What does Price Action Mean to you?

[FuturesTrader71]

Quote from Cheese:

The question is price action alone, yes or no?
Too difficult for you perhaps?

No... the question is What Does Price Action Mean to You? It doesn't say alone any where in the thread so far.

Not difficult for me to understand the question as stated. Some people like to see something in the question that is not there just like to see something in the market that is not there.

Everything is based on price and the amount of participation that price attracts for whatever reason.

To the OP: I use candlesticks for trading on my charts and I confirm S/R by using the tape.

 

[oddiduro]

Quote from BSAM:

Understand. I'm just trying to help Kevin draw some general conclusions, because be has not enjoyed clarity in this area. I'm quite sure that he has observed only a fraction of the charts/price action that perhaps you and I have. It's just that these threads get started and pretty soon the only concensus that is achieved is confusion!

Many factors are involved when making trading decisions on "price action". I don't believe the TICK has even been mentioned here. I've tried to stick close to the basics just for clarity. Under certain conditions when price falls thru support on lowered volume, a good signal is still given. You're so right.....it varies greatly. A novice though, can only become confused when he hears these seemingly contradictory statements. As you and I know, it usually takes years to digest the real rules of good trading.

Appreciate your feedback, Oddi!

No substitute for screen time

 

[doublea]

Quote from kevinmclark:

I often read comments posted by traders that say "I don't use indicators, but only price; or, price is the best indicator". What does this mean (candlesticks, volume, tape reading, etc...)? I find, these terms are often used, but rarely explained.

Kevin: I use price action only and have started a journal here. I do not use any indicators.

 

[ElectricSavant]

Convert the price to time...if you understand this you will have the first indicator that would actually tell you something.

A simple division problem...

Good night Folks...

 

[kevinmclark]

Quote from doublea:

Kevin: I use price action only and have started a journal here. I do not use any indicators.

I'll check it out.

 

[maxpi]

Quote from oddiduro:

No, price is the only absolute in the market. All indicators depends on the number of price points input into the equation.

Volume is almost a completely ramdom entity.

Regards
Oddi

Agreed largely, but there are a few situations where volume is definitive. To me price action is more about the time and sales and watching for when sales are going off at the bid or the ask. Along with the chart that can show you a lot.

 

[kevinmclark]

Quote from ElectricSavant:

Convert the price to time...if you understand this you will have the first indicator that would actually tell you something.

A simple division problem...

Good night Folks...

Thanks for the carrot!

 

[duard]

Hint:

Price --- how you get paid!!! You don't get paid by volume, MACD, stochastics, news, open, close, etc. Price matters 'cause if you buy low and sell higher you make money. Sounds stupid?!? Alot of people don't get this. Buy on the dips? Sell on the rallies? O.K. if that works for you.

Who cares if price is going up, I do.

Who cares if price is going down I do.

Who cares why, not me.

Just some thoughts.

 

[oddiduro]

Quote from kevinmclark:

I often read comments posted by traders that say "I don't use indicators, but only price; or, price is the best indicator". What does this mean (candlesticks, volume, tape reading, etc...)? I find, these terms are often used, but rarely explained.

Another point about price(no pun intended)

Price is the only component of market analysis that is not dependent on how much data you have, look back, what type of platform you use, what exchange you are on( some exchanges calulate volume differently than others), whether you use tick volume or trade volume, time of day, etc.

Price is the unifier of all markets. Learn to read price, and you can trade any kind of market.

Regards
Oddi

 

[Cheese]

Quote from FuturesTrader71:

No... the question is What Does Price Action Mean to You? It doesn't say alone any where in the thread so far.

Not difficult for me to understand the question as stated. Some people like to see something in the question that is not there just like to see something in the market that is not there.

Everything is based on price and the amount of participation that price attracts for whatever reason.

Sweet.
I explained what price action meant to me.
Price Action trading means just that .. alone, without indicators etc
So get a life.
And whatever it is you think you are doing, just keep doing it.

"Everything is based on price and the amount of participation that price attracts for whatever reason."
Oh really. How nice?
Well there is a lot you don't know and haven't so far learnt then, isn't there?