Price Action Traders

Here here

 

I manage to get by. Since I cannot predict what will be reported and the resulting price action is usually a bit more exciting than I like, I prefer to let other, braver souls have at it. Sometimes the preceding price action suggests the post-report response. Sometimes it doesn't. By and large, my setups are not as reliable at around report time as they are during normal market activity. Just living within my limitations.

 

Very good post. I incorporate a lot of these ideas in my trading.

 

I think this whole thread has fallen into the trap of being enamoured with scalps and short trades. IMO the low risk money is in catching a big chunk of the day, if it is directional. I have always thought that brokers pay prominent authors sub rosa to advocate frequent trading during the day, Jack Hershey being the most egregious example here.

 

But how can you know ahead of time when that will be? Sometimes the most innocuous setups result in great moves, while at other times drop-dead-gorgeous setups amount to nothing. Unless you are referring to trade management following entry?

 

How many years have I encouraged you to tune out of the distractions of the Tonal and dream in the pure price awareness of the Nagual? Trade management goes without saying. Dream trading every night (a hard-on is not contra-indicated, and may actually help) and you will see it. But backtest it before you trade it.

 

Indeed. And on more than one occasion it has prevented me from rolling off the bed.

 

For nearly ten years I studied first TA, then anti-TA (Hershey), then Doaks TA (anti-Hershey), all for nought, but not at no expense. Then last fall I started dreaming systems that worked. I still dream them. But more and more redheads are taking over again.

 

Not to argue but I can with volume charts.

 

Watch those redheads. They are harbingers of losing trades. When you dream of green hair, then you know you're on the right track. Just don't get punked.