A Huge Discovery About Price Action for ALL Strategies and Traders
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- Опубликовано: 24 фев 2023
- Something about price action I've never seen anyone talk about.
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Risk disclosure: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. Information in the video and the video's description is accurate as of the date of the video's release, but it's not guaranteed to be accurate after that.
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My bad, did not mean for this to sound like a promotion for super-scalping lol (mandatory reminder that I don't sell anything and never will). No approach is inherently superior, and mine certainly is NOT for everyone. The main point of this video is understanding the implications of an approach being limited to 50%-80% of all trading days. You would either have to do nothing on days where conditions don't even allow your system to perform well, or/and your performance on days that do align with your system would have to be so incredible that it offsets the almost guaranteed losses on "bad price action" days. Those days are different for everyone, and this FACT about trading will affect everyone differently based on how discretionary vs systematic your approach is.
Super-scalping isn't some magical holy crap it works every-day every-time every-second nothing-can-go-wrong system! I was just using it as an example of an approach to price action that works more often than most systems (because it's mostly about smaller moves, and the approach is based on trading either consolidation or directional moves). A great trend-trader should always outperform a super-scalper on a big trend day, so that's what I mean about nothing being inferior or superior. I just want you to understand the implications of the point I brought up. We all eventually find what works for us, and I'm too much of a gambler at heart to be someone who goes for big trades. Super-scalping is best for me in the same way that big trades are best for you - we can appreciate the advantages and disadvantages of all approaches without it being anything other than the exploration of different ideas.
Anyways, I'm now funded for my trading style, and maybe I'll lose the account and have to pass the evaluation again. I'm not consistently profitable yet, but I'm making good progress. If you want to get funded for futures trading like me, I'm ONLY partnered with TradeDay because they have the best evaluation accounts in the entire industry - members.tradeday.com/?aff=iman and get 20% off all evaluations using code: ImanTrading20
@Recraw7 15 points per day on 10 NQ contracts at $3,000 doesn’t feel like pennies to me, but to each their own.
You keep hitting those 100 pointers and I’ll keep doing my thing 👍
@@Recraw7 Show us the pnl
Whose scalping clip you bought ?
@@XAU_Goblin ? That’s me
@@ImanTrading Just one live trading session is all I ask from all youtubers making fx contents.
Iman - I stumbled on your work several months ago. Been trading for 2 years and still wasnt profitable. Ive been super scalping for the last few weeks and having the most success ive had since i started. One thing ive been doing is leveraging the 30 sec chart and 9/20 ema crosses. Simply buying the pullback to the 9 after the cross on that short of a time frame. Backtest it and let me know what you think. Im trying not to be bias, but so far its been working really well. I know its a little different than your method, but it all started from watching your content. Thank you so much man, and thank you for being the realest trader out there.
That makes me very happy to hear. We all execute the strategy different, and I love that you’ve got a variation that works for you :). Thank you.
Show me your strategy
Is that strategy still profitable for you bro?
Realest traderrrrr ???!!! Huh ummmm
@@tlffansomeone must have pissed in your Cheerios
I appreciate that all titles on this channel are genuine. There's no clicking and hoping it's not clickbait or a title for "the youtube algorithm".
You are the seed that will bring balance to the force....
I just want to say thank you for your honesty. I've been on my trading journey for a few weeks now and have been tricked by a lot of youtubers. I'm focusing on the basics now that have been tried and proven instead of chasing the new trends or outright lies.
What are the tried and proven basics, I too am learning and I'm lost in the sea of information in which like 99 percent of it is bad
double bottoms and head and shoulders@@halosas9854
Price action only!@@halosas9854
@@halosas9854your basic support resistance trend line supply demand market structure. Add into that your risk and money management you're good to go. No bs needed
Excellent video. When I started out, I realized that I needed to be able to trade in all market conditions to be optimally successful. So, one of the simplest trading strategies is range trading the ES. It’s fairly easy to spot the range early on and buy the bottoms and sell the tops for a $1.00 scalp. Again, great video!
I traded this way for years without issue. Found "smart money concepts" and lost my ass for a year. Went back to my small scalping method that nobody talks about. I'd rather make money than chase RR. Pretty simple really.
