Listen, the issue is not with me. Its with someone else. I got wind of it and started poking around a little. Seriously, as someone stated...there's a ignore feature here at the forum. Yet, even better, there's a moderator or Baron to do their usual thing via removing offending message posts. Yet, that's the problem...there's no offending message posts just a few sarcastic commentary by someone that knows more than he should know. P.S. 1/2 Lakota 1/2 French here...I've been called worst than a deranged prick. Yet, lately, I prefer to keep a smile on my face...post a lot of sarcasm during this Pandemic. Don't take it personal because it really isn't personal to me...just a weird humour to get thru another day stuck at home...sort'uv. P.S.S. You weren't in on the joke...I was able to figure it out. wrbtrader
Ok, I'm back, 5.15am here. This Erin person I highly suspect is the female impersonator who was here a year or two back who Poopy called out, she got booted from ET. Forgotten the name atm.
Here's a slightly lengthy post on PA..... There is NO Story on bar by bar price action. Every bar is unique to a large degree. I defy anyone to predict what the next bar will do consistently - it's impossible! The next bar can have anyone of scores of possibilities. Up, down, flat. Up hard, up medium, up small. Etc etc using these type combinations. Closing on high, closing near high, closing mid range, closing lower, blah blah blah. High volume, lower volume etc An example, look at all the combinations of candlestick bars.... Every bar to a degree is random!!! GOTTIT? No-one knows Who will place the next trade. Anyone of thousands of traders can place the next trade and everyone of those traders will have a different REASON why they bought or sold. No one has control WHO is trading, it could be a clueless idiot placing a trade. Therefore, no bar has a story which can be interpreted.
The way PA or TA should work, is that over a culmination of multiple trades, a picture evolves. That picture then gives clues on probability. But there is no pattern of a couple of bars where you can say definitely it will do "such and such".
By the way, I blocked Erin, 'she' decided to ignore me, so I thought, "get lost then". That's besides the fact she is spouting some type of PA religion which is a crock of sh**.
That is all there really is. Everything else represent embellishments. But in the end, that is all price can do - rally, decline, or range. This is no doubt very difficult to do. Fortunately, we do not need to do that in order to make money. I can agree with all of that but your conclusion does not follow: We do not need to know any of the things you think we must know in order to interpret the data as it comes and use that data to identify moments where the immediate trend of the market cannot be ascertained with some degree of probability. It may only e 60/40. But that is all we need over time to run a profitable trading operation. Price bars are like people, Mickey. Everyone has a story. But so few care to listen.
If there is a price bar story, 100 traders will interpret the story differently, so you'll end up with 100 stories.
I think she has either been banned or asked to have her nick killed off. Again, I would suggest that we do not need certainty in order to be profitable, Mickey. And I believe you overestimate the amount of data required to deduce a probability of one thing being more likely to happen than another. We probably agree on 90% of the statements you generate, but we will disagree on conclusions. Somewhere in there is a conversation worth having in there but for the life of me I don't know how to find it.
Actually not a lot. A zillion lines or indicators not required. It takes very little to interpret a general idea on market direction imo. Stock by stock or bar by bar is very difficult compared to reading the market as a whole, imo.
First, that is manifestly not true. I could identify for you signal "bars" and "trigger" bars each and everyday that are signals and triggers for many, many traders. Also, while this somehow became about "bar by bar," I have never felt as though I am in anyway a "bar by bar" trader. I do have more than a passing familiarity with Al Brooks's trading method and use several of his concepts daily. But he fvcked that up by choosing "bar by bar" as the title of his book rather than calling it Brooks's Price Action Method or something like that. It is notable that his vidoe course is Brooks Price Action Trading Course," and not "Bar by Bar Trading." That is significant because what I do, and what Brooks teaches, for example, is really not "bar by bar." It is very much price as a continuous flow of information. The "bars" simply refer to the manner in which that information is arbitrarily bundled into "bytes" of information and displayed graphically on a chart. I'm telling you Mickey. One of these days I'll have you visit with me and a couple of my friends and you can watch us trade. If you are at all open minded and honest, I believe it could change some of your opinions regarding what is and is not possible regarding the real time interpretations of price action. I may be mistaken but I took you to mean that it takes days or weeks to get an idea of where the market is heading. That is a lot of data in my world and again I may have misread you. I myself can usually get a pretty good idea in about 15 to 30 minutes, and sometimes quicker than that.