Thanks for the detailed answer! Well, the first thing I have to say is that I thought you were intending to say that price action wasn’t related to the past in contrast with indicators. Probably, you weren’t trying to say that.
My point here is that whatever technique we use, whether technical, price action or fundamental, the data we use is always from the past (some present data if that’s the way some look at recent data). So, from my point of view, the only thing we have to “predict” (very pretencious in markets) the future, is some historical data. And because we don’t have all the variables required to predict what’s going to happen next in the market, the only thing we can do is to make some backtests and apply some statistics in order to in some way support our future trading decisions.
Just that, I wanted to clarify that (from my point of view) no technique uses better data in time-space terms.
Quick recommendations that probably you don’t need. Just in case:
Maybe, you can perform your research only with open prices mode (faster mode in Strategy Tester) and if some test preforms good, then you may use tick data (a more detailed test). Of course, this depends on the type of strategy. Notice that the Strategy Tester has SL priority over TP. Meaning, if in the same bar both could have taken place, it always select SL (at least it worked that way in the past). So, if the results are good, they can only improve when you use tick data unless some trades took place during news releases and the spread affect and changes completely the results.
Thank you! I didn’t know that about TP and SL! I handle my TP programmatically rather than setting it in the order, so there’s that, but really good info to know!
Agreed. So I spent all this time playing with infinite combinations of indicator stacks, and I had some success, but where it really started improving was when I started primarily relying on some price action triggers, like X number of candles in a row that make new highs and don’t retrace below previous highs, the second you hit that last trigger candle, boom. No real lag there. Of course that’s not enough. If price action looks like something is happening, then what’s my ADX, and what side of that MA am I on, etc. I’ve definitely had the most success using indicators to confirm what PA is telling me.
That must be a great support for your decision on price action trading and towards your strategies, but if we don’t have this evidence we can’t be as convinced as you are. Traders are not sheep and of all people will not be led along simply because someone expresses an opinion that this, or this, or this, is the way to go.
Your position is clear. You’ve stated an opinion. You don’t provide supporting evidence.
You cannot expect people who have never heard of you to believe what you say simply because it was you who said it. If you did believe this it would suggest you either have an inflated sense of your own authority or a very low opinion of the users of this site concerning their judgement and gullibility or you have another motivation.
The third option would be my choice, and I already wondered whether you simply wanted to attract clicks for commercial reasons. That would be quite rational. I suspect you’ve achieved your purpose and you’re prolonging this agonising debate simply to raise your profile by a cheap short-cut.
Secondly, my evidence is not just for students it is public!
But since you mentioned my students they see exactly what I do with my date and time stamped trades. Why don’t you read their reviews or even better watch their videos on how I trade…
I don’t ask for a URL. I did ask for evidence but I already accepted that you have decided against it. Its pointless asking the same question repeatedly and I shan’t bother you again with that one.
So, I must accept the financial risk of remaining ignorant of your methods and you must accept the reputational risk arising from your self-serving contributions to this forum. I leave it to others to decide if you are incredibly arrogant as a result of success or failure.
How about a trade log? We don’t need to see any secret sauce, or know why you got in or out of anything, but I’d assume you have at least a year of successful trades you’ve made using your system, right? Maybe paste those here, attach a spreadsheet, whatever it takes. Should be simple to show everyone a record of success. On this date/time in at this price, out at this one, etc.
That trade log is already out there in the public domain. A little visit to my profile will then give you the link to see such evidence. I did suggest that to @tommor but he is too interested in not following simple suggestions to see the evidence he is so desperate ‘not’ to see because then, his whole argument falls apart.
Just have a look on my website under performance. Done!
You posted your claims here, why not your evidence? Why should everyone have to go click a link in your profile and drive traffic to your site? Not asking for much here…