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Price movement is a battle thru Trendlines and S/R
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If price breaks a key point (trendline or S/R ) agressively then this is a good sign, and it shows that price is going further...that is why trading requires judgement from the human brian more so than reliance on some sort of mathematical formula as a descision basis.
A price chart is made up of price movement from critical levels that are determined by market players, these levels are shown via trendlines and S/R.
A price chart is made up of price movement from critical levels that are determined by market players, these levels are shown via trendlines and S/R.
There is no right or wrong...
no agree or disagreement.
If something works for you...don't assume the other guy/gal is not able to do the same via another method...
many different paths to profits.
My point is this...if you make...for example...50k per year via pivot points, trendlines and s/r levels...
another guy/gal makes 50k per year via Bollinger Bands and MACD...
who's correct...what exactly do you need an agreement about?
There are hundreds of different trade methodologies helping traders to succeed...
once you start thinking there is only one way to interpret the battle...
your missing the point.
P.S. I use pivot points, s/r levels, trendlines and they have no advantage over my use of Japanese Candlesticks, Bollinger Bands, MACD or whatever.
If you understand the weakness and strengths of your strategies...that's an edge.
Pivot points, s/r levels, trendlines, candlesticks, volume, bollinger bands, macd, stochastics or what ever...
all have their strengths and weakness.
Thus, if it works...keep using it.
NihabaAshi
Harry help?
Michael B.
Michael B.
This may sound like I'm poking fun, but I'm not. When I read harrytrader's posts, I read them to myself with a "make-believe french accent doing a somewhat broken English", and, believe it or not, they are a bit more comprehensible that way. Maybe it makes me "hear" the intonation and inflection, and that makes up for the differences in grammar.
Nihaba,
I agree with the general thrust of your argument. However, I also think that you may have overlooked something.
Of course, in the distribution of traders out there, some will use price action only, others indicators, others a combination of both and so on and so forth and you will find successful people on both sides.
What interests me ibeyond that is the ratio of successful traders in the differing camps. Let's assume for simplicity that there are only price action traders vs indicator traders.
Can you tell me what the ratio is going to be? Is it going to be 1 successful price trader for 1 successful indicator trader? Or maybe you'll find that for every 3 good indicator traders there is 1 good price trader. Granted 'good' here is vacuous, so assume that good means one who can make 50k a year with a given capital base.
What if for every successful indicator trader out there, there are 5 successful price traders?
I don't claim to have the answer. And this is a mystery that I would love to see solved. But it's probably never going to happen. Why would people tell you what their level of 'success' is anyways, were you to try and poll a sample that would be representative of the population?
Just putting that out there.
Maverick.
Maverick,
You have valid points and I didn't consider any possible ratios of one to the other as you did.
As you...I would be interested to see any factual recent surveys of such types of ratios if such existed.
NihabaAshi