I "only" watch/study 50,000 historical 5-min charts a year, but I promise to do my best and watch more.
where can i learn PRICE ACTION trading ?
- Thread starter ptatrading
- Start date
I "only" watch/study 50,000 historical 5-min charts a year, but I promise to do my best and watch more.
Take some time to just watch price. Not charts, look at time and sales.
Oh please.
Luckily there is much much more to trade than just those violent trends.
That much is true.
Check out the book "Technical Analysis using Multiple Timeframes"
By the way Investopedia gives the wrong definition of price action trading. The article says:
"Price action is a trading technique that allows a trader to read the market and make subjective trading decisions based on the recent and actual price movements, rather than relying solely on technical indicators.
https://www.investopedia.com/articl...roduction-price-action-trading-strategies.asp
What are they talking about??
The trader can make price action decisions based on 100% objective trading rules.
"Price action is a trading technique that allows a trader to read the market and make subjective trading decisions based on the recent and actual price movements, rather than relying solely on technical indicators.
https://www.investopedia.com/articl...roduction-price-action-trading-strategies.asp
What are they talking about??
The trader can make price action decisions based on 100% objective trading rules.
How do you define price action?
Trading without technical indicators, like MACD or RSI.
Price action trading can be subjective (trendline breakouts, buying at "support", shorting double "tops", etc...) or objective (buying 20-day high breakout, shorting bearish engulfing candlesticks, buying or shorting 30-minute opening range breakout, etc...).
Contrary to popular belief, a lot of price action techniques can be fully computerized and backtested.