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Price Action and Trading Discussion

  • #1,121
  • Apr 1, 2012 3:16am Apr 1, 2012 3:16am
Hey guys

Just had a quick look at this thread, looks good.

I trade PA with NO indicators, just plain old candles and horizontal lines.

Will start posting from next week.

Cheers
  • #1,122
  • Apr 1, 2012 4:04am Apr 1, 2012 4:04am
Quoting dezatrader
Another course with bunch of indicators. Don't know any successful Forex trader using the SMA crosses for trading. Have you ever tried pure Price Volatility for trading? Price, this is the only leading indicator.
sorry, this is complete rubbish, i personally know many trades and even floor managers in hedge funds and nearly all of them use sma's in their trading, nearly all use trend and price action too...

Relying purely on the indicators for sure is gonna fail... but ma's have been used forever and always will...

well known pro traders using them include raghee horner, turtle traders, steve primo, chris capre... etc etc etc
tradewith60
  • #1,123
  • Apr 1, 2012 7:19am Apr 1, 2012 7:19am
Quoting 60minuteman
sorry, this is complete rubbish, i personally know many trades and even floor managers in hedge funds and nearly all of them use sma's in their trading, nearly all use trend and price action too...

Relying purely on the indicators for sure is gonna fail... but ma's have been used forever and always will...

well known pro traders using them include raghee horner, turtle traders, steve primo, chris capre... etc etc etc
Hi guys,

Everyone has their own methods of trading. What works for one may not entirely work for another.

The turtle traders are a perfect example of that concept. If you havent read the books about them then I would recommend it they are a good read.

You may show two traders a perfectly good way to trade profitably but one trader may not follow it as they should or one may not have the right pyschological mindset to do what another does etc, therefore they will have different results.

If what you do works for you then keep doing it simple as that as far as I am concerned.

Indicators... well indicators are created by price...... take from that what you will

Again each trader to their own methods and use of indicators, they can useful depending on your trading style and method.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,124
  • Apr 1, 2012 8:04am Apr 1, 2012 8:04am
Quoting DarkWolF
Hi guys,

Everyone has their own methods of trading. What works for one may not entirely work for another.

The turtle traders are a perfect example of that concept. If you havent read the books about them then I would recommend it they are a good read.

You may show two traders a perfectly good way to trade profitably but one trader may not follow it as they should or one may not have the right pyschological mindset to do what another does etc, therefore they will have different results.

If what you do works for you then keep doing...
Hi wolfy, nice to see you back... and talking sense.... rare commodity on forums for sure..
tradewith60
  • #1,125
  • Apr 1, 2012 8:16am Apr 1, 2012 8:16am
gu h4

my trade friday on gu... Just using daily levels and h4 price action

should point out that I had done analysis on GU prior to the week starting and just using swing hi, lows determined GU was long bias, so I was waiting for price action off a daily line suggesting longs were good
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2012-04-01 at 14.06.46.jpg Size: 103 KB
tradewith60
  • #1,126
  • Apr 1, 2012 8:59am Apr 1, 2012 8:59am
Quoting dezatrader
Another course with bunch of indicators. Don't know any successful Forex trader using the SMA crosses for trading. Have you ever tried pure Price Volatility for trading? Price, this is the only leading indicator.
He doesnt use the SMA cross
  • #1,127
  • Apr 1, 2012 9:01am Apr 1, 2012 9:01am
Quoting DarkWolF
Hi Dan,

Search on youtube for hectortrader also and you will get a chance to look at what he does before committing to buying his content.

Here is a link to his youtube pages:

http://www.youtube.com/user/Yaguex/videos

Seems as if the links I try to post do not show up:

Search for Yaguex on you tube that is his username that will take you to his videos.

He essentially trades in direction of trends using 3SMA's using a break, pullback, continuation of trend lines and horizontal areas.

I would think that kind of thing would...
Cheers mate, just going through his videos. Noticed he uses the same MA's as Musashi - 30, 50, 100 for trend, trading in that direction off key levels with PA
  • #1,128
  • Edited 9:34am Apr 1, 2012 9:21am | Edited 9:34am
Quoting dan89
He doesnt use the SMA cross
Ya no crosses in his style of trading, simply uses it as a trend filter.

However I believe one should be able to see wether price is trending or not simply by looking at the chart. A simple trend line drawn on a chart should give you enough information.

But for a good visual then sure it can be used to remind you what direction price is moving.

If you want to read about someone who makes good use of moving averages then look up Daryl Guppy, an Australian stock trader who uses the multiple moving average method to determine how price is reacting. But he does not use moving averages to trigger trades at all just the relationship between price and what the moving averages are doing.

