Is price action trading the most insightful(& most accurate)?

yes markets can be predicted.....that is why there are more experts predicting markets than there are traders.....
but unless you run a subscription service.....you do not make money predicting markets.

incidentally even Elliot died a beggar

 

Mostly disagree. Only a tiny portion of market action is "predictable with high probability". The percentage is so small, hardly worth the bother.

With a knowledge of Price TA, however, a trader can do very well by "reading the price action and reacting quickly". No "prediction" required.

 

that is enough but even then it is not easy to make money

 

what i mean is the general direction is known to everyone......but the key to making money is management of trade

 

You take the very best risk vs. reward setup you can model. There is no "predictive" capability by man or machine.

 

padutrader,

Can you please give more information on Elliot and who is and the begging part?

Who is Elliot?

Thanks

 

Good question.

Please describe in detail what you mean by trading success so I know if I qualify to respond or not?

Thanks

 

In case you not joking: https://en.wikipedia.org/wiki/Ralph_Nelson_Elliott

 

Elliot was a wave count practitioner. If you want to get your ass run over - make trade entries based upon either Elliot Wave Counts or Gann Lines.

 

Thank you RedDuke,

I was not joking. I have heard of Elliot Wave before, but did not know who invented this theory.

Is this true what padutrader say about him not having money?