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YTC Price Action Trader (www.ytcpriceactiontrader.com)

  #22 (permalink)

Elite Member
Buckeye Nation
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Amp/CQG, TOS
Favorite Futures: CL, 6E, YM and ES
 
Posts: 200 since Jul 2010
Thanks: 146 given, 234 received


Zwaen View Post
Hello Kulu,

after watching several video's of Seiden I also noted the odd enhancers. But in some videos he tells about 6 and in another video he tells he uses 11 variables to gauge the possible succes or failure of the setup. Offcourse he cannot tell everything because his courses would be useless and the people paid for it will be angry.
Which do you use? Or do you use a few in combination with common sense? Are'nt you afraid you use information which is possible not complete for this reason?

Zwaen,

I think what Sam shares in his videos is plenty good. Like everything else posted on this forum and anywhere else, you gotta take the concept and apply it to the market the way to suite your trading style. I understand that when Sam has on his videos is not the whole story. I don't even know how many odd enhancers he has in total. And besides, supply/demand zones are different for each trader. For me, I have to see a strong move off a level, and have a good profit margin. If I don't have those two things, then I don't even look at a congestion area.

Like everything in this business (and in life) there are no shortcuts, you gotta put in the hours and screen time. You have to practice until you find what your definition of supply/demand level is for you. Also, I like the "drop-base-rally" for my demand levels, and "rally-base-drop" for my supply levels with at least a 1:2 R2R ratio. It's taken me a while to get it and I am still learning.

Every week Online Trading Academy has "Lesson From The Pros" Those articles are really good as well. Some of the things I also look at are the following:

  • Retracements: First retracement to a level is highest probability
  • Arrival: We want to see a strong move into the level i.e no consolidation just before a level.
  • Time at level: In line with the strength odds enhancer. When price is most out of balance the price will spend the least amount of time there, so the fewer candles the better.
  • Levels on Levels, for these I like to watch price to see if it trade to the lower/higher level before taking the trade. Take a look at the 60M chart of the TF or YM from 08/31/2011 to see what I mean.
I think the most important thing is to practice this and apply your own rules around the basic idea that Sam presents and see how it work for you. Practice it for the rest of the year and see what kind of results you get. You will be amazed at how accurate some of these levels are. And if you get the right level, price will just be rejected from it. I use some Price action bars as well with this method and they compliment each other very well (inside bars, engulfing bars, pin bars, island reversals, key pivot reversal, etc). But again, these formation have to be at a supply/demand level for me to take them.

I hope this helps. This is the way I use this information, and some people might be using it differently. I think Lance Beggs information is great, but I don't have his book yet. I have seen his free stuff (I like his trapped traders formations)

Kulu

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