Price Action Traders
- Thread starter bearmountain
- Start date
To be fair, I haven't read your message post elsewhere here at ET nor at any other forum. Thus, I don't know whom you've been receiving recommendations from.
Secondly, I can only respond to your OP thread question...
Basically you asked "whom are the pure price action traders that are active here at EliteTrader.com" (please re-read your opening statement in this thread). Thus, my entire response has been based upon that question. Also, I believe it was NoDoji that recommended AL Brooks to you in this thread.
Simply, the reason why I never recommended Wyckoff or Edward and Magee or Humphrey Neil or Vadym Graife is due to the fact they are NOT ACTIVE ET members based upon your question. Just the same, I never recommended Al Brooks (as stated before) because he's not an ET member in the past nor current.
Ok...now that we got the above facts cleared up.
Here's another fact, I don't use indicators. Therefore, I have no interest to learn how to use indicators from anyone. Thus, I'm not interested in learning Al Brooks methods after learning from No Doji that he does uses an indicator. Hopefully you can understand why I'm not going to explore his method especially considering I have my own method that works for me. Thus, don't take it personally, the issue isn't that he has helped others or not...he uses a method that's not suitable for my trading style nor am I willing to explore the method of anyone else that uses indicators.
However, I do understand now that your initial question has changed from PURE PRICE ACTION to those that uses INDICATORS in combo with PRICE ACTION. Thus, now that No Doji has given me confirmation about Al Brooks and this thread has now seem to be about Al Brooks and not about active ET members using Pure Price Action.
I no longer have a reason to post in this thread. Good luck with Al Brooks method and if you read long enough here at ET you'll find out own your own whom are the pure price action traders that are still active in posting at EliteTrader.com if you haven't gotten answers to your original question.
Also, if indicators work for you...more power to you and continue using them.
Mark
Anyone desiring to debate brookâs book â start a thread and Iâll join inâ¦
Just realize I am in the process of rewriting every page of that hard reading thing â into plain ole easy to understand Englishâ¦
So I get what heâs written - frankly some of it I agree with, some of I don't..
But no matter as it is simply another tool to be utilized - to the best of our ability - to make money
And should anyone wonder why I would go to all the trouble â because I am firstâ¦, foremostâ¦, and alwaysâ¦, â a student of the market â and to be a student â I must studyâ¦
===============================================================================
Alrighty BM
Hereâs a few thoughts on actual PA
PA can be used on an over all chartâ¦a section of a chart⦠or bar by bar â (I think most take the 50,000 foot view and never dive into the heart of PA) â May I recommend you dive into the heart of PA
Print out some charts and role play â put your self in the shortâs place, then the longâs place â how would you feel, how would you react, where would you enter/ exit place your stops for each⦠And compare that to what actually happened â This will give you insight on how to take advantage of the other side â and the psychology involved
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Every bar gives information, and is tradable (the information part Iâll leave for you to figure outâ¦, the tradable part is; enter, exit, stand pat â while either in a trade, or on the side lines)
A bar can mean two completely opposite things â the specific context in which the bar occurs is all important
Btw one reason I think people have such a hard time with PA is they want things to fit in nice tidy packages â unfortunately not much in trading is nice or tidy
Notice how â at times â a bar will do one thing â then right before it closes â do the exact opposite⦠(games to catch the inexperienced)
Also notice how up â is sometimes down â and down â is sometimes up⦠let me explain
On some trending days all the large (large being relatively of course) bars/ âset upsâ are in the opposite direction of the trend â but at the end of the day a trend in the opposite direction is clearly visibleâ¦. (more games to catch the inexperienced)
Look for failures, and/or failures that fail
Small bars = lack of interest⦠or a huge fight ensuing where neither the longs or shorts are in charge â but want to be
Big bars = one side is in charge⦠and the other side is changing their minds
Small and big are relative â again context is all importantâ¦
Strength is reflected in down bars/ candles
Weakness is reflected in up bars/ candles
however
An up bar/ candle with no upper tail = strong buying (buying occurring right up into the close)
A down bar/ candle with no lower tail = strong selling (selling occurring right up into the close)
Appears Iâve just contradicted my self doesnât it⦠remember context⦠always contextâ¦The devil is truly in the details
To keep it real â There are two big ass caveats to this â be on the look out for themâ¦
Think of each bar as a trading range â donât buy high or sell low â unless you truly think price is headed in that direction â most of the time buy low and sell highâ¦
Come to expect overruns and overshoots as SOP (remember things seldom fit in to nice tidy packages with regard to trading)
As you develop a PA traderâs eye â think about where you would place your stop â if you were a less experienced trader â the goal is make that one of your entry...
Learn to visualize how bars / candles are forming on your âtradingâ chart â as theyâre forming⦠Itâll give you insight to what has occurred on smaller time frames (smaller time frame bars make up larger timeframe bars) and what is likely going to happen on larger time frames (the larger timeframe bars are forming right before your eyes)
-------------------------------------------------------------------------------------------------------------------------------
For each buy transaction there is a sell transaction â and vise versa
But price only moves because of demand â either someone is willing to buy at higher prices â or theyâre notâ¦
(btw itâs important to understand who the âsome onesâ are/ could be â but thatâs a completely different conservation for another day perhaps)
-------------------------------------------------------------------------------------------------------------------------------
I hope this gives you some food for thought to press forwardâ¦.
RN
eta - this is only the very teeny tip of the iceberg
Just realize I am in the process of rewriting every page of that hard reading thing â into plain ole easy to understand Englishâ¦
So I get what heâs written - frankly some of it I agree with, some of I don't..
