All the time I keep hearing about people trying to make money using price action, here on ET. However I have to remind you guys it is impossible to make money using price action. Price action does not predict the future, nor does it provide a risk/reward set-up. The only thing that can do that is technical analysis and money management. Whenever a guru talks about teaching you price action, they lie. Price action is one of the most undefined areas of trading which means nobody knows what price action actually is. Since everybody has a different definition for price action it means price action, unlike tape reading, is a NON-existing occurence in the futures markets. All "price action" is random movement. What should you do with this information? First of all not give any money to people who promise to teach you price action. Second you should never attempt to learn "price action". The fact that it's undefined means you could waste 10 years of your life learning something that is not price action at all. But that is the only 100% outcome, since price action does not exist.
you are silly, all i have ever used is price action and i make up 1% of the bond futures market, and have for the past 4 years. you should really try and learn something before you just go and tell people how impossible everything is- or preface all of your posts with "i am a quitter"
Would not the better statement have been that YOU cannot turn a profit using price action ? And since you believe that "price action" is random, then your statements make sense for YOU. My take on "price action" is sort of like this: Everyday, good Lord willing, the sun rises and sets and there is a high point of the sun each day. Each day the majority(certainly not all) of folks have a basic routine of functions that their lives revolve around , which is interspersed with unkown stimulus that is reacted to. "Random" events occur within a basic routine or structure. "Price action", for me anyway, needs to be "seen" within the average structure of the particular instrument.
lexcorp, I thought Old Betsy, my nine year old Dell was dying. But it's just ET being extremely slow.