Price Action Trading Proves a Real Hot Topic for Forex Traders Know Why

This is a discussion on Price Action Trading Proves a Real Hot Topic for Forex Traders Know Why within the Educational Resources forums, part of the Commercial category; Originally Posted by dbphoenix Which is not what "PA = down the rabbit hole" implies. Sorry, I'll find an American ...

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Old Nov 18, 2016, 9:45pm   #9
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Originally Posted by dbphoenix View Post
Which is not what "PA = down the rabbit hole" implies.
Sorry, I'll find an American metaphor next time.
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Old Nov 18, 2016, 10:09pm   #10
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I witness during the years many traders defending their own concept to extremes levels despite the results and consequences.... Only to see them disregard completely their former strong concepts as total junk and embrace a complete opposite one with the same rigidity.

It is a recurring physiological make up in trading which repeats itself again and again....
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Old Nov 18, 2016, 10:17pm   #11
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I have nothing against TA, did it successfully for long enough to know that. It's biggest issue is the vastness of it all. You can take a simple system lets say support and resistance breakouts and apply dozens of parameters to define a trade. In fact I bet if we did an experiment of 10 of us, with the basis of our strategies being breakout support\resistance. I bet no 2 will come up with the same set of parameters. There might be some similarities but each will be unique.
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Old Nov 18, 2016, 10:50pm   #12
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I have nothing against TA, did it successfully for long enough to know that. It's biggest issue is the vastness of it all. You can take a simple system lets say support and resistance breakouts and apply dozens of parameters to define a trade. In fact I bet if we did an experiment of 10 of us, with the basis of our strategies being breakout support\resistance. I bet no 2 will come up with the same set of parameters. There might be some similarities but each will be unique.
Which proves our point, only the most able will gain greater outcome and greater ability is not gained by shutting down with rigidity, market is fluid.
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Old Nov 18, 2016, 11:03pm   #13
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Which proves our point, only the most able will gain greater outcome and greater ability is not gained by shutting down with rigidity, market is fluid.
Define greater outcome? The reason I ask is because the outcome of a trade is unknown.
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Old Nov 18, 2016, 11:07pm   #14
 
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One can trade successfully using price action, indicators, patterns, fundamentals, news, or phases of the moon. What matters is testing what one observes in order to determine whether or not it is consistently profitable, then practicing, collecting the data, and practicing some more. All the quibbling about the superiority of one approach over another accomplishes nothing more than taking up space.

This kind of article makes price action trading seem stupid. But then I've seen plenty of articles on various indicators, DOM, candlesticks and so forth that make each of these other approaches look stupid. It's not the approach; it's the trader.
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Old Nov 18, 2016, 11:21pm   #15
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I have seen some interesting articles about the behaviour patterns of traders that make money. I read an interesting one that showed women being better traders than men. What do you attribute in your personality to your ability to trade?

http://news.efinancialcareers.com/uk...street-trader/

Last edited by forker; Nov 18, 2016 at 11:43pm.
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Old Nov 18, 2016, 11:42pm   #16
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Define greater outcome? The reason I ask is because the outcome of a trade is unknown.
I do not understand your question but...

Open mind = no concept = fluidity = greater ability = greater outcome = greater profits = I do not know = Open mind........

Close mind = concept = rigidity = less ability = negative outcome = losses =I know it all = Close mind........
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