Does PAST price action determines future price action?

[TraderABC]

Hi all.

Does past price action in any way shape the direction of future price action?

Lets brainstorm, are there any ways to check this? Any ideas? Indicators, etc?
thank you!

[BullMarket]

Originally Posted by TraderABC

Hi all.

Does past price action in any way shape the direction of future price action?

Lets brainstorm, are there any ways to check this? Any ideas? Indicators, etc?
thank you!

I think you already have made up your mind on this.

Just in case you forgot.

Here's your thread where you absolutely insist that markets are random.

Are currency markets random?
http://www.moneytec.com/forums/showthread.php?t=15426


Oh here’s a good one you started.

Most (if not all) Fundamental analysis is a waste. ( Multi-page thread 1 2 3 )
http://www.moneytec.com/forums/showthread.php?t=16539


And let’s not forget

Indicators are overhyped... The truth about them..
http://www.moneytec.com/forums/showthread.php?t=15580


Just to name a few.


So brainstorm? I doubt you really want to brainstorm. You’ve already made up your mind.

-Frank

[TraderABC]

Originally Posted by BullMarket

I think you already have made up your mind on this.

Just in case you forgot.

Here's your thread where you absolutely insist that markets are random.

Are currency markets random?
http://www.moneytec.com/forums/showthread.php?t=15426


Oh here’s a good one you started.

Most (if not all) Fundamental analysis is a waste. ( Multi-page thread 1 2 3 )
http://www.moneytec.com/forums/showthread.php?t=16539


And let’s not forget

Indicators are overhyped... The truth about them..
http://www.moneytec.com/forums/showthread.php?t=15580


Just to name a few.


So brainstorm? I doubt you really want to brainstorm. You’ve already made up your mind.

-Frank

Maybe I was trying to argue from one side (that I hope is incorrect) in order to have a good discussion regarding this issue.

About making up my mind, in this business you can't be sure of anything... So I would like to know more.

[BullMarket]

Fine, I’ll give you the benefit of the about. I take it that your actually want to learn.

Well then get off your ass and trade!, damnit! Use a demo accout, sell a kidney anything just trade!

If you think the markets are random fine.
Test your theory by basing a strategy around that. If it works then you have your answer if it fails then you have your answer.

Stop talking about it and do something. That's the only was you'll learn.

-Frank

[TraderABC]

Originally Posted by BullMarket

Fine, I’ll give you the benefit of the about. I take it that your actually want to learn.

I do, and because of that I ask painful questions which I think matter. I am not a distant observer... it matters to me.

Well then get off your ass and trade!, damnit! Use a demo accout, sell a kidney anything just trade!

I do.

If you think the markets are random fine.

Actually I have a bit different ideas, but I am not sure...

Test your theory by basing a strategy around that. If it works then you have your answer if it fails then you have your answer.
Stop talking about it and do something. That's the only was you'll learn.
-Frank

Just because strategy has worked it doesn't mean that it is based on non-random laws.... After all I could have been lucky.... BTW, in the past while I have gotten super results using an intra day trend following strategy. (On demo still... I know, I know...)

[narafa]

Originally Posted by TraderABC

Hi all.

Does past price action in any way shape the direction of future price action?

Lets brainstorm, are there any ways to check this? Any ideas? Indicators, etc?
thank you!

Do you really believe that past price action can predict or have anything to do with future price action??

I don't think so. Th future is unknown whatever many people will try to convince me that it is predictable.

Every future action just have a certain probability of happening, and another of not happening. That's it. You can never predict future price action from current or historic, or even using whatever indicator. That's my own opinion, and I believe in it very much.

The history does not repeat as many people say, or else, we would have been machines responding with the same actions when we experience the same circumstances. When you double click your mouse over your "My computer" icon, you literally know what will you see in the next 2 seconds, because you have done this before, and based on your historic data, it will happen again, and again. That's true for computers and machines, not human beings.

Thanks,

Nader

[Achip]

Past price action, aren't all support and resistance levels determined off past price action? In determining a pattern in Tech trading aren't we using past price action? Can past price past action determine future price action? I wish, too many variables, everyday is a new day.

Two cents worth
Andy

[narafa]

Originally Posted by Achip

Past price action, aren't all support and resistance levels determined off past price action? In determining a pattern in Tech trading aren't we using past price action? Can past price past action determine future price action? I wish, too many variables, everyday is a new day.

Two cents worth
Andy

Well, ya everything is based on past price action, but nothing is 100 percent true. When a support level is broken, it's broken, so what..The market never stops to respect the broken support level, it just throws it in garbage and leave many traders asking, why the hell is the support broken, it shouldn't. As if it was certain that the market will stop at the support level and turn around.

I recall someone saying that in the late 70s in the commodity futures markets, sugar was trading at 5 cents, people just bought contracts because it can't go any lower. It went to 1 cent and many people went broke. When the pressure over the commodity prices were released, sugar went to $10 as far as I remember, and people sold contracts at that time because they were sure that it can't go any higher. It did.

Nobody can predict the future

Thanks,

Nader