That is possible, but it is not intentional, except when someone tries to change facts or initiates insults, then I sometimes reply in kind. If someone shows humor, I reciprocate with humour. (HolyGrail today is an example). As for the original poster, he did well to start a thread. No doubt about that, and he deserves credit. But this does not mean that his posts are immune to questions and challenges. Otherwise there is little value if a view is forced on others. Not only I will accept any challenge to my ideas posted here, I welcome them. It just has to be done in a fair minded and just way.
Nothing Beats Price Action, Everything Else is Derivative Lesson 1 I've updated riskfreetrading's Short of the NDX to include his original entry, showing you a CLASSIC example of why you should never, ever, ever trade against Price Action. This is a classic newbie mistake, and he's lucky that he isn't trading the leveraged futures (my weapons of choice ) trying this stunt, otherwise he would be looking at a blowout sometime in the near future (because of increased leverage and overnight gap risk :eek: ) ... I'm sure he's going to hold onto the trade until it proves him right, regardless of the amount of heat he has to take (you know, like that guy who brought French Sogen bank to its knees and caused the U.S. to lower interest rates by 1/4 of a point ) *** Note: This is and will be the only formal lesson on this thread ... it's the only one you'll ever need.
Hey you can listen to whomever you want. I just hated to see him ruin Rennick's thread by trying to prove to his MILLIONS of fans that he is better than the magic ball. Let him start his own thread on calls and make them to his hearts content. That way I can avoid the thread entirely. I enjoyed the other thread until he came into it attempting to hijack the thread.
You entered this thread with WHAT THE OP DOES NOT UNDERSTAND. Who are you to know what he does or does not understand? If that is not pure arrogance I don't know what is. The same with the rennick thread. You enter the thread and say lets compare my ball to your ball. You crave attention. Good traders don't need attention their profit and loss statement gives them all the satisfaction they need.
I personally am very grateful that he came on this thread running that noise out of his mouth, Holy Grail. A few traders were asking for examples of what I mean about Price Action and how to use it, and I was racking my brain looking for examples to provide them with (I literally could not think about trading against price action, I know it makes as much sense as driving down the wrong side of the street ). And so along comes riskfreetrading (that name again ) issuing challenges and inadvertently providing me with the perfect chart to use for their benefit (certainly not mine). Here is what he was thinking: 1. I am smart 2. My analysis shows that this is a good place to enter a trade against the current trend (iow: price action). 3. The trade goes against my position, my analysis is proven wrong, oops, I am not as smart as I think I am, but I am going to hold onto the trade. 4. I have not idea if/when the market (iow: price action) will turn around and start to move in the direction of my trade, but I HOPE it will be tomorrow. *** This is the main reason why over 95% of the people who try to succeed at trading, fail. :eek: If anyone has any questions, please refer to the lesson on page 22 of the thread.
Mandel,you never did define price action, assuming everyone knew what ya meant,what is your 2-3 sentence definition,if ya don't mind
Hey ammo, I'll be glad to. For me Trading Price Action is defined as: placing trades in the direction of the current trend when price moves in that direction. Thanks for asking. If anyone has any questions, please refer to the lesson on page 22 of the thread.
thanks,that is simple enough,would be great if i could think that clearly when i'm trading,these million extra sets of indicators we all use really do gum up the works,just found this thread and read it from start to finish and other than a few interuptions it really drove the point home,just watch the tape and know where the trendlines are,by the way there is a tl from3/03 and 7/06 lows that was support for 4 yrs,we broke it and its now resistance,todays spx high touched it
You actually make a very good point with your post ammo. You see, this is actually a very advanced thread! It's designed for traders who have at least 2 years (or more) of trading the futures under their belt. If anyone has less experience than that, they probably think they can find an indicator, or figure-out a process, where they think they can outsmart the markets. If a trader does not have any experience trading futures at all, this thread won't make any sense to them, as they have no experience to base on what I am saying here. To those people I would like to say ... come back and see me in a couple of years, as the more experience you get, the smarter I am going to appear to be. If anyone has any questions, please refer to the lesson on page 22 of the thread.