There is no such thing as price action.

Professor,

I think I saw this under the definition of 'obvious' in the dictionary.

(just pulling your chain)

 

OR, you could follow the advice I gave you on an earlier post about practicing it on a sim for an hour a day x 1000 days. And stop looking for a shortcut that doesn't exist . . .

 

Could you enlighten me on what you mean by this statement?

Any chart that is used is going to have variables - that is why a chart is even needed, to plot said variables.

(I must not be understanding the context of the statement?)

example of the kind of variable I mean:

- price decides to skip over a couple of ticks before the next print - yet the bar will show just the same as if each tick had printed - therefore one could say that those 2 bars have variable composition but that they both may still indicate a breakout or whatever.

 

Also! Nicely done! Russelldaytrade! But lets redefine the term and put this dog to rest so it becomes easier for the rest of ET-land and beyond to clearly understand the term so its no longer vague. Lets just say Real Time price action is (DOM)! And delayed price action is the accumulation of old data which includes the following= set ups (pattern recognition), charts and (point and figure).

 

I am following that advice and am already approaching the magic number. Remember, I have traded, just not full time.

Again, I'm not looking for a shortcut, just trying to learn from those who know more than I.

Plus, I like to ask questions of those who might the see the market the way I'm seeing it --

And your use of DOM is what I'm gravitating towards.

I'm wondering if those of us who react to DOM are more attuned to numbers than charts. When I trade stocks, I look at charts and the price (I've tried to cut out all indicators) and many times, I find that my best trades are based on the actual price. If you've read Wyckoff, you know what I mean.

I'm trying to get a better handle on how that price and how we get to that price relates to buying and selling pressure. No shortcuts. Just as much clarity as I can glean.

 

Zodiac4u,

I might be starting to agree with this. That PA is reading the DOM.

Reading charts would be reading charts or TA.

Now, examining this more closely, on the DOM, the number of contracts or shares traded at certain prices, establishes the extremes of each move. That's how S/R shows itself on the DOM. It's a number -- A price above which or below which the stock/contract will not move... for the time being.

Would you say the number of contracts/shares traded at that price helps confirm the strength of that S/R at that moment as your "reading" the DOM? (I have the total number of contracts (ES) traded at each price as one of my DOM readings.)

 

Excuse me,

but

what is DOM?

 

Depth-Of-Market

 

I agree. I just instruct people to trade in a single direction until they become comfortable with reversing their position.