Price Action Trading

[eyeball]

Occasionally one of the financial news channels will provide a camera shot of an active trading floor. What we see is as important as what we do not see. We see: active traders watching prices and gesticulating strenuously to place orders and complete trades for their respective customers as well as for themselves. What we do not see: Traders checking their charts to see if their indicators have signaled an entry point to make a trade or to exit one.There is not enough time for chart work , and even if there was, active floor traders understand the interactive nature of the market and react accordingly. My point is this-If the professional floor traders need nothing more than price action to make trades and make money than neither do we .

 

[Enivid]

It is a myth that floor traders do not use indicators. You can read Cultures of Expertise in Global Currency Markets by Leon Wansleben to see how Forex trading floors are functioning in two major German banks.

 

[Easy Trader]

They look at indicators in the pits, but I believe it's to have an idea where the easy money is placing its orders. A floor trader that has managed to survive and have a career in the trading pit is reading tape and order flow, Im sure they know where their pivots/fibs/MA's etc. are but I highly doubt they need them or aggressively use them to trade profitably. Truth is the pits are dying out and the algorithm is killing them.

 

[HelenStclair]

The trading deals in Price action which shows the market of Forex its up and down...

 

[savenko]

Occasionally one of the financial news channels will provide a camera shot of an active trading floor. What we see is as important as what we do not see. We see: active traders watching prices and gesticulating strenuously to place orders and complete trades for their respective customers as well as for themselves. What we do not see: Traders checking their charts to see if their indicators have signaled an entry point to make a trade or to exit one.There is not enough time for chart work , and even if there was, active floor traders understand the interactive nature of the market and react accordingly. My point is this-If the professional floor traders need nothing more than price action to make trades and make money than neither do we .

Well, watch what's going on in the room is good, but we have the ability to view the same graphics across platforms.

 

[Rambo35]

Should you use a price action or which ever other strategy is your personal thing. What ever works the best for any trader, that's what he or she should stick to it.

 

[gpcode]

Al brooks is one of many who discuss this style, with a minimum of indicators like a 20 MA and some trend lines, but if he can do it for 27+ years, it seems to be working...

 

[Cholipop]

I would agree

Hello all,
I trade solely using price action, and I would have to say that doing so is utterly interesting. The reason for the aforementioned interest is due to the fact that it is the only constant factor in the market. We always see the same patterns, which almost always have the same results. The market boils down to engulfing of candles, and what has happened prior in reality has no bearing on what will occur in the future.
Social trading has created big time bias, which inturn will result in massive losses, as people use terms like OVERBOUGHT, OVERSOLD, STOP HUNT, ETC which are used by traders who simply don´t want to cut their losses.
I am looking forward to sharing what I have learned in the near future in hopes of having everyone see the light. Have a wonderful day/evening where ever you may be and remember that Price action is key!

 

[eyeball]

What are you Rahman ,some kind of a joke, or do you copy erroneously for funsies ?? I know it must be difficult for you, but try not to act stupidly in a public and serious forum like this.

 

[Cholipop]

One of the biggest misconceptions about forex is that PRICE ACTION has to do with the price moving up and down. Most would believe so due to the fact that while watching a chart the price moves up and down, but the reality is price action is much bigger then that.
As a scalper, price action has to do with a set of candles being engulfed, and what happens right after. Although picking those candles would be objective, the reality is enough charting will reveal that their are specific candles which start breakouts and cause reversals.
Many traders try to catch what would be the top and bottom, but the reality is doing so is just as accurate as picking heads or tails. Many traders fail to understand that reverses occur due to engulf of certain candles following certain patterns. Identifying those patterns will cause massive pip accumulation.

 

[pinbargirl]

Occasionally one of the financial news channels will provide a camera shot of an active trading floor. What we see is as important as what we do not see. We see: active traders watching prices and gesticulating strenuously to place orders and complete trades for their respective customers as well as for themselves. What we do not see: Traders checking their charts to see if their indicators have signaled an entry point to make a trade or to exit one.There is not enough time for chart work , and even if there was, active floor traders understand the interactive nature of the market and react accordingly. My point is this-If the professional floor traders need nothing more than price action to make trades and make money than neither do we .

I agree 100% with you
Naked Price Trading is best

 

[Ary Barroso]

I agree 100% with you
Naked Price Trading is best

Same opinion from me; basically the beauty of Price action trading is; here we can make dealing with almost all kinds of trading pairs including the crypto pairs.