Can anyone recommend a strategy?

Price action can be good strategy for you. This price action can give you good signal. With the candle, you can generate signals anytime. Its success rate is also high. So you can follow this as your trading strategy
 
I believe that the only and useful strategy that you should follow in Forex Trading is that we need to change our strategy from time to time.
 
I believe that the only and useful strategy that you should follow in Forex Trading is that we need to change our strategy from time to time.


Your beliefs are your own affair but this is surely not advice to other traders?
 
I suggest the 'tomtar averaging down methodology', buying low and selling high.

The main problem imo is that the tarder unknowing selects mediocre methods that accommodate their psychological weakness. Its easier to do this than identify and address their own issues, freeing themselves to pursue better methods.
 
Strategy has its own advantages and disadvantages there is nothing like a perfect one. We have to select the best strategy that works well or use it as a trial. When you keep on trading for an extended period of time, you can arrive at the best strategy that helps you earn money.
 
Lets give something useful instead saying something of what people already know. Here is a simple one I call "A Elephant cannot hide its footsteps". No indicators, just pure PA. (The arrow you see has been placed there to highlight this candlestick). Good Luck :)

https://www.mql5.com/en/charts/6222164/eurusd-m15-oanda-division1

Unless they walk on tarmac i spose. :p

Seriously tho, what does this particular 'part history of what price did over 15 minutes bar' supposed to tell us?

eurusd-m15-oanda-division1.png
 
The reference is the arrow and by the fact that it's called elephant is probably in reference to it being a large candle
 
Elephant means large players entering the market. Look at the 2nd bar after the first one labeled, (another larger bar) and another one several bars later. It is evident in this situation scale buying was occurring. "Learn to swim with the Whales" :)
 
Elephant means large players entering the market. Look at the 2nd bar after the first one labeled, (another larger bar) and another one several bars later. It is evident in this situation scale buying was occurring. "Learn to swim with the Whales" :)

for every example you have of large bars giving this price action, i can show as many examples where it is not the case. On its own it doesn't give any edge - just saying
 
Not going to dispute this, thread is labeled "Can anyone recommend a strategy?" Let me add this element, once a trend is started adding to a winning position will help the wins far out pace the losers. Not every trade is a winner and losing trades will occur. Just saying :)
 
You're both right. And you're both wrong. A single hindsight bar/candle doesn't suggest anything, much less prove it. Shift the entire chart to the right so that the bar in question lies on the right edge and you may have something to chew on. Otherwise, not so much.
 
You're both right. And you're both wrong. A single hindsight bar/candle doesn't suggest anything, much less prove it. Shift the entire chart to the right so that the bar in question lies on the right edge and you may have something to chew on. Otherwise, not so much.

Perhaps, but but doing so you are essentially measuring how price reacted to past events which will not repeat in the same context in future. It would be like walking down the street, looking back and seeing 4 ladies wearing pink, 2 guys wearing blue, and 5 red buses and expecting to see the same thing the following day - possible but unlikely.
 
Perhaps, but but doing so you are essentially measuring how price reacted to past events which will not repeat in the same context in future. It would be like walking down the street, looking back and seeing 4 ladies wearing pink, 2 guys wearing blue, and 5 red buses and expecting to see the same thing the following day - possible but unlikely.

Well, again, it's not about predicting the outcome of a particular trade with a hundred percent accuracy but of determining the probability of an outcome based on previous outcomes over a series of trades.

If it helps, substitute "set of behaviors" for "trade". If one could not predict the outcome of a particular set of or series of behaviors with any degree of accuracy, the social sciences would be pretty much up the creek.
 
Well, again, it's not about predicting the outcome of a particular trade with a hundred percent accuracy but of determining the probability of an outcome based on previous outcomes over a series of trades.

If it helps, substitute "set of behaviors" for "trade". If one could not predict the outcome of a particular set of or series of behaviors with any degree of accuracy, the social sciences would be pretty much up the creek.

i know the dynamics behind it but don't like the lack of context in so far that there is zero correlation between price action frameworks and the causes of price changes. The interesting thing is the calculation for probability is

probability = number of successful events / total number of events

What makes it interesting to me is each successful event has zero relationship with the underlying dynamics in which individual events are created and relate to each other in context of price formation. So you end up with a formula where the successful events become coincidentally related in that they give similar outcomes. The problem I have with this approach is the inability to filter out the likelihood of failed outcomes and as a result you end up reducing your potential in the market. For me,I prefer to employ a mechanism where direction has a higher chance of an outcome based on tangible reasons and not probabilities. This is just my opinion based on my experience and is by no means an attack on the process of trading probabilities. It's a function of preference that's all!
 
This is just my opinion based on my experience and is by no means an attack on the process of trading probabilities. It's a function of preference that's all!

As you've said. But unless both sides provide specific examples, the debate becomes circular and ultimately pointless.
 
I wouldn't say it's pointless. Debates have a tendency to spark thought. My intentions are not to convince or argue but rather have an open discussion.
 
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