"Price Action Only" traders - More likely to be successful?

Interesting, to see the videos and see it in action. Thanks for the link.

 

I do notice that people calling themselves PA traders do tend to focus on very, very short timeframes, but I actually don't think that's necessary. Like I said, I trade only based on price, but I actually trade much longer timeframes than the typical scalper, with many of my trades actually leading to overnight holds, so I agree that historical context can matter (and probably always does matter) even in PA trading, unless you are explicitly scalping, but that's only one type of trading.

But to your point about "information", I think that PA traders and TA traders would often differ about what even counts as information, as opposed to noise, so that what to a TA trader would count as just the right amount of information would actually be the same as no information for a certain kind of PA trader.

 

I agree that all of the derivatives of price and anything which refers the trader to a price point which was not traded, i.e. trendlines, seems suspect.

But, again, the fact that I think those trading aids are conceptually flawed doesn't mean that they can work for some.

Even if PA trading adherents stick strictly to the elements Harris considers valid, though, and doesn't get led astray by tools containing conceptual flaws, does that make them better, on average, than traders who mix and match their trading inputs? Or are PA traders still going to fail at the same rates as others, even if they are less under the sway of conceptual mistakes?

 

Looks like a paper trader. No slippage on his fills.

 

I personally do not believe that such a thing as "noise" (labelling "useless" or "uninterpretable" "random" price movements) exists at all.
I consider what many call "noise", to be actually a very precious information.

But I agree that "information" can also mean very different things to differently conditioned minds.

 

Works well. His biggest position gives him the biggest gains. Gets stopped on smallest position.

Personally prefer ALL IN ALL OUT though.

 

http://m.youtube.com/index?desktop_uri=/&gl=US#/watch?v=zGtI0w

This guy bano trades price using level 1 data and bases his entries/exits on his ability to read the action. Check it.

 

PA by itself can be filtered. There's more potential in PA if not used by itself

 

Price is essential but I wouldn't exclude TA at all. Much of TA is based on price, just know that your indicators and other tools will be wrong in certain instances. There's no magic bullet out there; just use all the tools that you feel are helpful in achieving your goals.

 

Interesting statement athlonman. Can you please elaborate? Thanks