I repeat, it's not just one day or certain days. There are plenty of examples that nullify any gold on this method. Incognito
If threre is something I understand, is price action, because it is the only method I trade, as all else is worthless. My point which is the same point I had on my first post of this thread, is that if price action says we turn, adv-decl wont' tell you any sooner. Watching Adv-Decl is useless. Incognito
(thread hijack) It never ceases to amaze me how on ET when someone finds something that works well for THEM it's suddenly open season on them by folks looking to trash 'em and their strategy. I'll link to what I said in another thread that devolved along similar lines: http://elitetrader.com/vb/showthread.php?s=&postid=1945826#post1945826 (end thread hijack)
Perhaps because of the constant worthless info posted. You really think this Adv-Decl works? You think Volente's Rule of Crap 10 works ? How about chart patterns, think they work over time ? MA Crossovers ? I could go on posting worthless methods but I think you get the picture. There is a reason 95%+, or whatever the hell that number is, does not make it and that reason is because the only thing that works cannot be explained in a freaking ET thread. The market is way too complex, the psychology involved goes beyond words because the winning formula is directly related to years and years of experience. It just shows the ignorance that adorns this forum. Show me someone talking about Wyckoff and I assure you, I will shut the fuck up, in the meantime when I see a bullshit method I will raise hell because it's false spread of information. Incognito
Hi Incognito, I am an advocate of price action as well. Let's get your scalper thread going since I am interested in your input. Posting some charts would be appreciated.
Just thought I'd tell you that I watch the NYSE A/D line everyday. I've watched it for decades. LOL. Believe me, I wouldn't be watching it if I didn't think there was something useful in it. I don't do anything as formal as watching a chart of it. I just watch how it acts relative to what the market does. That said, on the NYSE there are something like 3200 stocks that trade. Where do you get the number 6000? Or 10000? Thanks OldTrader
You got a few things to learn. Price action is definitely valuable. I use it myself. But everything else is not worthless. Rather, there is a whole variety of things that provide context to price action. If you don't understand the context then you are basically doomed to chasing ticks around. You're right....price action will tell you when a turn is at hand, sometimes well before the A/D says anything. Of course, price action will tell you of some little piker turn as well, which had you known the context of the market you might have ignored. In fact, you might have used that small contra-trend move to establish or add to a position. By the way, there are times when the A/D is definitely telling you a specific direction. Price action won't go for long against the entire market unless something changes in the A/D. OldTrader
So once ADV/DECL gives you a strong reading and price follows, do you just enter indiscriminately at that point, either at the 15 or 30-minute mark? Or do you have specific timing criteria in addition to this directional criteria which is identified at the 15- or 30-minute mark?