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Reading Price Action


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Reading Price Action

  #31 (permalink)
dgo1
UK
 
Posts: 3 since Jul 2009
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Hi Garry

The charts you have posted have been really interesting. Would like to see you carry on developing this thread.


Dave.


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  #32 (permalink)
 
RJay's Avatar
 RJay 
Hartford, CT. USA
 
Experience: Intermediate
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lolu View Post
How useful is the "RealStats_SharkyPkg" (which is Sharky's version of the "jtRealStats" indy) to read Price Action and volume ? Although I've always had it as part of Sharky's setup on my chart, I've just been closely studying it since morning (GMT + 1) today; and it looks interesting.

Lolu

Lolu,

I like this indicator too. It will be a part of my system.

I decided I needed to improve its display for easier viewing.

I am creating my own version of this indicator. (jtRealStats_RJay)

I will post a picture for all to see.

However, it will only be available for download in the VIP forum.

RJay

  #33 (permalink)
 TheRumpledOne 
Tucson, AZ
 
Posts: 413 since Aug 2009




You don't need anything proprietary to read price action.

You don't need any indicators to read price action.

Price either moves up or down. That's it. That's all the price action there is.

Price is moving up and hits a line, go long.

Price is moving down and hits a line, go short.

That is all the price action there is.

TRADING IS SIMPLE.

DO NOT BE FOOLED.

  #34 (permalink)
 
RJay's Avatar
 RJay 
Hartford, CT. USA
 
Experience: Intermediate
Platform: NinjaTrader
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TheRumpledOne View Post

You don't need anything proprietary to read price action.

You don't need any indicators to read price action.

Price either moves up or down. That's it. That's all the price action there is.

Price is moving up and hits a line, go long.

Price is moving down and hits a line, go short.

That is all the price action there is.

TRADING IS SIMPLE.

DO NOT BE FOOLED.

TRO,

I am studying volume to help me understand the markets!!!

Volume is interesting to me becouse it shows me what everyone else is doing.

Since the majority of them are wrong most of the time, I learn from their mistakes.

I am also interested in your trading style??? Will you share in more detail???

I try to keep an open mind, like most members here.

RJay

  #35 (permalink)
 TheRumpledOne 
Tucson, AZ
 
Posts: 413 since Aug 2009


RJay View Post
TRO,

I am studying volume to help me understand the markets!!!

Volume is interesting to me becouse it shows me what everyone else is doing.

Since the majority of them are wrong most of the time, I learn from their mistakes.

I am also interested in your trading style??? Will you share in more detail???

I try to keep an open mind, like most members here.

RJay

First, there is nothing to understand other than price goes up and down. As a trader, your only "job" is to make money. Why something happens is irrelevant. What is important is that you take appropriate action based on what is happening.

There are no more "details". If price is going up, I buy. Either I make a profit or my stop loss is hit. It is that simple.

  #36 (permalink)
 mkw111 
Nashville TN
 
Experience: Beginner
Platform: NINJA
Posts: 18 since Jun 2009
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I jear that advanced trading workshop uses VSA, anyone here of this company?

  #37 (permalink)
 
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 Ausy Mick 
Florida
 
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mkw111 View Post
I jear that advanced trading workshop uses VSA, anyone here of this company?

Hi mkw111

At the ATW they do use VSA. Andy uses it on a 1min chart and basically watches for
3 things - upthrust bars, down thrust bars and also the low volume test. I attended a
free 30 day trial period with them and enjoyed it ( incase anyone wonders: No I am not from the ATW .....)

Take care

Mick

  #38 (permalink)
 
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 lolu 
Lagos, Nigeria
Market Wizard
 
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mkw111 View Post
I jear that advanced trading workshop uses VSA, anyone here of this company?

Yeah, ATW has VSA as one of the trading strategies they offer. You can sign-on on a free Trial Trading room session. I had a 30-trial with them but I could not afford the fee to purchase the unlimited Trading room, indicators and other systems they offer.

ATW seems to have good training setups/systems that teach how to be a trader, NOT how to use systems.

Lolu

Visit my NexusFi Trade Journal
  #39 (permalink)
 mkw111 
Nashville TN
 
Experience: Beginner
Platform: NINJA
Posts: 18 since Jun 2009
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Has anyone experienced advanced trading workshop? They have three day seminar in vegas this month with live trading.

  #40 (permalink)
 GarryM 
Tucson AZ
 
Experience: Intermediate
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Broker: Interactive Brokers
Trading: es
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TRO,

I like your style, but to say it is simple, not sure I'll go with that one.
If it were simple everyone would be doing it, and this would be the only
profession in the world. What I will give you is that everyone is searching
for the Holy Grail (ie Get Rich Quick Scheme) and that is not the answer.

I have recently started paying more attention to volume, but I can say,
I have traded without it and have been OK.

What I do see with Volume is that it increases the odds in my favor.

I rely heavily on the following things to serve as guide posts in determining Market Direction: Trend lines, S & R, Candles, Patterns, Fibs, Pivots, Multiple Time Frames and Gaps.

Would you share with us what you use to Read Price Action?

Thanks for taking the time to participate in this thread.

Garry
Also from the old Pueblo.

Started this thread

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Last Updated on April 22, 2011


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