Because he can't read highs and lows in real time failing to take advantage of the best edge in trading therefore relying on indicators to make up for his lack of skill. Sounds harsh but it's the way it goes. You can't beat price and if you try to make a summary of what price is doing it will undoubtedly be a slower summary ,rendering it, inferior. NN
I have no idea who you are barking at, but allow me to intervene......... Perhaps the better question would be what does a histogram give you that price will not. One and the same, just read from a different platform, usually due to length of time in trade preference. That being said, most, if not all DOM/Level3/T&S readers still refer to charts or past price for S/R levels. Therefore, your question is moot, as plotting the trend is not the same as reading the trend. Your questions indicate otherwise. As such, perhaps you should defend YOUR stand as to what you define a "price action trader" to be. Then we can clear up your confusion on this matter. You're welcome. st
I did not say I need one, I merely said they update instantly at the same time as price so I don't understand why people say they lag. Certain indicators don't lag at all. Some do. For me, it helps to show DIVERGENCE that just pure PA alone doesn't graphically represent very well. It simply is a convenience for when I walk away from the screen for a while and when I sit back down, once glance at the indicator tells me what I need to know much easier than "replaying" the PA in my head. I do not use indicators as a strategy or method.
Between NakedNote and Mandelbrot, ET has entered a whole new era of rude, arrogant little trolls. I've blocked you both so don't bother.
Thank you You could have done that at the very beginning and saved all of us a lot of time and effort today. *** Stealth Trader was nice enough to provide charts (ie, still picures) showing what good technical analysis looks like. They can serve as a beginning to help you identify a trend, and then you merely need to enter a trade when the price action moves in the direction of that trend. Just remember the pictures are static, but when you are trading everything is dynamic and you need to keep your eye on the ball for the duration of the trade. This is the exact same definition I gave to ammo earlier, and it held true today in all the markets I was observing/trading, it will hold true next Monday, and it will also be true 3 weeks from now.
Sorry, disagree once again. You were the rude one who claimed to do better using "some sort" of indicator on a previous post. I gave you the benefit of the doubt and politely asked you for screenshots and you quickly ditched the idea because I'm "New" and were afraid of criticism. If you are going to claim superiority, prove it, otherwise shut the hell up. I'll continue to stick to my philosophy. Price and trendlines and to a lesser degree volume. Everything else is a complete waste of time. NN
Do not go. You made many insightful comments. Other people read what you wrote. Ignore them. PS: 1. Mandelbroset=HolyGrail? 2. HolyGrail is a liar (I mean real liar against facts, and he did not retract his lies identified with published numbers) Evidence is here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=99143&perpage=6&pagenumber=227 http://www.elitetrader.com/vb/showthread.php?s=&threadid=127201&perpage=6&pagenumber=4
Look at it this way Indicators are filters. using your brain to trade is also filter(this one must be used). Trading with an indicator is equivalent of you trying to figure out price from watching a video of a video. imagine staring at a chart on a monitor that is showing another monitor of that chart. It is much better to train your brain to figure it from the raw data(if you truly beleive in your brain power) out then interpret a filtered product. That is looking at it from a very low level but that is what it basically comes down to. But.....I do use some indicators to help with my longer term perspective of price. It is a crutch but i use it knowing that(I use some moving aver.). ultimatley though price is king and the present(what is happening now) is what matters. I get your point about using nothing else but I think some people can but they are more gifted or have trained their brains to do all the work. imo :-D