@@timchurch2390 I scalp 1:1 with smart money concepts, i realised the lower I set my targets the easier it was
Lots of factors that people probably don't consider when creating or implementing a trading strategy the volatility of the market is constantly changing and even changes throughout the day. The cool thing about the market is there is always going to be an asset that's trending or that will work for a strategy.
I definitely think about this all the time. I've only recently found consistent success with a discretionary day trading style in any market conditions, but I think a lot about how it may perform as the market personality changes in the future and over the long term. Time will tell I guess, but I feel confident that I can adapt, so there's that I suppose.
There are definitely ways to tell early on whether trend or balance is more likely. Wide range with significant retracements, sectors like XLF XLK XLV moving in different directions with different relative strength, internals, multiple passes over the open, etc. Have a playbook for trend and a playbook for balance and there you go.
@@jambear7862🤣🤣💔
I like your thinking on Price Action and the realities of swing vs scalp trading. For me, I think of scalping vs swinging subjectively as well - it all depends on what timeframe you are trading. Ive talked with alot of Discord group traders from a so called "master-class" group that maintain that the only real trading is based off the Monthly/Weekly/Daily charts- ya know, the big boys. They maintain they are all swing traders - but when you "scalp in and out" of a single daily candle, then you are a scalper. Likewise, if you are trading off the monthly chart, and you enter a trade May 1st, and exit May 31st - then you just scalped...Thats not a swing. However, if you manage to hold a trade through 10-20 bars on the 30 second chart, and you hold through several higher lows, in an uptrend, then you just held through a swing...semantics right? I find I do my best trading when I wait for a break out of an opening range, and then scalp out 5-10 points (trading micro E-mini's). I really do well, when I then say - great! Thats it for me, and im done. However, I am still still developing my skill at reacting to price action. I think one of the keys is trading small enough where you are having fun. Like you say, make it a video game.
This is an incredibly important video absolutely all beginners should watch
Good stuff mate. I always enjoy your vids.
I'm new to this, but can you set it up to do buy and sell for each increment/decrement of price? When the price changes, two actions happen. 1. It sells/buys the shares from the previous price. 2. It decides to buy/sell for this price based on the previous price. If the previous price was lower=buy and higher=sell.
Your super-scalping strategy has three incredibly important elements which losing traders could benefit from enormously. The seemingly simple task of having a close stop-loss on each and every trade is so valuable in learning to accept losses. An essential for serious trader training. Secondly, managing the trade to see just how much reward the market is willing to give you or not (moving the stop to b/e only to be stopped out). And finally, the 9.45 am EST time of day is very much suited to strong runs in one direction or the other.
Linda Bradford Raschke (from the book Street Smarts) offered advice was tight range-bound days often led to a trending market day next.
Is Linda a scammer?
@@thelowprofile9767 Why did you ask that?
How did your trades go Friday? Thanks for the video!
4:20 is literally the best thing I’ve ever heard on RUclips. Period.
I think that your delivery style is your RUclips edge! Keep up the good work
Big Up yourself! Subscribed and looking forwar to more content!
That "ha ha, even that ha ha was script" actually made me laugh 🤣
Holly! Thanks bro . I was trying quite a bit same style like yours. But I keep failing. Now thanks to you I get it . ATR is the answer ! .
Dig your videos brother ❤ Would love to see one with some detail on your super scalping process - broker set up etc... All the details. Super interesting man! Thanks again for your rad content.
Thank you! All the info is in the description and it will take you to my website. I do need to make a couple more videos going over more stuff though.
@@ImanTrading by "my website" do you mean your Patreon?
No, I mean my website: www.imantrading.org/howimantrades
Lolololol, great videos man. Keep it up! Just a heads up, just by briefly watching you trend trade/scalp----I can tell you're alrdy profitable as long ya keep your psyche intact during drawdowns to prevent a bust day.
That being said, saying "No one knows" is partially true but it's also a self-limiting belief to where you can next take your trading.
Spruce up your trading by taking a probability theory or statistics course to get more granular in your analysis. Also, volume volume volume. The candlesticks tells us WHAT is the market doing, the volume tells us HOW.
I don't "Know" what the market will be doing but I have a high % chance because I'll plot at least 3 or more probable scenarios before the open (You can do way more if needed but I recommend at least 3, diminishing returns does affect your effort here).
P(A) + P(B) + P(C) + unknown = All possible events in my sample set.
Event A = Bull
Event B = Bear
Event C = Kangaroo (almost everyone forget this guy)
Then have a gameplan for the event you forecast.