But no matter as it is simply another tool to be utilized - to the best of our ability - to make money
And should anyone wonder why I would go to all the trouble â because I am firstâ¦, foremostâ¦, and alwaysâ¦, â a student of the market â and to be a student â I must studyâ¦
===============================================================================
Alrighty BM
Hereâs a few thoughts on actual PA
PA can be used on an over all chartâ¦a section of a chart⦠or bar by bar â (I think most take the 50,000 foot view and never dive into the heart of PA) â May I recommend you dive into the heart of PA
Print out some charts and role play â put your self in the shortâs place, then the longâs place â how would you feel, how would you react, where would you enter/ exit place your stops for each⦠And compare that to what actually happened â This will give you insight on how to take advantage of the other side â and the psychology involved
-------------------------------------------------------------------------------------------------------------------------------
Every bar gives information, and is tradable (the information part Iâll leave for you to figure outâ¦, the tradable part is; enter, exit, stand pat â while either in a trade, or on the side lines)
A bar can mean two completely opposite things â the specific context in which the bar occurs is all important
Btw one reason I think people have such a hard time with PA is they want things to fit in nice tidy packages â unfortunately not much in trading is nice or tidy
Notice how â at times â a bar will do one thing â then right before it closes â do the exact opposite⦠(games to catch the inexperienced)
Also notice how up â is sometimes down â and down â is sometimes up⦠let me explain
On some trending days all the large (large being relatively of course) bars/ âset upsâ are in the opposite direction of the trend â but at the end of the day a trend in the opposite direction is clearly visibleâ¦. (more games to catch the inexperienced)
Look for failures, and/or failures that fail
Small bars = lack of interest⦠or a huge fight ensuing where neither the longs or shorts are in charge â but want to be
Big bars = one side is in charge⦠and the other side is changing their minds
Small and big are relative â again context is all importantâ¦
Strength is reflected in down bars/ candles
Weakness is reflected in up bars/ candles
however
An up bar/ candle with no upper tail = strong buying (buying occurring right up into the close)
A down bar/ candle with no lower tail = strong selling (selling occurring right up into the close)
Appears Iâve just contradicted my self doesnât it⦠remember context⦠always contextâ¦The devil is truly in the details
To keep it real â There are two big ass caveats to this â be on the look out for themâ¦
Think of each bar as a trading range â donât buy high or sell low â unless you truly think price is headed in that direction â most of the time buy low and sell highâ¦
Come to expect overruns and overshoots as SOP (remember things seldom fit in to nice tidy packages with regard to trading)
As you develop a PA traderâs eye â think about where you would place your stop â if you were a less experienced trader â the goal is make that one of your entry...
Learn to visualize how bars / candles are forming on your âtradingâ chart â as theyâre forming⦠Itâll give you insight to what has occurred on smaller time frames (smaller time frame bars make up larger timeframe bars) and what is likely going to happen on larger time frames (the larger timeframe bars are forming right before your eyes)
-------------------------------------------------------------------------------------------------------------------------------
For each buy transaction there is a sell transaction â and vise versa
But price only moves because of demand â either someone is willing to buy at higher prices â or theyâre notâ¦
(btw itâs important to understand who the âsome onesâ are/ could be â but thatâs a completely different conservation for another day perhaps)
-------------------------------------------------------------------------------------------------------------------------------
I hope this gives you some food for thought to press forwardâ¦.
RN
eta - this is only the very teeny tip of the iceberg
Print out some charts and role play â put your self in the shortâs place, then the longâs place â how would you feel, how would you react, where would you enter/ exit place your stops for each⦠And compare that to what actually happened â This will give you insight on how to take advantage of the other side â and the psychology involved
eureka to the fortunate.
eureka to the fortunate.
Great post, Redneck, and thanks. You've given this beginner a lot of food for thought. I will be chewing on it for a while!
I've got Al Brooks book...not an easy read. I'd sure love to see your rewrite. Maybe that way I can at least have some of this stuff figured out before I'm too old to use it!
====================
Bear Trader;
While thats a good question[pppa/pure price action trade];
probably no such thing-because E mini market in no way resembles real estate,mrket evenas your question suggests, one could trade profitably with price action alone, why handicap yourself??????
If one had to chose price or fundamantals , chose price;
but why handicap yourself???????.
Wisdom is profitable to direct.
Just finished up chapter 5 this past weekend
Man what a chore â so far filled up 1 1/2 notebooks
Donât know if my chicken scratches are any better â but at least I understand them....
I still donât get the H1/ H2⦠L1 L2 thing at allâ¦.
And I donât use the micro trend lines either
But the rest â not badâ¦. so far
RN
Man what a chore â so far filled up 1 1/2 notebooks
Donât know if my chicken scratches are any better â but at least I understand them....
I still donât get the H1/ H2⦠L1 L2 thing at allâ¦.
And I donât use the micro trend lines either
But the rest â not badâ¦. so far
RN
I watched the Las Vegas webinar with Al Brooks
last week.
He mentioned that he was writing a new book.
It is coming out next year, around May, if I recall
correctly.
He said the new book will be easier to understand. It is reviewed
by actual traders so that explanations are more
clear.
He said it will be 3 separate books.
Each book will have a different theme.
last week.
He mentioned that he was writing a new book.
It is coming out next year, around May, if I recall
correctly.
He said the new book will be easier to understand. It is reviewed
by actual traders so that explanations are more
clear.
He said it will be 3 separate books.
Each book will have a different theme.