Revisiting 'Price Action'

This is a discussion on Revisiting 'Price Action' within the First Steps forums, part of the Reception category; Originally Posted by Pi3141 Maybe he doesnt know how to use the quote button O_____o; Hello friends,,,,,,sneha here,,,,,,I think its ...

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Old Dec 20, 2010, 8:59am   #46
Joined Sep 2010
Re: Revisiting 'Price Action'

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Maybe he doesnt know how to use the quote button O_____o;
Hello friends,,,,,,sneha here,,,,,,I think its good think......I agree with you......
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Old Dec 20, 2010, 11:26am   #47
 
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Re: Revisiting 'Price Action'

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pardon me yet I still not understand what is this thread for and why you writing this all up?

if trading was exoteric anyone who attained certain level of widely available knowledge would become profitable , if on the other hand trading is esoteric and cannot be understand through reason only, the outcome of a trade imminently mirrors the state of your skills, or the level of your exoteric knowledge?

Knowing the answer to that why would you start this thread? my concern...
Is the 'information' how I'm presenting it widely available? Am I saying trade 'support' and 'resistance' and 'pin bars' and 'dark cloud cover'....erm......no
What I'm hopefully presenting is 'look at this again, open eyes and engage brain'
As far as exoteric and esoteric, there aren't any secrets m8. That's the secret.
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Last edited by nunrgguy; Dec 20, 2010 at 12:41pm.
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Old Dec 20, 2010, 12:50pm   #48
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Re: Revisiting 'Price Action'

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Originally Posted by nunrgguy View Post
Is the 'information' how I'm presenting it widely available? .
I am afraid it is.
barjon was banging about it last year

its like a ****ing conceptual art - nothing ever comes out of it

I would have been more impressed if you rather challenged yourself and show us a live trade 4hrs by 4hrs even if it would take a month
or answer the question if you bored enough:
when u see 4h pin bottom forming, the zoom in on the 1H, see the price go up , pullback a little, then shoot up previous high. Do you put your stop below recent low or the prior to most recent?

cheers

Last edited by nomeaning; Dec 20, 2010 at 12:59pm.
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Old Dec 20, 2010, 1:05pm   #49
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Re: Revisiting 'Price Action'

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As far as exoteric and esoteric, there aren't any secrets m8. That's the secret.
are you sure?
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Old Dec 20, 2010, 1:39pm   #50
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Re: Revisiting 'Price Action'

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Originally Posted by nomeaning View Post
its like a ****ing conceptual art - nothing ever comes out of it
Hi nomeaning,
That's just your perception - which is fine for you - but it certainly doesn't apply to everyone. Ditto with your perception of this thread. If you're not impressed with its content or direction, why not start one of your own and see if you can do better?

Tim.
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Old Dec 20, 2010, 1:42pm   #51
 
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Re: Revisiting 'Price Action'

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Originally Posted by nomeaning View Post
I am afraid it is.

I would have been more impressed if .....
I don't think anyone is out to impress you.
From what I;ve read so far this thread is well meaning and with good quality
info.
If it don't work for you, something else may.
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Old Dec 20, 2010, 1:49pm   #52
Joined Dec 2010
Re: Revisiting 'Price Action'

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Hi nomeaning,
That's just your perception - which is fine for you - but it certainly doesn't apply to everyone. Ditto with your perception of this thread. If you're not impressed with its content or direction, why not start one of your own and see if you can do better?

Tim.
I was merely trying to beef it up a little, there are so many bland threads already on this forum. I swear I read thread by barjon nickname not so long ago about trend and all that, where he would have entered and "run for exit"... etc
from a member since 2004 (nurguy) I would expect something more challenging or at least sophisticated.

just let him talk about 1 trade for hours days months even if its nonsense, but let it be live, pleaseee

there is a nice example for what you ve been talking about on eur/usd spot, the price been forming bottom today could be ready to swing or hit the trend...
talk about this now, later will be too late

Last edited by nomeaning; Dec 20, 2010 at 2:06pm.
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Old Dec 20, 2010, 2:04pm   #53
 
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Re: Revisiting 'Price Action'

nunrgguy started this thread
Quote:
Originally Posted by nomeaning View Post
I am afraid it is.
barjon was banging about it last year

its like a ****ing conceptual art - nothing ever comes out of it

I would have been more impressed if you rather challenged yourself and show us a live trade 4hrs by 4hrs even if it would take a month
or answer the question if you bored enough:
when u see 4h pin bottom forming, the zoom in on the 1H, see the price go up , pullback a little, then shoot up previous high. Do you put your stop below recent low or the prior to most recent?

