Nothing Beats Price Action, Everything Else is Derivative

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Quote from austinp:

<i>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:
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I most certainly do. Can you say TV girlfirends? :D

NN
 
Quote from Joab:

Here is a very rudimentary price action analysis but sometimes it really is just this simple.

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
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Hi Joab thanks for posting your trade. I was long in that stock several weeks ago but dropped it. Too soon I guess. ;)

Can you explain more about your screen and what your entry point is? I don't see anything magic about 71.89. I see the double bottom, was that your clue?

Thanks for sharing.
 
Quote from NakedNote:

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
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Floor trader pivots are magnets, not necessarily final destinations.
 
trying to get into "go with the trend mentality". if spy breaks 140.16 (the high of the day) that should confirm the uptrend and if it goes below 139.0 (the low of the day) that should confirm the downtrend, right?
 
Quote from shortie:

trying to get into "go with the trend mentality". if spy breaks 140.16 (the high of the day) that should confirm the uptrend and if it goes below 139.0 (the low of the day) that should confirm the downtrend, right?
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This is the crux of trading according to "price action" ... you and only you define what the trend is for the instrument(s) that you are trading according to your frame-of-reference.

How do you know your definition is accurate and correct?

Like El Cubano said "your PnL". :)
 
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