Last thing. There's more than one way to skin a cat. My "Simpler" method and recommendation to trading is to have both a trend and rangebound system. The key is learning to recognize the market transitioning between behaviors. YOU have a behavioral background experience. Dive deeper and spot the signals to those transitions I'm talking about. Hmu on LinkedIn if ya got questions.
Great vids and amazing trading!
I started making money when I was unbiased and started buying calls and puts in the same day. I didn't care as much about my bias and just went with the trend or pattern that was present. Currently I don't have a set strategy I'm just making my decisions based on what is happening in that moment. Pretty nice. If ur only buy calls or only buying outs ur gonna lose eventually especially if u don't have stop losses set
I love this video , really really great insights .
1:02 *ICT has entered the chat*
I love you mate.. best channel out there (and quite funny most of the times)
That's ma boy can't imagine how happy i become when ever i see a video of yours.
Wow thank you 🥲
What about the commisions? With lifetime suscription ninja trader charge you like 0.91$ (i think) per contract. This would not damage performance a lot?
Gawd I love your channel (great voice too bro) this vid makes so much sense
Excellent video. 🙏
Thanks for the insight! Found one guy who teaches folks to catch small movements .... and it appears as though he and his students do well - consistently and without a lot of inner stress. He and his people wait for the setup - take the trade .... and work up to trading so many contracts that the little moves yield nice profits. What I call "jackpot trading" doesn't appeal to me - even if the numbers can work (= lots of trades - few wins - but BIG wins). I like consistency way better.
Hey! Can you please mention who’s this guy? If you don’t mind. I’m looking for a system like that.
Hi what broker do you use for this trading? I have the same style and I’m using trading view. So I have to type my order all the time
Imo you're def able to predict what typ of price action the market is going to be. Trend range whatever. Look at past price action to detect volume wells. Look at cycles and distance. What distance the market traveled within that cycle and after what distance it tends to breakout or range. Hope that was somewhat helpfull
dang started trading a couple years ago in 8th now a sohpmore kinda developed a scalping start like this with mulptle entrys and exits wither very thight sl and bs
Great vid as usual! The whole RR and WR subject is a huge one and everyone has to find their own sweet spot for their style of trading. Unfortunately, I think a lot of people don't really know the simple mechanics and relationship between RR and WR and how they directly affect each other. Might be a great video to make😉(you can outline the most popular RR ratios and what BE WR would be needed. I have some useful calculation tools and spreadsheets if you're interested.)
A bit of feedback if you're interested; reduce the long texts during your voice-over because it's very distracting, I found myself pausing multiple times to read just to realize you said it slightly differently. A slide for each point you're talking about might be better.
The live trading and drawings were great!
I really like that video idea, that would be great if you could get that done Iman! Also, I like that he shows the text and also says it slightly differently. It allows me to pause and read it, and then hear him say it again differently that way I can really absorb all the information, everyone learns differently though :)
i think what this video is just trying to tell us is that, create a habit/system that specifically tailored to your own personality and how you trade everyday that when the time comes that this system is riped, your bad days in trading will never be something that you have to think about. or they won't bother you, no matter how bad or worse they are to some.
Bearish bullish…volatility…what is trend? Are you better during downtrend? Or catching a bounce? Or following momentum?..
The way I like to think of any type of trading especially intraday is this
You have to take it day by day and the days that are profitable make them really profitable obviously you'll see a daily candle that's pretty long where there are a lot of money to be made MOST of the time
Then you'll have days where you'll either break even or you'll lose a little but you won't give back everything you made on your winning days
That's about as best as you can do Make sure that you're average losses are much smaller than your average wins so you can sustain yourself and just take it day by day
Is super scalping ODTE contracts in the money
this is excellent video. I've been having issue recently and I notice this is the exact problem I encounter (and I think learning to scalp for me is the way to go)
great video 😻
Your super scalping strategy reminds me a bit of Fat Cat’s system. He works off the DOM though.
Maybe i missed something, but variable market conditions are hedged by the notion that there are many markets, meaning that there is enough variety in markets, to ensure variable conditions, to guarantee that even extraordinarily restrictive strategies will have a condition in which it will work at any given time.
I’m fairly new to trading and still learning a lot, but is your advice limited to futures, or can it be applied to stock/options as well?
