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In a recent survey about webinars, a lot of members expressed interest in learning more about the elusive "price action" that many traders talk about and refer to.
It is my intent with this thread to try and document price action from my point …
The part that you quoted just shows that the OP doesn't have much experience. I think we've all been there. And like the OP, most of us probably refused to listen to our "elders" that were screaming at us that what we were doing made zero sense.
You can tell your kid 1000x times not to touch the hot oven. But they still must do it at least once before they get burned, and learn to not do that again.
Traders who say that their method moves faster than price action... lol... I have no comment.
And now he has stopped posting, presumably to go open his hedge fund with this new holy grail method. Look, in all honesty, I am really trying to not be mean or rude. So I say this in jest. And here is some helpful advice: there is nothing so magical that you created as a discretionary trader that you cannot share it. So his post to close his thread just proves that this is someone only at the very, very beginning of his cycle in the world of trading.
Like I said, we've all been there. So we can try to get him to "see the light", trying to get him to avoid repeating the mistakes we've made, but he is unlikely to listen. Still, at least we try.
I don't need this directed at me either...I only have CD on a couple charts, the others have nothing.....we are on the same page. That's why I said you are making assumptions. Just because I make a post in a thread doesn't mean anything. Feel free to lecture the public but don't direct it at me
Kbit
I believe r3 was just trying to point out something the OP said and get us to comment on it. I thought he was aiming at me, but I think it was just a misunderstanding.
I understand how you feel. I was a price action trader 3 months ago.
Then I combined it with this.
I realized that the signal always come with price action after the signal was produced.
I also realized that this indicator helps to remove any short term price action signal
Soon after, I removed price action from my system.
Last time, I waited for price action confirmation when a signal a produced,
Now, I just place buy/stop limit orders and just let it go without waiting for PA.
Hey man no worries, i think my post may have come across as a bit harsh, I am following along in this thread and look forward to continued journaling even if you won't be posting the system man!
Here's something you can do, Dl the multiwave-W indicator.
Attach to an mt4 chart, EUR/USD for example Backtest it.
Press F12 to move foward 1 bar
Look for the SITG pattern,
observe how it comes before price action.