Helle Guys,
I just want to ask if there is another name for price action, i try to search for a lessons on price action it on babypips but can see it
Many Thanks
1 Like
Hi,
A lot of people, after trading for years announce “I just make all my decisions based on price action”, and follow it up with statements like “the trend is your friend”, or “I do not enter until there is enough volatility”.
I make a direct comparison here with project management. There are two ways to manage projects - waterfall and agile. The former is fraught with over-bloated statements of the bl__ding obvious, and the latter is fraught with lack of relevant documentation when it comes to whether a sprint has finished or not.
So I would really like a practitioner of “price action” to analyze and document their strategy, plan and trade lifecycle management when all they use is “price action”, as have many thousands of practitioners of other strategies such as fundamental analysis, technical analysis, psychological or “herd mentality” analysis or any combination of the three. looking forward to reading the responses.
Price action describes the characteristics of a security’s price movements. In simple terms, the 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.
1 Like
Hi @AliForexTalks,
Thanks for the high level description. Do you have any links to how one may take this high level concept and apply a strategy, backtest and trading plan to it?
Hi,
The objective of this forum is to encourage free transfer of knowledge and experience. Taking stuff offline to a private WhatsApp number is not in the spirit of the forum.
So a word of warning to @Alasan
If you go offline to private conversations, there is a high likelihood that the person taking you offline has his interests in mind a lot more than yours, and that normally means you will be exposed to forking out some money. Everything you do on this forum will not cost any money for knowledge or experience.
Not that I’m aware off. Nothing comes to mind that has been popularised beyond that name
Thanks. So it is either an Agile sort of thing (good idea but nothing under the hood) or it is a well kept secret. I’ll stick to the strategy -> plan -> lifecycle trade management. At least I can understand it. 
@Alasan - Al Brooks is probably the most well known proponent author of price action. You can pick up a few of his books and/or catch his YT channel:
@Mondeoman - his books contain a number of guidelines for specific situations (ref scr shot) and he’s given an extensive number of charts explaining how to apply them.
Only issue is that there are tons of rules/guidelines with no priority or weights against each. Looks very subjective and situational but pros like Tom Hougaard swear by his work and he’s a contributing writer in investing.com atleast
It’s heavy reading and maybe someday someone can either whittle down the guidelines to high level rules (e.g. Elliott Wave Theory) or quantify it (E.g. Thomas Bulkowski on chart patterns) that’d make it easier to digest and apply (like building EAs).
Personally I’ve noted a few rules and use it in confluence with indicators and chart patterns. Noticed how certain elements overlap with conventional Technical Analysis which makes it easier to apply.
1 Like
Hi @Mondeoman further to what @darthdimsky says above - you could do worse than look at Wyckoff and VSA .
A cheaper version of AL Brooks stuff comes from Volman ;
Though if you can reduce that to digital - I’d be very impressed !
@Falstaff,
Thanks for the heads up. I will take a look at that. Something I missed on School of Pipsology, perhaps.
Interesting school. Where does this exist?)
No prob mate - much of “the School” seems to come from “Stockcharts.com” (john Murphy) When I was looking I found 2 “Articles” there on “Wyckoff” - one very good, one mediocre at best - But I certainly didn’t see any of that filter down to “Our School”.
His stuff was long-term and he used/ invented some nice charts - His premise was that Accumulation / Distribution by the “Big Boys” could not be hidden from the record whatever devious methods they tried and thus a knowledgeable amateur could be aware of ongoing moves to accumulate or distribute shares prior to the Big Boys instigating a price move.
Naturally it was related to stock prices and whether it would translate to Forex is perhaps in some doubt _ I have Volman’s book (Boring as hell) and have tried using some of his principles - I have said elsewhere that I might give it a thorough trial this Autumn/Wnter as I do hold it in some regard !
[ The book does get a little less boring on second and subsequent readings ! ]
2 Likes
Hi @Falstaff, @darthdimsky
Thanks for the additional information. I have registered on Al Brooks website and will consume some content over the weekend.
Disclaimer on my part: I didn’t finish the book I was reading. It was a very frustrating read. I got legitimately mad at Al Brooks for his writing style.
Reading progress:
But I gained a lot from studying the charts in the book. He’s very detail oriented and looks at each candle individually. Makes sense why most scalpers swear by price action. With enough work and practice the way they look at charts rewires their heads differently.
I’ll go back and finish it before the year end but I doubt I’ll read the two other books (on ranges and reversals) anytime soon.
1 Like
Just love your approach to task management. If you are not already, you would probably make a really good project manager
1 Like
Interesting - does it cost money to access any useful “Stuff” ?
It would be desirable to initially receive all this necessary information.
I have not got that far yet. It seems like a very busy, old fashioned Wordpress style site. But they are often the best. I have some really boring but urgent work to do this week that I have been putting off, so my educational journey into price action will have to play third or fourth fiddle.
I am thinking about the kudos of meeting some Forex trader types in the pub and when discussing whether you are a fundamental or a technical trader just piping up "Oh, I just trade the price action. I’ll only do that when I know what that means in practice. It just sounds really cool and aloof. 
So just google it, read the FAQ and register for an account like I did…