ya still dont get it do ya, you cant look at a post-chart for price action ya gotta watch the DOM, ok, are u with me yet. or are you still retail ?
Kappy... This is the Forex Trading thread section...not Futures? The new MT5 has dom however...its just not ready yet...☺ ES
Hey, Not fair, you're now using the phrase "pure price action". That's normally used by those not using charts as in "tape reading (tape analysis)" or "quote screens only". If that's what you meant, the best way is to learn such primarily via video recordings as such seen being posted on youtube. I don't know how informative that stuff is but it's easily searchable on youtube or google. http://www.youtube.com/results?search_query=Tape+Reading&aq=f http://www.google.ca/search?q=Tape+Reading&tbo=p&tbs=vid:1&source=vgc&hl=en However, if you're talking about "price action trading" via charts without indicators...there's dozens of threads about such here at EliteTrader.com with detailed chart examples (e.g. support/resistance, Japanese Candlesticks, swing points, reaction points, intermarket analysis et cetera). I have my own thread here called Trading Hammers (revisited) @ http://www.elitetrader.com/vb/showthread.php?s=&threadid=52880 although it's not my primary price action only method. Mark
We need a new thread...What do you guys want to call it...? My thoughts are 1)Retail Forex 2)Price Action with some TA (because we do not have DOM) 3)Get our hands dirty and really trade. Don't worry Oanda will take 50 buck live accounts and we can learn live and who cares if we lose 50 bucks right? Any comments? ES P.S. If we are lucky we can challenge some of these Pro Future Guys to show us their stuff...if they can trade futures wholesale... it should be a piece of cake to trade retail Forex for them...right? and maybe we can learn something?
Exactly and I heard such before by those not informed that think all institutional traders, hedge funds or any other professional entity don't use charts. Just watch any interview on CNBC, Bloomberg or any other financial TV network of these guys from their offices and you'll see traders in the background with charts on their screens. Heck, you can see charts on some of the screens of those working directly with floor traders at the exchanges itself whenever you see TV networks showing live on TV. Even better, go visit several different institutional firms any you'll see some of their traders with charts next to their heavy duty quote screens although some may deny using the charts on their monitors. Simply, unless someone is blind, it's an illusion to believe only us retail folks are using charts. Mark
I am testing an arbing automation... but I cannot share it here in ET because it is a commercial EA for MT4 that is for sale. Besides I cannot make it profitable yet...it is just a test anyways. I was attracted to this thread becuase of its title. I want to get away from indicators and more into raw trading. I need to re-learn instinct. The answer is not in automation...indicators....etc... Years ago I used to trade with spreadsheets (excel) I think those were my best years. ES
It stopped working, I guess...I do not remember what went wrong, but I have fond memories of the work.. ah hell...maybe I should sell the Wifey and move the house to Las Vegas and trade with the Brudda's (Bright Trading). ES
Using a completely bogus and illusionary concept, a short trade was had right at a previous s/r, 3745. And we can see how price kept bouncing off of the illusionary 3725 area until it finally broke through (a good long opp)--probably some stops piled up above there as price surged pretty hard and fast up to the previous high. Lots of good price action on the E/U this morning.