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Pure Price Action Trading - NO lines or indicators

  • #21
  • Dec 7, 2013 3:15pm Dec 7, 2013 3:15pm
Quoting jw1981
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...

I like Tradingview way better than FXTRADE that Oanda provides. If only one can trade directly from Tradingview!
  • #22
  • Dec 7, 2013 4:08pm Dec 7, 2013 4:08pm
Interesting scientific research paper on the effects of stop loss orders and round numbers. Proof that supply and demand trading works?

http://www.newyorkfed.org/research/s...orts/sr150.pdf
  • #23
  • Dec 7, 2013 7:21pm Dec 7, 2013 7:21pm
Yes clean charts are best but I honestly need my zone box drawn out on the chart. It helps me keep perspective on where price is when jumping to lower time frames. It's easy to see key zones on naked charts in larger time frames but I'm lost once I get down to my entry time frames, the 1 and 5 minute. So I must have my zones drawn.

1 hour view
Attached Image (click to enlarge)
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Now zoom in using the 5 minute. Look at that beautiful entry.
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SPC * Swollen PocketZ Crew!
  • #24
  • Dec 7, 2013 8:59pm Dec 7, 2013 8:59pm
good to see a pure price action thread. this is the point where every trader come after testing testing all indicators.
don't predict direction, but dance with flow of water
  • #25
  • Dec 8, 2013 9:19am Dec 8, 2013 9:19am
Quoting priceaction1
good to see a pure price action thread. this is the point where every trader come after testing testing all indicators.
Well put!
  • #26
  • Dec 8, 2013 10:46am Dec 8, 2013 10:46am
I am anticipating this supply level to hold and went short
Lets see.
Attached Image (click to enlarge)
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  • #27
  • Edited 11:37am Dec 8, 2013 11:17am | Edited 11:37am
Hi there, On the chart provided I don't see a sell-off underway. Highly probable on a clearly defined supply zone but it's not happening yet. That's one serious bull candle there. Clear your mind and don't anticipate anything. Well you can anticipate something substantial may happen there but that's it. You should not have gone short yet because the chart is not showing it yet. You don't need to catch every pip or point. If your homework was done well, there will be plenty of pips. You will never go broke leaving extra pips on the table. A good trader does not make predictions. A good trader follows the market. No one can predict the future unless you have access to a piece of information that will substantially move the market. I'm only saying this from experience as occasionally I jump the gun also. All it does is decrease your probability of a successful trade. I did it last week and the trade failed. A well thought out and planned price action setup executed properly is a high probability trade. These are the money makers.

Just wanted to share. This is such a mind game. The mind needs training.

Making a trade is fun and exciting. Waiting for a good trade is a borefest!!!! Rushing to the fun often leads to unhappiness.

Quoting timos
I am anticipating this supply level to hold and went short Lets see. {image}
SPC * Swollen PocketZ Crew!
  • #28
  • Dec 8, 2013 12:06pm Dec 8, 2013 12:06pm
Quoting timos
I am anticipating this supply level to hold and went short Lets see. {image}
Looks like a good supply area to me. I would have waited until price action is underway in the London market. Still looks like a low-risk trade though. Good luck!
  • #29
  • Dec 8, 2013 3:18pm Dec 8, 2013 3:18pm
Quoting JoeNY
Hi there, On the chart provided I don't see a sell-off underway. Highly probable on a clearly defined supply zone but it's not happening yet. That's one serious bull candle there. Clear your mind and don't anticipate anything. Well you can anticipate something substantial may happen there but that's it. You should not have gone short yet because the chart is not showing it yet. You don't need to catch every pip or point. If your homework was done well, there will be plenty of pips. You will never go broke leaving extra pips on the table. A good...
Thanks pal for your input and i agree with most of what you've said.But i've studied and seen enough to take this risk.It may not work all the time but when it works,it has great R:R
  • #30
  • Dec 8, 2013 3:19pm Dec 8, 2013 3:19pm
Quoting Mnmlst_Trdr
{quote} Looks like a good supply area to me. I would have waited until price action is underway in the London market. Still looks like a low-risk trade though. Good luck!
Hi pal,yes a confirmation would be "safer" etry.
  • #31
  • Dec 9, 2013 7:01am Dec 9, 2013 7:01am
Anyone have a current chart of the EURX. I don't and was wondering how this was working out for Timos.

Quoting timos
I am anticipating this supply level to hold and went short Lets see. {image}
SPC * Swollen PocketZ Crew!
  • #32
  • Edited 12:50am Dec 11, 2013 12:16am | Edited 12:50am
I love trading pure price but sometime i do have grid on the chart.Here is an example trade taking on monthly time frame as market pull back on the continuation i took the trade this as always work well for me.
Attached Image (click to enlarge)
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  • #33
  • Dec 11, 2013 12:20am Dec 11, 2013 12:20am
This is another one similar scenario
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #34
  • Dec 13, 2013 2:59pm Dec 13, 2013 2:59pm
Made some dumb impulse trades today. Ughhh...
  • #35
  • Dec 13, 2013 3:22pm Dec 13, 2013 3:22pm
I was just talking to other traders about this today and said the same thing, how its not even necessary to draw lines or anything once your eye is trained. I usually use one or two horizontal lines because I watch about 28 pairs it helps keep everything orginazed and neat mentally. I could see if you just followed a couple pair or something and remebered all of them. But if you dont then you would have to sift through candle by candle every time.

Good job though! Glad we got this in thread
All posts are my personal opinion
  • #36
  • Dec 14, 2013 3:27pm Dec 14, 2013 3:27pm
Euro Index can be found at forexltd.co.uk
Tim
  • #37
  • Dec 14, 2013 3:54pm Dec 14, 2013 3:54pm
Trading without volume for me is trading blind I cant trade without volume. Market makers like to give out false signals you can only see these with volume.
  • #38
  • Dec 17, 2013 11:58am Dec 17, 2013 11:58am
Quoting DrPippy
Trading without volume for me is trading blind I cant trade without volume. Market makers like to give out false signals you can only see these with volume.
That's why I always wait for the candle to close before entering / exiting. False signals have been very profitable for me by trading false breakouts.
  • #39
  • Dec 17, 2013 11:59am Dec 17, 2013 11:59am
So my original question still remains unanswered, does anyone here trade profitably without drawing ANYTHING on the chart?
  • #40
  • Dec 17, 2013 10:51pm Dec 17, 2013 10:51pm
Quoting Mnmlst_Trdr
So my original question still remains unanswered, does anyone here trade profitably without drawing ANYTHING on the chart?
I've been trading this way for some time now.

It was a slow process of eliminating more and more from my charts until only price remained.
Money Talks, Bullshit Walks
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