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Pure Price Action Trading - NO lines or indicators

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  • Post #1
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  • First Post: Dec 6, 2013 4:49pm Dec 6, 2013 4:49pm
  •  Mnmlst_Trdr
  • | Joined Nov 2013 | Status: Member | 41 Posts
I am starting this thread to find out if anyone is successful trading a totally clean chart with No lines or indicators? I really do see how drawing lines can be helpful sometimes but I also find them distracting. I have entered many a trade too early or exited too late because of some line drawn that gave me false hope or doubt. It seems as if everything you need to know can be determined by looking at a pure, clean candlestick chart.

What else is there to look for other than classic candlestick formations like the dojo, hammer, pin bar, harami, outside and inside bar, etc?
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  • Post #2
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  • Dec 6, 2013 4:52pm Dec 6, 2013 4:52pm
  •  Vitez
  • | Joined Nov 2012 | Status: Member | 607 Posts
Not successfull yet but there you have trendlines, fibo, suport resistance and supply and demand.
 
 
  • Post #3
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  • Dec 6, 2013 5:42pm Dec 6, 2013 5:42pm
  •  diceman555
  • Joined Jun 2009 | Status: Member | 5,529 Posts
There is so much more to look for
 
 
  • Post #4
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  • Dec 6, 2013 5:53pm Dec 6, 2013 5:53pm
  •  bradu
  • | Joined Sep 2010 | Status: Member | 457 Posts
Quoting diceman555
Disliked
There is so much more to look for
Ignored
please, elaborate
 
 
  • Post #5
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  • Dec 6, 2013 6:25pm Dec 6, 2013 6:25pm
  •  Mnmlst_Trdr
  • | Joined Nov 2013 | Status: Member | 41 Posts
Quoting diceman555
Disliked
There is so much more to look for
Ignored
I was giving examples of areas on the chart where I price action seemed pretty obvious without any lines drawn.
 
 
  • Post #6
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  • Dec 6, 2013 6:31pm Dec 6, 2013 6:31pm
  •  bradu
  • | Joined Sep 2010 | Status: Member | 457 Posts
Quoting Mnmlst_Trdr
Disliked
{quote} I was giving examples of areas on the chart where I price action seemed pretty obvious without any lines drawn.
Ignored

hey,

i was going to ask...what are those arrows..signals where to enter or highlighed areas for showing direction ?

thanks in advance
 
 
  • Post #7
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  • Dec 6, 2013 6:36pm Dec 6, 2013 6:36pm
  •  Mnmlst_Trdr
  • | Joined Nov 2013 | Status: Member | 41 Posts
Quoting bradu
Disliked
{quote} hey, i was going to ask...what are those arrows..signals where to enter or highlighed areas for showing direction ? thanks in advance
Ignored
The arrows are where I felt there were obvious price action setups without any lines drawn. It is so distracting to me having lines drawn all over.
 
 
  • Post #8
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  • Dec 6, 2013 7:01pm Dec 6, 2013 7:01pm
  •  forexforex
  • | Joined Aug 2006 | Status: Member | 230 Posts
Hi Mnmlst_Trdr ,
Been trading this style, no indicator an lines for 7 months now with great success. Well, I use median line only, H=L/2. I use 4H, 30min chart & 5min for entry and PA confirmation.
I used to be a proponent believer of indicators, but I got rid of all my indicators as a challenge to myself that in can be done. Well, It can be done!
 
 
  • Post #9
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  • Edited 4:12am Dec 7, 2013 3:06am | Edited 4:12am
  •  Gareth22
  • | Joined Dec 2013 | Status: Member | 171 Posts
Wish you all the best with this method, wouldn't you get lots of false signals though? E.g a pin bar is showing a rejection of something if it's not rejecting a line or an ma then what is it rejecting? Same with an indecision candle?

Regards,
 
 
  • Post #10
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  • Dec 7, 2013 7:45am Dec 7, 2013 7:45am
  •  Pipomagic
  • Joined May 2013 | Status: Coder, Trader & Optimist | 209 Posts
Lines are only distracting if you doubt them not when you believe in and follow them.
DON'T TRADE THE DIRECTION, TRADE THE MOVE
 
 
  • Post #11
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  • Dec 7, 2013 9:41am Dec 7, 2013 9:41am
  •  diceman555
  • Joined Jun 2009 | Status: Member | 5,529 Posts
Quoting bradu
Disliked
{quote} please, elaborate
Ignored
I dont like indis on my trading charts.although I use lines.Watching the quotes at key levels is invaluable.watching the overall market flow is an edge in its self.you can get entry with more confidence
 
 
  • Post #12
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  • Dec 7, 2013 9:44am Dec 7, 2013 9:44am
  •  diceman555
  • Joined Jun 2009 | Status: Member | 5,529 Posts
Quoting Mnmlst_Trdr
Disliked
{quote} I was giving examples of areas on the chart where I price action seemed pretty obvious without any lines drawn.
Ignored

Sorry mnmist.i wasnt being negative just got destracted and didnt finish my post
 
 
  • Post #13
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  • Dec 7, 2013 10:32am Dec 7, 2013 10:32am
  •  jw1981
  • | Joined Nov 2012 | Status: Member | 470 Posts
I have been trading a somewhat similar method.. find it a lot more better than using trend lines or tons of oscillators.

