consistent DELIBERATE practice, more is better, conditioning and practice.

Anyone that wants to improve must be ready to pay a dear price to get to the level needed to play this game without breaking a sweat.

I paid my dues, have you? .. :)

http://money.cnn.com/magazines/fortune/fortune_archive/2006/10/30/8391794/index.htm

Price is not all you need, you also must understand price alone to get inside the other players heads. Got ya.

While you are in the mood, try this one also.

http://www.wired.com/science/discoveries/magazine/15-06/ff_mindgames
 
Quote from chowking:

ST,

I'm a novice trader and I enter trades on the NQ the same way you do, with the appearance of a 3BR on a retracement of a trend. I trade with PA only on a sim account. I place my limits around the half-way point of the 3rd bar. Most of the time though, the markets move too fast for the limit to be hit. Looking back, once the subsequent bars print, if I had gotten in the trade, I would have made money on the trade. You have any suggestions on improving my entries?


You one post wonders have me wondering who attacked me in the past and now wants information under a new sock!!! LOL!!!!!! My PM inbox box is full of these. :)

I'll give you the benefit of doubt.........for now!! :)

I answered your question in detail somewhere on ET. Let me look for it and I'll try and re-post it to save me some typing. Typing ain't my thing!!!! :)

st
 
Quote from jack hershey:

You are very consistent in the mistakes you are making.

There are some good posts here that point these out in examples on the main topic. Try to review this thread and get straight on about three major things.
LOL jack.

I made that post @ 12:18pm.

The Close on the ES was @ 1439, and it proceeded to go to a Daily High of 1441 before turning around and dropping like a rock.

Now, if you caught that turn before the fact (and can do so consistently), please show us the proof, we'd absolutely LOVE to see it, all of us. Me, the other guys (and women if there are any) on the thread, spydertrader, your followers, the moderators and I'm sure even Baron himself.

I don't think we're gonna see any proof from you, either now or ever. So as far as I'm concerned, until I can catch all of the turns before or just as they are happening like you can in your fantasy trading, I'm going to go with the current dominant trend until it changes, and I'm going to advise other traders to go with the current, dominant trend until it changes, so long as we are putting real money, real trading careers and real-life hopes & dreams on the line, not that monoply stuff you adhere to.

P.S. Welcome back. :D
 
Quote from optioncoach:

Another long-winded thread of people arguing over whether it is Partly Cloudy or Partly Sunny. If you are making money who cares?
That's why it's all good OC.

That's why it's all good.
 
Quote from Stealth Trader:

You one post wonders have me wondering who attacked me in the past and now wants information under a new sock!!! LOL!!!!!! My PM inbox box is full of these. :)

I'll give you the benefit of doubt.........for now!! :)

I answered your question in detail somewhere on ET. Let me look for it and I'll try and re-post it to save me some typing. Typing ain't my thing!!!! :)

st

No, just a friendly fan from your posts in the AHG thread. I was impressed by the information you posted and am fully convinced by both you and Anek, that price is all that you need.
 
It seems there are those still trying to prove I am wrong, both in PM’s and here. Geeez.

About the short trade at the top today. I do not ever try to pick tops and bottoms. I do, however, fade into strong areas of S/R. This is nothing new; I have stated this time and time again for the past year or so. Pay attention! :) And for the record, I messed that trade up. I was correct in my analysis, but allowed myself to get shaken out by being distracted with ET. No excuses, I did what I did.

About S/R. People are not listening; I have posted in great detail how S/R areas are formed and why it is important to understand the psychology of the players when price approaches these areas. I am not trying to hoodwink anyone, but merely sharing how I trade. If you don’t like it or agree, move on.

I have said many times in various postings that it takes three things to succeed, in the following order of importance:

1. Psychology; yours and the markets.
2. Proper money management, including being well funded and strict risk control.
3. A proven forward tested strategy.

It seems there are those still in doubt about anyone being able to read a bar chart in real time. A 10K CVB ES chart is not that fast. Once a person masters the rules, seeing the setups in real time is not all that difficult. But I can assure you no one is going to master trading in this manner after a half ass effort over a course of a few days, especially with a non-believing mindset. If you don’t believe price continuously oscillates between two prior swing points, then I’ll direct you two blocks down to the CCI club where they don’t need any stinkin’ price. Having said that, I miss many trades, I have many losses. But it’s the end of the day results day in and day out that matters to me. Some of you should spend more time dealing why you are losing than trying to prove a workable method as being nothing more than zen voodoo.

I turn this discussion back over to your regular scheduled program.


st
 
Status
Not open for further replies.
Back
Top