cheers

0. What comes of conceptual art is, or isn't.
1. This is the 'First Steps forum' not the p1ssing contest forum, I've been missing too many live trades recently without trying to post them as well. Is there really much educational use in live trades anyway. Will it be any more beneficial to someone reading it in 12 month's time? NO.
2. Never believe anything you read anywhere, incuding THIS without checking it out for yourself. If you can't get it to 'work' for YOU then it's not for you. If you can get something going with stochastics and MAs more power to you. Do it and make money, don't read this cr@p any further.
3. Barjon mentioned it in a thread last year ( = banging on??) so that makes it widely available in an understandable manner in one place? Link the thread please cos I for one haven't seen it, if I'm just repeating that thread I'll end this one...simples.
4. Who says I enter on 1HR?
5. Who says I trade 4HR?
6. Who says I personally trade on any particular timeframe - I've already stated what timeframes are about or not about. 4hr can be quite spurious..who's data feed?
7. I'm not showing an entry method. Please do not think you can find an area, put on a full position with a 100 pip stop and then just sit there like every other mug punter going for 1:1. Entry might take two or three attempts, go down to 5min if you prefer. 100-200 pip trade off a 20pip stop perfectly feasable, not necc. on the first attempt. Double bottom as you mention on 5min is a good start. I also look across and inside 'timeframes' and enter somewhere where I consider a pullback will land. One thing I MUST see: market movement (I haven't got to this yet), where it originated and where it ended, if this happened over the 3.5 hr 'timframe' then so be it, I can then see where the big boys will look for a cheaper price, I will also see where they will move the market to as a target to take out stops somewhere higher/lower, the market will not move out of a particular area and considerably higher/lower until stops have been neutralised. We often hear 'I trade the pullback because it is safer' with NO explanation of what it actually is or why it is safer, people then blindly follow this without knowing what on earth they are doing or what the market is doing, is this a route to success? Re multiple entries: if YOU can fathom how to make money with a win rate as low as 20-30% you've got it made. There's one guy who's 'derided' on this forum (I was one of the naysayers) who has an entry method (if that's what you're looking for) and if you mix in just a little more than he says it ' can be made to 'work'. There's no quick fix, no 'one size fits all'.
8. You say I trade the bottom of a pin, yes, sometimes, depends on how the bar turns out doesn't it. It isn't important.
9. I personally may not use stops on every occasion (omg???!!!???), BUT I am not Spanish. Stop = for defining risk (in the main) not for getting you out of a trade. I think you are correct having read through that I've not been totally clear on stop placement - I did say at the start that I'm not proofreading this and as it's being written piecemeal please don't expect consistency. Think of it more as 'look at this', 'consider this' etc etc and more will come of it. But re stops consider this, if I'm trading the weekly my stop will not placed based on the weekly but on whatever TF/criteria I enter on.
10. Re stops, who says I personally trade spot all the time? There ARE more ways to skin a cat.
11. How you enter, manage your risk, run your positions, place your stops is ultimately down to you. Hopefully what I've shown touches on that and gives some ideas but I'm not saying 'here it is on a plate'. 'Here it is on a plate' will NOT help you.
12. This isn't some kind of trading system
13. Too many people looking for the magic bullet
14. I'm not trading this week. Last week I missed two entries that annoyed the hell out of me. One the move down on cable, which came from an hourly momentum move that I was waiting for and missed cos I don't know about you but I have to eat, and two the retracement which came from a 'four hourly' momentum move. Yes folks I mssed both. I am not a super trader by any means

MERRY CHRISTMAS EVERYBODY
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Entry is the least of your worries

Draw a line, trade it. Price generally above, long, price generally below, short.

Last edited by nunrgguy; Dec 20, 2010 at 9:59pm. Reason: Attempt at being more consistent as I think I'm confusing people
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Old Dec 21, 2010, 8:43am   #54
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Re: Revisiting 'Price Action'

nunrgguy, please don't be discouraged. This thread's been really useful - helped me to look at things in a new way... Thanks!
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Old Dec 21, 2010, 1:14pm   #55
 
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Re: Revisiting 'Price Action'

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Originally Posted by Fintrader View Post
nunrgguy, please don't be discouraged. This thread's been really useful - helped me to look at things in a new way... Thanks!
Not at all. Debate's good imo esp if it helps someone else reading to find something for themselves in it.
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Old Dec 21, 2010, 1:27pm   #56
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Re: Revisiting 'Price Action'

The rest of us know what is the wheat and what is the chaff. I like your thread, there are points to be accepted, or rejected, by everyone but criticisms by those who have nothing to contribute, themselves-------all threads get them.

Keep going!
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Old Dec 21, 2010, 2:11pm   #57
 
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Re: Revisiting 'Price Action'

yup - keep it going.
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Old Dec 24, 2010, 5:10pm   #58
 
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Re: Revisiting 'Price Action'

Nothing beats price action. You trade what you see the markets doing and trade with it. All our assumptions and analysis are useless to the market. Price action is the only profitable way to trade. You work with the prices and not against them.
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Old Dec 26, 2010, 7:29am   #59
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Re: Revisiting 'Price Action'

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Originally Posted by nunrgguy View Post
Momentum is a subjective thing but consider inside a four hour pin bar signalling a short, does it contain 1 large 15 minute up bar followed by three small down 15 minute bars. Does that look like downward momentum? It looks like a pin bar but it's fooling you.
Why do you say momentum is subjective? Can't it be measured precisely since it is the rate of acceleration in price or movement?
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Old Dec 26, 2010, 7:45am   #60
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Re: Revisiting 'Price Action'

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Originally Posted by nunrgguy View Post
Right 'smart money' and 'dumb' money and big money and small money.

It takes a lot of money, a lot of orders to significantly move a market. If a market has been moving one way for a while, then stops and turns is big money or small money doing that?
It is a well known fact that floor traders gun the stops and laugh about it. However, if any significant move must be made or inniated by "smart money" instead of normal market forces supply/demand..people..etc then the market IS manipulated every day as Taylor claimed it was. He also said the same manipulation is repeated and repeated in cycles. It is discernible. This could lead to "how" to discover the manipulation and capitalize on it. Which is really part and parcel of what you are talking about in the thread, I suppose.
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