The Price Action Journal 2
- Thread starter schizo
- Start date
Good to have a man of the cloth up in here. That phrase is in the latin mass I would hope, lol.
FWIW here's Big Al's comment on Moving Averages under a figure in the link you posted,,,
"I have 50-, 100-, 150-, and 200-bar simple moving averages (MAs) on my daily, weekly, and monthly charts, but rarely pay attention to them when deciding to place trades."
Meself, I have 200sma, 50sma, 8ema on for support and resistance plays, but I caution OP that once the camel get it nose under the tent, that's just gonna be another something to argue about.
Suggest that the OP put whatever the heck he like on them. He likee 20, put on the 20, you likee 21ema, 33sma, 377ema, fine by me. Do Your thing OP.
If we have favorites, then we can play along at home and plug those bad boys on and throw our own set in the air for yall to compare...
Which brings me to my question for OP: How much chartposting do you invite from us unwashed masses out here? If we want to chartpost, what do you want to see in the way of explanation for why the chart is here. Just a chart and no comment? A chart with a page of handwaving on why PA is no good but artistic intuitive trading is the only way? Somewhere in between? No chartposting by us unwashed?
Standing By in Santa Barbara.
FWIW here's Big Al's comment on Moving Averages under a figure in the link you posted,,,
"I have 50-, 100-, 150-, and 200-bar simple moving averages (MAs) on my daily, weekly, and monthly charts, but rarely pay attention to them when deciding to place trades."
Meself, I have 200sma, 50sma, 8ema on for support and resistance plays, but I caution OP that once the camel get it nose under the tent, that's just gonna be another something to argue about.
Suggest that the OP put whatever the heck he like on them. He likee 20, put on the 20, you likee 21ema, 33sma, 377ema, fine by me. Do Your thing OP.
If we have favorites, then we can play along at home and plug those bad boys on and throw our own set in the air for yall to compare...
Which brings me to my question for OP: How much chartposting do you invite from us unwashed masses out here? If we want to chartpost, what do you want to see in the way of explanation for why the chart is here. Just a chart and no comment? A chart with a page of handwaving on why PA is no good but artistic intuitive trading is the only way? Somewhere in between? No chartposting by us unwashed?
Standing By in Santa Barbara.
Personally, I don't use TA in my trading. But I would look at MA50 and MA200 once in a while because they're followed by large fund managers.Where are you on the idea of including a moving average on the charts?
I knew that Al Brooks sometimes put a 20 period EMA line on his charts, but I read an article the other day (linked below) that says he now uses two moving averages on his 5 minute charts...
I suspect that many price action traders would balk at that.
I think that last line pretty much sums up how the PA folks feel about TA.
not me man. I trade Price Action signal/trigger pairs at support and resistance, and use damn near anything in the neighborhood to bank my shots off of. Moving averages, pivots, fibs, horizontal channels, prior gaps, prior wide ranging bars, trendlines. What I like about pivots and moving averages is that the damn things draw themselves.Personally, I don't use TA in my trading. But I would look at MA50 and MA200 once in a while because they're followed by large fund managers.
I think that last line pretty much sums up how the PA folks feel about TA.
As far as Which moving averages, I'm Honeybadger on that. I don't care, but I know that a 1000 bar is not going to intersect price as much as an 8ema or a 50sma = fewer trades. Who got time for that. snoozola.
I like watching Bigalow youtube now and again and he puts 8 50 200s and has a lot of work and examples in their use, he even shows a 3ema some vids for close up stuff he does, not me. What works on the 8, 50, 200 works on other timeframes and volume charts and tick charts, don't know 'bout Hank and Ashley charts cause overnight is chart shy, lol. Cmon Overnight, start trading some faster charts day or night, grab a MNQ and get your butt off the bench, lol.
Anyhoo, a clean chart is mighty fine too, just means gotta draw those horizontal, diagonal trendlines and anchor any fibs ya wanna use. You wanna see some arguing? Put some fibs on there and grab your popcorn, lol.
OP, what's the verdict on chartposting etiquite by us unwashed PA masses in this Great Thread?
Yeah, that's fine. Just don't clutter the chart with too much TA indicators.
I got a place to park charts over there somewhere, but I covered the waterfront there and if all that crap is on a chart it will look like a Jackson Pollock. I plan on stopping by to learn from all this good stuff and from what I'm seeing you are taking a hands-off approach to "The Price Action Journal" thread, and it sounds like if a chart has some Price Action basis, then rock and roll, ya want a 21ema, 33sma, 377ema on a 89Trade chart, let 'er rip. Nothing mentioned about commentary that comes with the chart so sounds everything from soup to jokes is legal? Good on ya.
SusannaDT, the OP for the original TPAJ journal took the helm and kinda led in the direction she wanted (I think). But I'm only providing a place where everyone can freely chime in whatever they feel like, as long as they stick to the topic. I'm here to learn from others as well so, yeah, it'll be "hands-off" completely.
missed every bit of it, trade HG over here. I don't trade Es, has too many overlapping bars for my taste.
I dig measured moves bigtime.