Lets assume that price action (TA) definitely works. If someone started a very detailed thread that the whole world read that explains a profitable method, and then everyone started trading the method and making consisteent money, would the market dynamics somehow change so much that support/resistance/price action stopped working? thanks
I doubt most pure price action traders would agree with you equating PA and TA. Did you mean to say PA??? In fact, many price action traders have abandoned TA (indicators, Fib, Gann, EW, etc.) because they find TA is mostly a waste of time...
I see. I generally hear traders call it Technical analysis even when they are only looking at price without indicators. I guess people have there own definitions. But what is your answer to the question? thx
that seems to be the general consensus among trading forums i visit. 'Traderzones' disagrees. Doesn't really matter in realation to my question tho. Would the markets somehow find a way to make something like priceaction stop working if someone explained it to the whole world on TV?
Impossible unless the method is a mechanical system and the code for that mechanical system was then shared. Therefore, if your talking about a price action method used by discretionary traders... It's impossible for it to stop working because of the characteristics of a discretionary trader. Simply, we all don't think the same, have different routines, different brokers, different speed connections, different data vendors, different crap going on in our personal lives that impact how we approach any trading day. Therefore, using the exact same price action only method will still produce different entries, different exits et cetera. Throw in the usual discipline problems most discretionary traders have and that all by itself prevents traders from having the same results while using the exact same trade method. Mark
You guys need to read between the lines about TraderZones...a walking contradiction or hypocrite about TA and SPAMMERS. It's well documented here at ET about his past spam and TA debates via his usernames TraderZones and rcanfiel. It's just confusing to some when you see him bashing TA while supporting price action and bashing spammers while being a spammer himself in the past here at ET. There are many branches of TA and he's talking about one specific branch involving indicators. Simply, he sometimes gets confused when talking negatively about indicators via using the word TA. Thus, most price action traders use TA but do not use indicators... That's true and is what he's really trying to say. Another way to look at it, he's on record in stating that price actions like wedges, triangles, s/r levels are not TA because he considers TA only to be indicators. Mark