In reply to your tottally retarded quote. LOLOLOLOLLOLOL, trust me no one here is jealous or afraid of you…least of all me. I was not dismissing your viewpoint, I was just saying it was wrong.
As far as the other argument I’ve said all I’ve going to about it. As I said I already made my point, and anyone with half a brain can see that.
Theres price and theres time, if the price for a bun at a particular shop stays at $x.xx for 1 year that doesn’t mean the price for the bun moves sideways, price was stable while time past. Even in a “range” shown on any particular chart the ticks are either moving up or down. The “range” we speak of on charts is a up down movement between two levels over time.
I understand the term side ways movements or range in the markets, but thats because we compare price to time on a chart. Price is either stable or going up or down.
Exactly my point.
You could learn a thing or two about how to debate like an adult from R. Carter
R. Carter and I have been having a [B]civilized [/B]debate. We disagree on some points but we have not lowered ourselves to name calling and demeaning each other. That is something you should aspire to be able to do.
i disagree, indicators are useful and do work. No point bashing it if it doesn’t work for you. Different things work for different people. Just coz it doesn’t work for you doesn’t mean you tell other people to avoid it.
Honker on over to ff and check out the thread “Eaglets flight training school”, an indicator based system, people have actually reported their results 100% in under a month risking 2% a trade. the originator manages money and has been doing so following the mtf trix indicator based system for several years.
There are so many more examples i could rattle off. Bottom line is if you’re advising a noob you should tell them to try different approaches and see what suits them the best.
Indicators do work but thats only if one understand the markets. Once you understanding how to properly read charts then you will find just about any indicator useful. What a lot of noobs do is trade directly from indicators without proper market knowledge. The first thing one should do when getting into trading is to properly educate yourself about the markets.
What is your understanding of the markets? How do you define “proper market knowledge”? Where does one “properly educate” oneself about the markets?
A visit to the thread you mentioned left my head spinning. Unless I am mistaken, it is not a simple method to implement. It was not apparent that there is an “official” method.
Some indicators, like average range, are useful. The rest belong in the same category as Voodoo, Religion, Tarot cards and Ouija boards.
Let’s try to bring this thread back on track.
Price Action , PA, is a wide term and can cover almost everything which has to do with price movement.
My way of using the term defines PA as trading without indicators. Not saying that’s the correct definition, just how I use it.
If you’re interested in that cup of tea, I’d suggest reading Steve Nison, check out the James16 Chart Thread at another forum, check out Phil838’s threads here on BP, have a look at the Alternative Technical Templates threads by Tess to get you started.
Basically - read everything you get your hands on. There’s always something to learn.
Ditto.
He, & the rest of the creative writing mob across there should consider hiring on a literary agent. They’d make a packet writing science fantasy novels.
well yes for a noob it would seem a little daunting at first. Why not come back to it later when you’re more experienced?
Its not a set in stone system, it definitely requires reading and practice to understand.
anyway i did’nt mean to push anyone to trade this system in particular, i just meant to say it works for lot of people, why not try it if you are able to grasp it and it suits you thats great, if not try something else.
There’s THV (completely indicator based), the MAX system, Gleneagles one and so many others.
As you gain experience and come into contact with successful traders you’ll find its possible to trade the markets successfully using a multitude of approaches.
I know hugely successful ultra short term scalpers, PA traders, indicator based traders, one sentiment based trader, time cycle trader, I even know a very successful trader who picks his trade by day of the week and date of the month!, another who uses seasonality. Very very successful.
I also know one who uses lunar months its called the delta phenomenon!!!
To a noob it may make his head spin but with time and experience you’ll find different people use different methods.
Like i said there are many many ways. Try many approaches and see what suits you the best. don’t dismiss anything until you’ve tried it.
An online forex trading forum community not only supplies you an enormous amount of hold up but it also recommends hard to get resources each and every things right in one place. Many forex traders like to go into the forex community forums and post their systems that they accomplish victory with. If an additional trader would like, he or she can put into operation their system and begin profiting exclusive of ever having to fashion a system of their own.
will check those out, I also realize that the question i had to start the thread was a little vague, after learning FX about one month i realize that price action isn’t just a specific endeavour in the business like candlesticks or EW.
Good one!!
Noob? You’re kidding me right. Tongue in cheek.
[quote]delta phenomenon!!![/quotes]
I’d be more worried about him using that as an argument than calling you a noob. I mean each to their own is one thing but really…
Anyway halfstep if you’re that keen o990l6mh has pointed out some really neat resources phil’s is great for beginners but if you’re really keen I found that to get your foundational education going there’s hundreds books out there that can do the trick - of course you’re not going to want to find them in the library or pay thousands for them particularly since you’d only read them once - so what I did was hit up a decent franchise book store every day or so (if it’s private you’re gonna get booted out), find a nice corner and just burn through them, taking notes (or even just mentally). THere was a thread on decent books around here somewhere, keep an eye out for those
Learn about supply and demand zones by Sam sieden and your 80% on your way to success.
Price action is the best way to trade since you are trading what is currently happening. There is no lagging indicators that gives slow signal. Personally, I only trade price action whether it is candle stick, chart pattern etc… Anything that gives current signal is good for trading.
“Price action is the best way to trade since you are trading what is currently happening.”
This is 100% misleading at best and simply wrong in the worst case.
Price Action is based on psychology and self-fulling price movements brought about by common reactions to certain levels.
Lagging begins the nanosecond a bank quotes a price due to latency processing this quote at the broker then sending it onto the customer.
No one can trade a quote. If I tell you the price of eur/usd is 1.3322 should I go long or short you cannot recommend a position without SOME historical information so stop talking talking about trading price and lagging. “action” implies characteristics observe in price movement over some time. Time taken to observe history implies latency or lag.
Indicators are used to discern meaning from the same movements based on mathematical and statistical functions applied to price data. They are not therefore by design supposed to move in step with price. As most indicators work with a sense of ‘period’ then you understand that if u change an indicator’s period setting to 1 as opposed to 5, 14 or 26 then the functions in that indicator operate on the current quoted price.
Think about what you’re saying and refrain from confusing people 
It’s no coincidence that many in forex are losing their shirts - few are thinking about all the information they read and repeat.
It’s also no coincidence that the hedge funds profiting best right through the credit crunch volatility and through yen and Swiss intervention are black box algo funds auto trading with statistical INDICATORS
For completeness I’m sure big timers like warren buffet and soros and buy-hold position traders do it with just the price and and some idea of intrinsic value.
If was a BEST way we would all be using it.