Thank you
Do u still hold this idea valid or have u reconsidered? I have once been here but now work with LLLLL 7x(size) W , its more of a casino approach, is swinging and best on trends.
Its fine having a system that works sometimes as long as you know when - just don’t trade when you know your system won’t work that day
Hey man, I'm from Brazil. Just found your channel and I'm enjoying it. You seem to be smart and makes a lot of sense. Have you ever studied about Al Brooks Price Action? I'm reading his books and he also seems to be a smart guy and make a lot of sense. Of course that there is no way to prove many things he says about price action, but think about it, someone that has been watching almost every tick in the market for 30 years must have something that can help us to achieve consistency, does that make sense? I don't know, maybe not. Maybe you can make a video about it sometime if you want, or don't, whatever. Peace 😁
Thank you! I haven’t studied anything by him, because I wanted to learn trading through my own experimentation with no outside influence. I probably won’t make a video on something like that anytime soon, but perhaps someday.
1. The super scalping seems like a smart approach. I've done it successfully a few times and don't know why I didn't try to just develop it as a method. Maybe I will revisit. Still trying to identify my own edge. Really great point about trending vs. chop market environments.
2. Every single youtuber or other person selling courses or indicators or strategies or whatever bullshit is selling them b/c they can't actually make any money trading. Think about that (not you sir Iman Trading but anyone else reading this comment). If someone had a "secret indicator" or "98% win rate strategy" blah blah blah... they wouldn't be selling it. They would be trading it, and making a shit ton of money. If someone is selling you a trading strat or indicator... that's almost a guarantee that it will not actually work.
I believe that some of the course sellers are actually trying to help. Think about it, anyone can learn anything on their own, but it would be way more difficult to evolve if we had to be constantly making the wheel from scratch, isn't that right? I think that there are basically two problems:
1) Teachers who are teaching something they don't even do (trading).
2) Students who blindly believe everything they hear and don't even think about it.
Now if you have someone that actually trades selling a course, It's fine, as long as the student question everything, backtest and use it as a tool to facilitate the process of learning. That's just an opinion, I can be wrong.
Loren, you seem to think that making money is the only desire every single person on the planet can have. If you spend a few minutes learning about fundamental psychological human needs, you might get more ideas. Here's one of those needs: the need to feel smart, important, unique, valuable.
Can you do a live trading session? That would be so nice =)
What platform are you using? Are you in the Us? I mainly trade stocks and stumbled on this..
NinjaTrader, and yes, US
dude this is GOLD!
I've realized why I am having trouble understanding your speech and have to rewind often. It's that you are *reading* a script when recording your videos instead of speaking freely. There aren't enough pauses for me to digest your speech well.
Turn your video speed to slower speed
Good stuff. Thank you.
I go the high WR 1:1 or less RR and have been doing very good lmao I personally think its personality based.
Hi Iman, what is the name of the software you used in this video? Can it be used for back testing or what you did there is a live trade?
What do you think about jason graystone?
scalpers are the way to go!
Love this …
Add to your winners instead of taking half off… this is what gives me the difference
do you use the super dom?
So glad I found your channel
Would you say you’re consistently profitable?
I'm surprised it took you so long to realize this. When trend following, your winnrate will be lower. So you need those solid trend trades to run as long as possible when they do run to cover all the chop trades. And you need to take all the trades because you never know which one will run. To smooth your ride, just add reversion to the mean trades in there. They have a higher winrate, and are out quicker. Have a combo of those to styles running simultaneously and your p/l will be trending up into the right.
That's correct. Nice ❤
Great video! At the end of the video it sound like you need to work on your "wrist management"😂 I'll go home now
Excellent
I'm a new subscriber I love your videos🔥❤️
Sorry, I only trade Forex on XM, so how are you trading without spread?
There is a trader who has backtested every type of setup for the last few hundred years and he knows which ones only work on a Friday - sort of.
Hi @ImanTrading, may I ask what exactly is price action? I've been trying to trade for almost a year and currently is not profitable, and I feel very lost. Feels like I dont even understand what price action mean..
One more time thank you and good luck.
Happy New Year😃😄🎄❄☃
30sec version of this vid: "yo dawg, y'know how when you go 100x longtothamoon you think about your reward? Well, also you should think about your risk too, dawg".
