Price action trading is a strategy employed in financial markets, particularly in forex trading, that centers on examining the price movements on a chart without utilizing any technical indicators or other tools. Traders who utilize this strategy depend on their ability to interpret and analyze patterns and behavior in price movements, including trend lines, support, and resistance levels, and chart patterns to make informed trading decisions. You can read more on price action.
What is price action trading?
- Thread starter Coner1980
- Start date
Not to pile in on someone who's suffered a loss(maybe hes out there honing his craft for a comeback?)
But why did Padu fail?More accurately:what do we hypothesise are the reasons for his failure?
He had his bible:
He had belief in his mentor and himself.
He seemed to spend time on his craft.
Is it intellect? Could another person have absorbed that book and that book alone and become a super trader?
Was he missing a fundamental piece of the puzzle that was assumed prior understanding?
I'm genuinely curious what people think.
Successful use of price action involves understanding of price patterns... kind of circular explanation, that's why I find technical analysis too subjective, like pseudo analysis.
You make a good point, kroxobor.
How about double tops and bottoms? That's pretty direct. Nothing circular or subjective there.
Here's a specific rules based testable setup and trigger to generate stats on and find out if it makes money.
Price Action Trading.
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Not to pile in on someone who's suffered a loss(maybe hes out there honing his craft for a comeback?)
But why did Padu fail?More accurately:what do we hypothesise are the reasons for his failure?
He had his bible:
He had belief in his mentor and himself.
He seemed to spend time on his craft.
Is it intellect? Could another person have absorbed that book and that book alone and become a super trader?
Was he missing a fundamental piece of the puzzle that was assumed prior understanding?
I'm genuinely curious what people think.
It all depends on how he applied the information and transformed it into actionable knowledge and further distilled it into wisdom.
The “holy grail” of trading is within the self.
While various methodologies have different R:R profiles, the independent variable is the individual trader and their psychological makeup as they apply their chosen paradigm.
As for Padu, no idea, muted him when he posted trades while under the influence of alcohol. That’s a gambler/futile trader’s behavior getting emotional needs met by the market not profit-driven ones.
Depends on more variables; such as market phase, conditions, economic calendar, current narrative and HTF pools of liquidity.
A price “pattern”, while a distillation of market generated information, is not independent of these other influences.
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thanks for your nice post , got some fine lines.