Price Action Traders

[bearmountain]

Who are good pure price action traders that are still active in ET? I have read the old excellent threads (from 2007/2008) by anek, stealth trader and sussanaDT but they I believe are long gone.

Does anyone know if stealth trader is still active in other fourms or perhaps here under a different name?

Thanks

 

[ProfLogic]

Please define what YOU mean by "price action".

 

[Arthur Deco]

I think NoDoji is the reigning queen of price action here today. Best I can tell she doesn't do volume. And only minimal indicators.

 

[bearmountain]

Quote from ProfLogic:

Please define what YOU mean by "price action".

well, I seem to prefer not so much chart patterns of price like head and shoulders etc, but just looking at HH, HL and to some extent S/R.

I like stealth traders plain and simple price action reading method. so if the price is making hh, hl is an uptrend and the first lh or ll is start of chop.

I believe stealth trader credits you proflogic in showing him the value of volume based charts.

Thanks

 

[Arthur Deco]

Volume based charts ain't price action. And NoDoji does the HH/LL thingie.

 

[bearmountain]

Quote from Arthur Deco:

Volume based charts ain't price action. And NoDoji does the HH/LL thingie.

thanks for the heads up, NoDoji 4000+ posts, damn

volume charts I think are pretty cool, much better than time based charts.

 

[ProfLogic]

Quote from Arthur Deco:

Volume based charts ain't price action. And NoDoji does the HH/LL thingie.

IMHO -

Price Action is simply the fluid movement of price as it is shown and oscillates inside each specific chart increment. The smoother the fluid movement the easier it is to read and thus easier to trade.

This is why people that try volume charts love them so much. There is nothing artificial about them and nothing calculated. They are purely price and volume contained in a static bar.
The HH, HL, LL & LH oscillations contained in those charts are easily recognized, read and traded.

Here is the swing Aussy Dollar futures chart for the last 3 months as an example, not cherry picked because it is a fluid amount of time. The buy, sell, exit, profit and loss labels are computer generated and labeled in real time as well.

 

[ivanbaj]

I use PA. If the P goes up I buy. If the P goes down I sell.

This can also be given as:

Buy High and Sell Higher
Sell Low and Buy Lower

or

The Trend is your Friend (except at the end when it bends. Ed Seykota)

Don't bend the Trend
Don't Fight the Trend

or

Never add to a loosing trade
Don't sell on a bullish day and don't buy on a bearish day
In a bullish market buy on dips and in a bearish market sell on rallies



pessimism is your friend, euphoria the enemy.
Buffet

It is vain to do with more what can be done with less.
William of Occam

All courses of action are risky, so prudence is not in avoiding danger (it’s impossible), but calculating risk and acting decisively. Make mistakes of ambition and not mistakes of sloth. Develop the strength to do bold things, not the strength to suffer.
Niccolo Machiavelli

If you must play, decide on three things at the start: the rules of the game, the stakes, and the quitting time.
Chinese Proverb

Fish see the bait, but not the hook; men see the profit, but not the peril.
Chinese Proverb

Action may not always bring happiness, but there is no happiness without action.
Benjamin Disraeli

Anyone who lives within their means suffers from a lack of imagination.
Oscar Wilde



It’s lonely at the top. Ninety-eight percent of the people in this world are convinced they are incapable of achieving great things. So they aim for the mediocre. The level of competition is thus fiercest for ‘realistic’ and ‘mediocre’ goals, paradoxically making them the most time and energy-consuming, and the most difficult to achieve. Do not overestimate the competition and underestimate yourself. Unreasonable and ‘unrealistic’ goals are easier to achieve than you think.
Timothy Ferriss

P.S.

Found more:

It is not ours to be bullish or bearish, but to be right.
Jesse Livermore

A trader’s job description is stunningly simple: don’t lose money.
Richard Donchian

 

[Arthur Deco]

Define it as you like, ProfIllogic. This IS ET. Nobody knows any better. But the current maven of price action, Al Brooks, don't say nuttin' 'bout bowelume. So don't all the udder auteurs listed providently on Amazin. No disrespect to you distended.

 

[Arthur Deco]

Quote from bearmountain:

thanks for the heads up, NoDoji 4000+ posts, damn

volume charts I think are pretty cool, much better than time based charts.

Send her a PM and beg her to come here and deplain her methods. She loves the detention.