price action trading

[Gandhar.]

Alan watts asked once...... Will you do what your are doing if MONEY is not involved........?

http://m.youtube.com/watch?v=5cZh58IL7RQ&desktop_uri=/watch?v=5cZh58IL7RQ

always until and unless its not boring me

 

[saakk]

hi saak

Thanks for your nice post. I am a new bee in trading and trying to learn price action trading. I have amibroker and live datafeed available with me. Can you guide me(new bee) how to go ahead in the path of price action trade learning.

Will appreciate your valueable suggestions.

once again thanx for your nice post.

Hello sir,
I don't think I am cut too guide any one as I am in learning stage myself, if you are very very very passionate and serious about trading you all make it any ways.... Only advice I can give is to follow just one chart, one TF for next 6 months and read as Much as you can regarding PA..... Go visit price action trading system.com......

Best of luck.....:thumb:

 

[saakk]

"First, financial markets, far from accurately reflecting all the available knowledge, always provide a distorted view of reality. The degree of distortion may vary from time to time. Sometimes it's quite insignificant, at other times it is quite pronounced. When there is a significant divergence between market prices and the underlying reality I speak of far from equilibrium conditions. I have developed a rudimentary theory of bubbles along these lines. Every bubble has two components: an underlying trend that prevails in reality and a misconception relating to that trend. When a positive feedback develops between the trend and the misconception, a boom-bust process is set in motion. The process is liable to be tested by negative feedback along the way, and if it is strong enough to survive these tests, both the trend and the misconception will be reinforced. Eventually, market expectations become so far removed from reality that people are forced to recognize that a misconception is involved. A twilight period ensues during which doubts grow and more and more people lose faith, but the prevailing trend is sustained by inertia. As Chuck Prince, former head of Citigroup, said, 'As long as the music is playing, you've got to get up and dance. We are still dancing.' Eventually a tipping point is reached when the trend is reversed; it then becomes self-reinforcing in the opposite direction. Typically bubbles have an asymmetric shape. The boom is long and slow to start. It accelerates gradually until it flattens out again during the twilight period. The bust is short and steep because it involves the forced liquidation of unsound positions." 'Soros' view on the pattern of bubbles is interesting because it changes the argument from a fundamental view to a technical view. Prices reflect the psychology of the market which can create a feedback loop between the markets and fundamentals. As Soros stated: "Financial markets do not play a purely passive role; they can also affect the so-called fundamentals they are supposed to reflect. These two functions, that financial markets perform, work in opposite directions. In the passive or cognitive function, the fundamentals are supposed to determine market prices. In the active or manipulative function market, prices find ways of influencing the fundamentals. When both functions operate at the same time, they interfere with each other. The supposedly independent variable of one function is the dependent variable of the other, so that neither function has a truly independent variable. As a result, neither market prices nor the underlying reality is fully determined. Both suffer from an element of uncertainty that cannot be quantified."

Taken from zero hedge "soros theory of reflexivity" BOOM BUST cycle.

All the marking in RED is a imprinted version of CHANNELS on charts.

 

[Biswajit Das]

hi saak

Thanks for your nice post. I am a new bee in trading and trying to learn price action trading. I have amibroker and live datafeed available with me. Can you guide me(new bee) how to go ahead in the path of price action trade learning.

Will appreciate your valueable suggestions.

once again thanx for your nice post.

it is nice to see that as a new bee u r trying to learn price action base trading before jump into the market with real money..... price action is a strong utility which will give u much potentiality to live in the market for ur whole life....only u have to practice and observe about the pa system regular basis......I think who is able to secure 70% PA tradings system he has to never look back.... this is my belief ..... always trade with profit and be happy.....:clap::clap:

 

[saakk]

All the TL on my charts are looking like GANN FAN.....

 

[augubhai]

All the TL on my charts are looking like GANN FAN.....

So then, the Gann theory must be true

.... but sadly, i forgot to note the color of my underwear last week .... :rofl:

 

[saakk]

So then, the Gann theory must be true

We are bout to find it out FIRST HAND..... No theories no claims just do it yourself.............

 

[saakk]

 

[augubhai]

Few observations and queries...

1. You have reduced the number of trades, but yet you are not attempting to stay long in the trade and capture the major moves of the day. Why?

2. Do you have a framework/logic to handle gaps like today, before any of today's trends are evident?

3. When you attempt a 1:2 R:R trade on a 3 min set-up for a few points, doesn't cost will reduce the R:R closer to 1:1?

 

[saakk]

Few observations and queri...

1. You have reduced the number of trades, but yet you are not attempting to stay long in the trade and capture the major moves of the day. Why?

2. Do you have a framework/logic to handle gaps like today, before any of today's trends are evident?

3. When you attempt a 1:2 R:R trade on a 3 min set-up for a few points, doesn't cost will reduce the R:R closer to 1:1?

1. I m a one lot trader, just trying to be consistent in my entry and exit once that is master rest of the system can be implemented, there is no point trading too many contracts just cause you have money and leverage. My understanding of PA is decent but not enough to generate consistent profit. Need more experience.....

2. No strategy for gap day...

3. Yes it does but I am just trying to keep the math my side. Purpose is to preserve cap. And gain experience, in 3 trades if 2 trades lost money usually 3rd one help me close the day at BE. Max exposure is 10 points and max reward is 20 points, so max I can loose is 1500 and make 3000.... After 3 trades I exit nest but stay wit market....