LEARN SCALP TRADING WITH PRICE ACTION
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- Опубликовано: 19 окт 2024
- This video highlights one of the best scalping strategies that can be used in day trading. Whether you are trading forex, crypto or indices, this Scalping strategy will work incredibly well. This Scalping Strategy also works on any time frame and can turn into long term position holding.
Price action describes the characteristics of a security’s price movements. This movement is quite often analyzed with respect to price changes in the recent past. In simple terms, price action is a trading technique that allows a trader to read the market and make subjective trading decisions based on the recent and actual price movements, rather than relying solely on technical indicators.
The only people who know where the market is heading are institutions. They are the ones who make the market move and our job as a retail traders is to follow their footsteps and get the piece of their movement. As a price action trader you need to find the most profitable ways to enter trades. The highest probability setups are 2nd entries at the key entry points.
2000 tick chart
S&P 500 ES Futures
21 bar EMA
Date December 30 2022
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Didn’t take any trades today. Good news is I didn’t lose today
This is excellent to be able to see the big pic of how potential reversal can happen and scalping opportunities within the big picture. Thank you so much for posting this!
This is one of the best explanations yet. The key concept for me is what to do after the break, especially if you have conflicting directions. The dominant pattern takes precedence makes sense.
I found your channel yesterday and it has helped me a lot to clarify things. As soon as the mrk opened today I tested a few of your strategies today and they worked, I didn't enter at the right time and was burned initially, I didn't sell and fortunately later it recovered and made some money but later started doing an error analysis to get better at this, but this is gold, keep it up!!
This way it can be understood in any language and I am very happy. I know it's hard work, but it's worth it.
Mr. Wade. I always look forward to your analysis. My goal for 2023 is to become a more patient trader like you and focusing more on when NOT to trade. I had a tough trading day today. I think I’ll be joining your academy for 2023. Thank you, have a happy new year.
I've been investing in the financial markets for some time now and overall I have made tons of profits, indeed when you get to understand its concept, the time and effort are worth it especially now that my portfolio's even bigger.
There's no doubting the lucrativeness of the markets, but a higher percentage of traders still lose rather than get wins cause of its highly complex nature.
That's amazing!.
Have you got any pointers for an intending trader that could help with profitable trades ? @Barb. I’d appreciate!
Well, without being knowledgeable, you are at risk of having your entire account being wiped clean. I believe the technical and intricate nature of the trade market necessitates the use of guided investments in addition to trainer videos, if not anything but to avoid unforeseen mistakes that leads to much loss on trade capital.
I am up about 6000% this year, following signals from Kevin S Mikan’ he’s a seasoned trader and a well accredited one. He and his team manage my investments in the market, while I consistently accumulate gains. On the plus side, his system affords me the most expensive things in the world, which are time and peace of mind. Good man!
@@barbborstein7640
I agree with you! ,
But question ought to be how can you trust him?
Thank you Thomas. I really am grateful for your help. Have a Happy New Year.
Amazing
Thanks Thomas!! Happy New Year!
Well done Thomas!
nice!
Thankyou thomas ji, a lot of learningin your YT. THANKS
Great review Sir Thomas.
Thank you sir. From India.
Thank you Thomas
Appreciate your chart analysis's
I look forward to more i the new year.
Happy new year buddy
Cheerz
Thank you ! 🤝
Thanks again Thomas. Very clear and concise. Really appreciate the time and effort you go through to make these. Happy new year.
Awesome video, Thomas, thank you for sharing this. How do you determíne wheter we need a new extreme or if no new extreme is needed?
You always expect new extreme. If you are reffering to the uptrend that did not create new high it is because downtrend is bigger pattern, took precedence and there was strong push below EMA. So it is possible that smaller counter trends may not get new extreme every time.
Hi Thomas, did you manage to enter any of the trades? It seemed slow today that made me hesitate and doubt the set ups so stayed out.I need to work on the Psychology part.
Thanks for video, very helpful as usual.
I did. Two F2EL.
thanks
Happy new Mr Wade. I kindly would like to know if price action and trendline rules can work on higher time frame, daily and weekly?
For sure, daily and weekly are great.
@@ThomasWade thank you Mr Wade I really appreciate and grateful for your good work that you're doing. Thank you sir.
Sir, can you please tell about the candle timings ? You are using during this analysis…?
I use 2000 tick chart, similar to one minute chart.
I'm curious what your R/R is when you place the trades. What is acceptable to you?
Slightly more risk than reward. Which is typical for a scalper because it is much easier to predict small move in the market.
Ideally I would like 1:1 But I am happy with smaller TP. I use runners to catch major moves. I go for 8-10 ticks.
Lovely video. Pls what's the time frame for ur analysis pls?
2000 tick chart.
@@ThomasWade 2000 tick chart is it same thing as 2hours time frame?
How can you take the f2el at around 4:31? Don’t corrections usually play out with 2 legged moves? So wouldn’t you expect prices to still continue up and make a new extreme countertrend before the larger pattern takes precedent?
Downtrend needed new low and EMA held strongly followed by very strong bearish bar. There were two legs, two attempts by the bulls to reverse the market but the trend was down. No need to wait for another leg up since it was F2EL.
What is your tick chart broker or recomendation? Because I found only timeframes charts brokerages...
I use Ninjatrader. There are lot of other brokers who offer tick charts. AMP Futures for example.
Please what is your EMA set up.?
Thanks
21 bar EMA.
Do I set the trend lines at the ends of the wick or at the end of candles' bodies?
Generally you start drawing from the tail of the first swing and trying to connect the BODY of other swings. That is generally how it goes. Bodies are more reliable generally.
@@ThomasWade got it thanks a lot love your videos
For scalping, which is best time frame in this strategy ?
I use 2000 tick cart. From 1-5 minute are good as well.
This is absolutely powerful strategy for scalping. May I know, the name of your broker platform for Tick Chart trading. How about for XAU Tick Chart? Great clip! More power. Cheers!
I use Ninjatrader.
Please put English subtitles on the videos. Thankful
You know RUclips has a cc button on top
Sir What about the time frame you are trading?
2000 tick chart, similar to 1 minute.
@@ThomasWade Thank you so much Sir
at 5:48 did u mean higher low ?
I meant LH.
👍
We need to time frames
It is in the description of each video. 2000 tick chart.
Your candle is how many minutes?
2000 tick chart. Can be similar to one minute chart.
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Se tivesse uma legenda em português
Is this the one minute chart?
I trade 2000 tick chart.
Please bro please talk slowly and ARTICULATE well, very hard to understand you and capture the idea even after 3 times play-back.
There is a setting button under every video. You can adjust playback speed and slow it down a bit.
It’s scalping. Get used to fast paced everything or fall behind.