At this moment I’m kind of confused, because I found out about these three awesome and profitable methods, and I have a hard time choosing among them.
Obviously I don’t want to get into a position, when after I chose one method then later turns out, that I should have chosen the other one.
Have any of you tried or using one of these methods, and what is your opinion about them?
Price Action is something that could be either traded naked on your charts or with indicators. PA just “is there” no matter how you trade. It can be traded as is, or used for confirmation to what your indicators tell you. Sometimes I have indicators telling me it’s time to trade, but with a closer look at PA I get mixed signals and either stay out or give more credit to the PA.
As for VSA that is a whole another story, VSA is how to try to identify what the market makers are up to and when you know what they are up to…or think you know PA still comes into the picture to confirm a trade if you want to jump on the train at last minute, at least for me. It’s good to know a little about VSA to understand what is happening in the market and then use PA to find entry/exit when things starts to move.
Gartley/butterfly I know about, but know nothing about it.
When I first started out I consumed everything and had a hard time figuring out what was worth pursuing or not to be a good trader. I had to take one method at the time and take them apart to bits and pieces and learn about them individually.
Today I use a little of this and a little of that…I like one method to confirm another.
My advice, learn as much as you can about one method at the time… when times go by you’ll find what works for you.
Why not use all three. As long as your rules are clearly defined and you have a strong trading plan. Diversity is a fantastic way to reduce risk. Different strategies is often overlooked when it comes to diversifing.