No, the important thing is if you have found something that makes money. If an account wipes out, the fact that it "works for you" doesn't make you any less of a broke loser.
The original poster does not seem to understand this: 1. What is new in his head does not mean that it is new to the area of knowledge. 2. Pure price action (in the absence of a precise definition) is a nice expression but it may mean different things to different people.Therefore it is fuzzy. 3. If what the OP means by price action the same definition as the one used in Joe Ross (who by the way is just repeating what another guy wrote before him), you are absolutely WRONG when you state its relation to TA, indicators, etc. 4. There are mathematical proofs that show that most (if not all) indicators are equivalent, and what you seem to refer to as price action (as in Joe Ross, and all the other bunch) is equivalent to a SIMPLE MOVING Average. That simple moving average is not visible to you, but it you were to read/understand it the way you should, and decide moving average you should use then price action provides nothing new except to you. What seem to be new is that you do not understand a simple moving average deep enough, which moving average to use (they keep changing), and the relationships between MAs, among MAs and among/between other indicators. All the TA stuff (indicators, price action, price inaction, and what have) provide multiple views on the object to be seen: To see the object now and in the future, you need to: 1. Sit in many places or every where (translation: use the relevent tools until you reach the state of mind that you see the object clearly). 2. Once you get the object in clear view, then you need to be good in kinematics or something related to that field to anticipate the trajectory of the object, and/or 3. An underlying model in your head that explain what the market is doing. You do not need to be correct a 100% in the above. Enough accurate is enough.
Damn, you very well could be the most arrogant SOB on the face of the earth. I think the original poster understands exactly what he needs to understand.
Oh, of course I know that. But apparently, from the contributions of many traders to this thread (you being one of them), they do not. I have a very precise definition of what I mean by price action. But while Holy Grail has been nice enough to share his exact methodology with the ET populace at large, I am content to discuss the precepts on this thread. I won't be getting into the detail ... too many trolls, (or didn't you notice?) You sound confused. Joe Ross was mentioned by another contributor to the thread, not me. I complimented him on one of the analogies that he used, but it certainly wasn't the reference to Joe. All MA's lag ... but thanks for your comments. Ah so you have learned how to trade also? :eek: That's good.
Mandelbroset: In your above post you confuse many things: 1. You indicate that something is new knowledge because it is not in the head of (some of) the people who responded in your thread. That is incorrect, and was the precise point of my above note. New knowledge can exist in a documented form, and may not even exist in any heads (except the inventor who may be buried in a tomb by the time someone like you reads it). You just proved my point in my post that new knowledge for you means new in your head or the head of others in this thread. That is called "your learned it for the first time". That is not what new knowledge means. New knowlege means something that was not known to humans across all time, and some guy came up with it. 2. Show me one chart/example in which your learned something, and I will show you that same thing that can be learned using another tool. In other words, explain what "pure price action" is, and then show just one example in which "pure price action" can lead to one thing which cannot be learned without it. I will be waiting for your example.
Is this another alias for jack hershey? ... you think a 0.25% gain on your NDX short is a good return, and you're going to school me? :eek: - yes, LOL. Some People Have a Lot to Learn We don't even play in the same field, but let me know when you want to put your money where you mouth is ... that's my reply ...
So you cannot respond to the substance of my post. This proves that you got nothing but three empty words behind "Pure Price Action". Like one ET member well summarized it: "A FART in an astronaut suit" or something like that. The challenge for you to define what it is, and to provide the example I requested will be open to you FOREVER.