Nothing Beats Price Action, Everything Else is Derivative
- Thread starter MandelbrotSet
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Here is a very rudimentary price action analysis but sometimes it really is just this simple.
http://charts.dacharts.com/2008-05-20/SSP69.png
watch SD tomorrow it "may" do the same thing.
All candidates are screened the night before or after the first 15 minutes of trading (new highs - new lows)
your simply looking for stocks that have a high probability of making large wide range moves with expanding volatility
they don't all work out perfectly but 3-4 of these a month is all you need and the rest you can lose a little or make a little
http://charts.dacharts.com/2008-05-20/SSP69.png
watch SD tomorrow it "may" do the same thing.
All candidates are screened the night before or after the first 15 minutes of trading (new highs - new lows)
your simply looking for stocks that have a high probability of making large wide range moves with expanding volatility
they don't all work out perfectly but 3-4 of these a month is all you need and the rest you can lose a little or make a little
hpt
Ok, i will take your word for it without going back and reread the post. I personally hardly ever go back and read responses of what i post, i assume some will take it for face value and others will try and shoot it down because they have no idea what i was trying to get across. But you did not go apeshit on me so i will call it all good.
Some of us know what others are talking about because we have dug a few foxholes before and know when someone tries to flame us have been in real battles before.
Posting in ET forums can be a challenge because guys like you or i tell the truth and that is easy. Many other posters are trying to blow some smoke up our shorts and defend themself until they turn blue. Gee, did i mention the truth does not need defending because the truth speaks for itself?
You guys that are all wet know who you are.
Good news hoggie is gonna drop off the forums map, maybe a post now and then but unlike this last month, the heck with all this. Many will be glad to hear that, the defenders of the "STROKE JOB" especially. ..
You guys that got some value from a post now and then, GOOD for you, open minds are needed more in trading than any other profession i can imagine.
Ok, i will take your word for it without going back and reread the post. I personally hardly ever go back and read responses of what i post, i assume some will take it for face value and others will try and shoot it down because they have no idea what i was trying to get across. But you did not go apeshit on me so i will call it all good.
Some of us know what others are talking about because we have dug a few foxholes before and know when someone tries to flame us have been in real battles before.
Posting in ET forums can be a challenge because guys like you or i tell the truth and that is easy. Many other posters are trying to blow some smoke up our shorts and defend themself until they turn blue. Gee, did i mention the truth does not need defending because the truth speaks for itself?
You guys that are all wet know who you are.
Good news hoggie is gonna drop off the forums map, maybe a post now and then but unlike this last month, the heck with all this. Many will be glad to hear that, the defenders of the "STROKE JOB" especially. ..
You guys that got some value from a post now and then, GOOD for you, open minds are needed more in trading than any other profession i can imagine.
Some follow up from yesterdays SD.
http://charts.dacharts.com/2008-05-21/SSP70.png
Today was the day to take the Lions share from the Indexs.
http://charts.dacharts.com/2008-05-21/SSP71.png
http://charts.dacharts.com/2008-05-21/SSP73.png
Price action IS the best way to trade BUT why just use it for quarters and dimes.
I say find the volatility and trade it for dollars.
Think BIG as a trader because there will be lots of small loses and you need the BIG ones if your going to survive the rest of the time.
http://charts.dacharts.com/2008-05-21/SSP70.png
Today was the day to take the Lions share from the Indexs.
http://charts.dacharts.com/2008-05-21/SSP71.png
http://charts.dacharts.com/2008-05-21/SSP73.png
Price action IS the best way to trade BUT why just use it for quarters and dimes.
I say find the volatility and trade it for dollars.
Think BIG as a trader because there will be lots of small loses and you need the BIG ones if your going to survive the rest of the time.
Real-time action is below. After NDX deadly calls (for the bulls) of Yours Truly, now watch him use price action to kill "european/usd" bulls in real-time to make short term dollars. Details below:
Today the ES opened inside of yesterday's choppy, sloppy, sideways range and rolled thru those levels into the afternoon.
Once it failed at 1415 resistance, sell signals were confirmed.
Once it broke 1410 ~ 1409 S1 and prior session lows, sell with both hands.
Once it took out S2 with gusto, sell every lift that rears its foolish bull head. Short from 1400 and 1395 into the close were gifts.
First trend day following tight-range congestion usually runs deep. The fact that Feds admit in private that they've lied about economic outlook in public AND there will be no further rate cuts meant every feeble lift would be dumped on with supply.
Congestive and choppy from Tuesday morning thru Wednesday 1pm est fedspeak. The FOMC minutes at 2pm were gasoline and lighted flare tossed on a tinderbox.
Once it failed at 1415 resistance, sell signals were confirmed.
Once it broke 1410 ~ 1409 S1 and prior session lows, sell with both hands.
Once it took out S2 with gusto, sell every lift that rears its foolish bull head. Short from 1400 and 1395 into the close were gifts.
First trend day following tight-range congestion usually runs deep. The fact that Feds admit in private that they've lied about economic outlook in public AND there will be no further rate cuts meant every feeble lift would be dumped on with supply.
Congestive and choppy from Tuesday morning thru Wednesday 1pm est fedspeak. The FOMC minutes at 2pm were gasoline and lighted flare tossed on a tinderbox.
AustinP,
As years of trading went by I realized the floor pivots are no longer needed once price action analysis is applied.
Notice how the market was immune to S2.
Sometimes it does look nice but in the end you are better off with what works consistently.
Nowadays market profile is more useful than floor pivots and still I say price alone will give you the unbiased psychology that is required for intraday scalping.
However, if you still find them useful, more power to use.
NN
As years of trading went by I realized the floor pivots are no longer needed once price action analysis is applied.
Notice how the market was immune to S2.
Sometimes it does look nice but in the end you are better off with what works consistently.
Nowadays market profile is more useful than floor pivots and still I say price alone will give you the unbiased psychology that is required for intraday scalping.
However, if you still find them useful, more power to use.
NN
<i>As years of trading went by I realized the floor pivots are no longer needed once price action analysis is applied.</i>
They are helpful points of reference, equal to MP or other volume studies of any kind. None of those are any more or less important, agreed.
My actual trade signal chart has nothing but price bars. Bare as Brooke Shields used to be inside her Jordache jeans, if you're old enough to recall those tv commercials from a few decades ago :eek:
Edit: oops... I meant Calvin Klein jeans. I remembered what she wore beneath them, just forgot which overpriced designer label was pasted on. Advertising dollars worked for retention, just not brand name in my case
They are helpful points of reference, equal to MP or other volume studies of any kind. None of those are any more or less important, agreed.
My actual trade signal chart has nothing but price bars. Bare as Brooke Shields used to be inside her Jordache jeans, if you're old enough to recall those tv commercials from a few decades ago :eek:
Edit: oops... I meant Calvin Klein jeans. I remembered what she wore beneath them, just forgot which overpriced designer label was pasted on. Advertising dollars worked for retention, just not brand name in my case
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