I only throw in a 200 day WMA as a trend filter.. signals are triggered off candle stick patterns. Been trading this on a demo with a very decent success rate for 2 months now... Call it karma... but when I took on 2 live trades, things went horribly wrong.. EURGBP and GBPCHF... just a few pips from hitting my stop loss.. hopefully it will be a good (yet pricey) lesson to learn, while the trades I took on on a demo hit their TP like a dart hitting the bullseye.

I do intend to continue trading this way though.

P.S: Noticed that you use TV charts... I use them myself and they're pretty good when it comes to post trade analysis.
 
 
  • Post #14
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  • Dec 7, 2013 10:58am Dec 7, 2013 10:58am
  •  SeanyTsunami
  • | Joined Apr 2013 | Status: J16. | 101 Posts
No indicators are needed in trading. But drawing in boundaries of price help. Wedges, flags and horizontal boxes are some of the most useful tools in trading.
 
 
  • Post #15
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  • Dec 7, 2013 10:58am Dec 7, 2013 10:58am
  •  SeanyTsunami
  • | Joined Apr 2013 | Status: J16. | 101 Posts
Also a reminder to some, be careful trading in December as we can see some thin markets being it is holiday season.
 
 
  • Post #16
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  • Dec 7, 2013 2:35pm Dec 7, 2013 2:35pm
  •  bmac
  • | Joined Feb 2007 | Status: sanity questionable | 177 Posts
Quoting Mnmlst_Trdr
Disliked
What else is there to look for other than classic candlestick formations like the dojo, hammer, pin bar, harami, outside and inside bar, etc? {image}
Ignored
By definition, post analysis there should be a "what" somewhere within the technical analysis. But the question may be a "why". As in: Why wasn't I thinking or seeing or speculating the extreme swing points as the best place to buy or sell?

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Charts are limited in nature. The market does not hide, it can not hide.
 
 
  • Post #17
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  • Dec 7, 2013 3:13pm Dec 7, 2013 3:13pm
  •  made2trade
  • | Joined Sep 2013 | Status: Member | 22 Posts
What else to look for? Beyond candles?

Remember the old adage, the trend is your friend.

Look for a a trending condition that you are trading into. HH, HL or LH, LL.

Don't trade into a mess of consolidation. See a trend clearly.

Price busts thru s/r levels on a regular and seemingly random basis. The reason so many reversal traders have streaks of wins followed by days of being run over by a freight train of price. . . and loss of all the profitable days.
 
 
  • Post #18
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  • Dec 7, 2013 4:41pm Dec 7, 2013 4:41pm
  •  diceman555
  • Joined Jun 2009 | Status: Member | 5,529 Posts
Quoting made2trade
Disliked
What else to look for? Beyond candles? Remember the old adage, the trend is your friend. Look for a a trending condition that you are trading into. HH, HL or LH, LL. Don't trade into a mess of consolidation. See a trend clearly. Price busts thru s/r levels on a regular and seemingly random basis. The reason so many reversal traders have streaks of wins followed by days of being run over by a freight train of price. . . and loss of all the profitable days.
Ignored
this is very true regarding s r levels.i have 2 ways of dealing with this.firstly if the overall stall point breaks before my chosen trading pair has.i will trade into the level to test .if it bounces I got good exit on entry price.secondly if it bounces or breaks I only take the trade for similar reasons as to first.i let the stall point on overall market direct me
 
 
  • Post #19
  • Quote
  • Dec 7, 2013 6:10pm Dec 7, 2013 6:10pm
  •  Mnmlst_Trdr
  • | Joined Nov 2013 | Status: Member | 41 Posts
I really appreciate everyone's feedback! You all make great points, er pips! LOL
 
 
  • Post #20
  • Quote
  • Dec 7, 2013 6:12pm Dec 7, 2013 6:12pm
  •  Mnmlst_Trdr
  • | Joined Nov 2013 | Status: Member | 41 Posts
Quoting Pipomagic
Disliked
Lines are only distracting if you doubt them not when you believe in and follow them.
Ignored
Sort of my point about believing in a drawn in line. I don't want to expect something to happen. Besides, you should always wait for confirmation and the confirmation in itself is a trade entry. No lines needed, right?
 
 
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