Domination. lots of excellent questions, and I saw your respoonse in "Introducer Yourself". Price action is being able to discern the type of moves prices made relative to where it is in the trend. As an example, if you get az retracement, then a strong move back in the trend, then it will most likely continue the next leg in that trend which is a sign to enter a trade within that trend. If you have a lower low made in an uptrend or a higher high made in a downtrend ,then that is probably a sign of a reversal, but subsequent price action will also be a determinant. A doji forming in a key resistance or support zone is also a sign of a reversal. It is also seldom you will see an engulfing candle made which means once a new low or new high is made comaprative to the last candle it will probably continue that way. Other people like to use trendlines to detemine price action. I could go another 20 pages just on price action.
For the msot part indicators have to be lagging because of the nature of them. Indicators are a measure of previous price action comaparable to the present moment. They are a guide. As an example, MA's are a moving average. They measure the average of the last x amount of candlesticks within that timeframe. They are very helpful to use within its proper context.
Your paid courses and robots are, as a rule, nothing but a ripoff. They have something to sell, because they do not know how to trade for themselves, so they want to sell you something. I have never known of a trading robot to work. They are still popular because they cater to people's laziness. It seems easy enough; hook the robot up and let it do al lthe work.
Huge companies use them on their demos, so they show how good they are in periodic times, then they sell them to you.
The interbank big boys are just that .They see where the flow of money is and trade against it, because they know there is a reversal of fortunes. The thing is they use extremely low margins, so they never worry about bankrupting their accounts.
The big companies will not be able to get the "super smart traders" to trade for them, because the super smart traders are making money without the need of any peripheral devices or support. As an example, I'm a good trader. I have no need or desire to trade for someone else nor sell someone anything. I just make pips off my own exploits.
I wish you well with the course you bought, but I'm very skeptical. Please take a look at my thread. It is packed with great information that you might be bale to glean a few nuggets from for your personal trading. Feel free to ask question, make comments, or even disagree. Everything is okay with me. Just click on the link in my signature .
Hi. Does Price Action Trading actually work? If so, why are there lagging indicators at all? Is it all just a rip off? Is PA what the Interbank big boys do? If robots only work in hindsight, why do the huge companies use them, instead of just super smart traders? Thanks. Confused newbie..
