How did you switch to price action only?

Discussion in 'Trading' started by cashmoney69, Feb 11, 2008.

  1. Heck, I don't even use triangles or flags.
     
    #11     Feb 11, 2008
  2. if you can't make money with this, find something else to do.

    Back To the Basics
    Rules of Engagement


    1.) Avoid being biased

    2.) Buy dips, sell rallies

    3.) Avoid Breakouts

    4.) Use stalling momentum for entry/exit

    5.) Do not set price targets, see rule #4

    6.) Cut the trade immediately if momentum resumes

    7.) BE PATIENT, let it come to you. Be reactive, not proactive

    8.) Be flat everyday, the game will be there tomorrow

    9.) If volatility is high, scale in and out with smaller allotments
     
    #12     Feb 11, 2008
  3. Hey T-Dog...are you still solely trading the NQ?...
     
    #13     Feb 11, 2008
  4. I was using an example to make a point :)
     
    #14     Feb 11, 2008
  5. Would candlesticks be considered indicators?
     
    #15     Feb 11, 2008
  6. #16     Feb 11, 2008
  7. No. They are just a different form of price bar. It seems that most people here like them. Personally, I find that they disorient my delicate sensibilities. :D I prefer the standard bar chart.
     
    #17     Feb 11, 2008
  8. I agree, but it would seem some people use them as indicators, for example, the bacon-double-doji, downbound bear etc. Sorry for that, but I've studied them and cannot say I understand completely, but they have dedicated followers.
     
    #18     Feb 11, 2008