Excellent video
I notice i lose alot in ranges please give advice
I tend to determine when I'm going to sit out likely choppy PA based on whether sentiment is divided or there's a lack of interest relative to before. Across timeframes. Try it out.
In choppy conditions everyone and there mum is trying to get in for the move out of the chopp. On both sides. It's only when the market stops anticipating a breakout, there'll be one
@killexpert ,any chance of posting how you sit out a choppy market?
@@nozzer2002 divided sentiment. Markets expecting a breakout to both sides of the market place. OR, no liquidity, no interest in the market due to something FOMC incoming, Asia session, or just generally unattractive position on the HTF, like in the middle of a range
@@killexpert5095 thank you :-] ill give it a go
@@nozzer2002 how long have you been trading?
You can only predict what's likely to happen on very short time horizons or on the very long run -- everything else is guessing/probabilities/hopium.
This was my concern with the method I was currently learning, what if I don’t get enough setups and also those setups are also not guaranteed to be profitable
5:13 so you mean almost every trader, it just shows you how everyone in the community is just a chicken or a cat or whatever, they basically more or less follow each other. I never buy the "I have been trading for 7 years bro and im so profitable" BS when they do the same shit, again and again.
"Look i told you price is going up see", - eventually hits SL, then the guy goes quiet. Sick of these signal services lol "trading for 7 years bro i know what im doing" (uses basic Price action which doesnt work, and still tries to show as if it worked)
I remember finding that one signal service which always aimed for a very small amount of movement, and used big SL's. (so the Risk to reward was 4:1 or something, 4 risk for 1 reward)
everyone: bro that sucks ass you will blow up your whole account.
reality: it worked out to be amazing
What platform do you use to trade?
NinjaTrader
i think nobody is talking about this is because it's a given...yes, you have to have a strategy that wins sufficiently often, & at sufficient magnitude, to more than offset the occasions that you get stopped out...
philosophical, love it
Hey were you in a trading psychology talk by Dr Steenbarger? Just watched a talk from him and i thought i heard your voice 😂
Thank you IMAN
Let me think about what you said
Very common day trading strategy, 2:1 stops, sell @ 2X your stop loss, even a 7 of 10 loss ratio yields a small gain.
This is some of the greatest advice a trader can give. This improved my winning rate after a experienced trader explained that his edge happens in the market no matter what, once he said that i begin to critically think. (Market cycles happen no matter what)🧠🧠🧠Tops and Bottoms... Research market cycles psychology
I completely agree with you
Once you master scalping and you master swing trading.
You combine the two techniques.
You swing trade but enter with very high lot sizes and hold.
So your entry is scalping but you hold like a swing trader.
Is it hard? Extremely. Is it satisfying? Unbelievably so.
Imagine 20 lots while bagging 100 pips.
Yeah.
I started swing trading for many many years, it's only last year I started scalping (5 min TF).
Now, I am trying to combine the two.
It's like nightmare mode. LoL.
Do you ever fear that you are over trading? Noticed in this video you enter a trade ever 5 min.
I guess I'm dumb because I don't understand why people consider day trading riskier than swing trading. Having capital exposed to market manipulation and macro-level events (war, reports, regulation, et al) for days or overnight seems to be at a higher risk than exposure for minutes or hours. Hmm... Probably doesn't matter as it is a personal style of how you interpret price.
It does not matter, price action don’t matter, nothing matters, you will still lose no matter what, focus on risk management and a simple system
Iman really good when it comes to content delivery, the videos are fun and also very educative but we should also agree that he is a little bit crazy 🤣🤣
after 2 years of breathing and eating this sht full time from morning to night i came to the same conclusion about trading in general as you have, bravo..
The strategy I learned to trade on works so poorly in trending condition it starts working in the opposite direction. Learned that the hard way… I guess that’s why they say the trend is your friend. New traders if you’re going to pick a strategy to build discretion around I recommend a trend following strategy 😂
I love you mate. You are as smart as me😅❤
I swing using RSI….works for me. Cheers 🎉
scalping is king steady small win
Bro look after Indian markets! Settlement is gonna be same day for all the segments currently it's T+1, few brokers o do offer it same day well
I wish I knew how to spot a choppy day before it happens
Anticipate choppiness after a large move, before or on a significant news event, choppiness on the DXY.
Commenting on all your videos to help push them up. Need more honest to the point youtubers learning and sharing their findings
Why do I feel like you and Al Brooks would be good friends