It is however a lot of moving averages on your chart, but geez its very visual you cant mistake what way price is going.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,129
  • Apr 1, 2012 9:32am Apr 1, 2012 9:32am
Quoting dan89
Cheers mate, just going through his videos. Noticed he uses the same MA's as Musashi - 30, 50, 100 for trend, trading in that direction off key levels with PA
No probs at all.

Well really it doesnt overly matter what time frame of MA you use they will ultimately give you the same result.

It could be 150, 60, 30 or 350, 100, 50 etc they will all show you that a trend is in place. And when looking back on a chart you will no doubt see some point in time where it looks as if price is respecting a particular moving average. Just like you could place a CCI on your chart and see how price reacted when it hit a certain level etc etc etc.

Does it give you an edge, well possibly. And if it does and it works for you then keep doing it.

Think you will find that Musashi uses ema not sma, not that it makes all that much difference ema simply follows price a little closer.

Look beyond the MA's in Hectors method and what is he ultimately looking at ?

Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,130
  • Apr 1, 2012 9:36am Apr 1, 2012 9:36am
Quoting 60minuteman
Hi wolfy, nice to see you back... and talking sense.... rare commodity on forums for sure..
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,131
  • Apr 1, 2012 9:39am Apr 1, 2012 9:39am
Quoting 60minuteman
gu h4

my trade friday on gu... Just using daily levels and h4 price action

should point out that I had done analysis on GU prior to the week starting and just using swing hi, lows determined GU was long bias, so I was waiting for price action off a daily line suggesting longs were good
Hi 60,

Do you have any screenshots that show your buy / sell orders etc on the charts as entry levels to your trades ?
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,132
  • Apr 1, 2012 9:42am Apr 1, 2012 9:42am
Quoting Spongebob123
Hey guys

Just had a quick look at this thread, looks good.

I trade PA with NO indicators, just plain old candles and horizontal lines.

Will start posting from next week.

Cheers
Hi Spongebob,

Look forward to seeing some of your charts and analysis next week.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,133
  • Apr 1, 2012 10:08am Apr 1, 2012 10:08am
Quoting DarkWolF
Hi 60,

Do you have any screenshots that show your buy / sell orders etc on the charts as entry levels to your trades ?
the entry would of been the break of the green engulfing bar after the red pinbar.

Cheers
Dan
  • #1,134
  • Apr 1, 2012 10:27am Apr 1, 2012 10:27am
Quoting DarkWolF
Hi 60,

Do you have any screenshots that show your buy / sell orders etc on the charts as entry levels to your trades ?
just this one I took in Asian session after entry
Attached Image (click to enlarge)
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tradewith60
  • #1,135
  • Apr 1, 2012 6:41pm Apr 1, 2012 6:41pm
Trend lines and horizontal areas.

Keeping an eye on this one to see where it heads.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 87 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,136
  • Apr 1, 2012 6:56pm Apr 1, 2012 6:56pm
Quoting dan89
the entry would of been the break of the green engulfing bar after the red pinbar.

Cheers
Dan
Ya 60mm method is the engulfing/outside bars but I would simply like to see actual trades taken hence the actual buy and sell lines on the chart.

Simply screenshot once trade is active or screenshot when you place your pending order in the market to show others where you exactly got in or are looking to enter the market.

Just makes it a bit easier for those viewing the charts to visually see it.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,137
  • Apr 1, 2012 9:25pm Apr 1, 2012 9:25pm
I started actually paying attention to the fundamentals of the forex (trading for a month) and for this week I feel going short on AUD/CAD would be a good idea. The permit news being much worse than expected gives me confidence. However, I will watch out on Thursday, because I expect CAD to get some bad news that day.
Play the players, not the cards.
  • #1,138
  • Apr 2, 2012 6:42am Apr 2, 2012 6:42am
Quoting DarkWolF
Trend lines and horizontal areas.

Keeping an eye on this one to see where it heads.
  • #1,139
  • Apr 2, 2012 11:16am Apr 2, 2012 11:16am
Quoting DarkWolF
Hi guys,

Everyone has their own methods of trading. What works for one may not entirely work for another.

The turtle traders are a perfect example of that concept. If you havent read the books about them then I would recommend it they are a good read.

You may show two traders a perfectly good way to trade profitably but one trader may not follow it as they should or one may not have the right pyschological mindset to do what another does etc, therefore they will have different results.

If what you do works for you then keep doing...
Well said, DarkWolf.
How would you describe your trading style recently?
I notice you were moving into the higher tf to trade?
Trade As A Sniper
  • #1,140
  • Apr 2, 2012 1:17pm Apr 2, 2012 1:17pm
Hey guys

No trades for me today, yet here are some of my previous trades.

Cheers
Attached Image (click to enlarge)
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