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YTC Price Action Trader (

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PTA, Gauteng
Trading Experience: Advanced
Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
DarkPoolTrading's Avatar
Posts: 1,036 since May 2012
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Adamus View Post
I read your journal last year - I wondered why you stopped. You have a great way of analysing your progress, it was interesting to see how you approached it. Quite methodical, in the same way that YTC PAT is too, I thought.

Did you move on to something similar also based on S/R, PA and traps, or did you go more technical?

@YertleTurtle I also use YTC PAT methods - not the scalper methods. I am not currently trading live, i.e. my last attempt was not profitable. That though was less to do with the method and more to do with my decision-making process.

Hi Adamus,

What I found after a year of trading full time is that perhaps my biggest psychological challenge is my risk averse nature (when it comes to trading), along with my need to wait for too much confirmation before acting. Over trading seems to be the biggest problem for most people based on my observations,...however im the complete opposite in that I will come up with every excuse possible to not take a trade if it doesn't look perfect.

In a nutshell my prior trading with YTC involved identifying important levels and market structure pre-market, but then trading the developing intra-day structure as it developed. Essentially looking for double tops/bottoms, breakout-pullbacks, traps etc as the market moved between the larger pre-defined SR levels.

The problem with the above approach (based upon my risk averse monkey), is that it involved a lot of intra-day decision making as to whether or not a setup was valid or not. Is this really a double top? Has this really pulled back enough? This doesn't look right. etc. My performance was suffering not because of YTC (which is excellent), but because of me.

So to cut a long story short, I started to realize that I am far more comfortable coming up with a game plan pre-market based on context, market structure and the 'story' that the market has been telling recently. All my areas are now defined pre-market and I simply enter when the market reaches them. I will sometimes have limit orders waiting in the market an hour ahead of time to get in. I no longer take trades based on the current days developing price action,...all trades are defined ahead of time based on prior days/weeks action.

To this end, I now use volume profile and auction market theory extensively. Not because VP is an entry/exit method which in my opinion it is certainly not, but because it helps structure the market and tell a story. I now define my trades before the market opens based on the story

Sorry for the long winded response. Just thought I would give a proper answer so it didn't seem like I was jumping to VP because it was the cool new thing on the block. I gravitated to it specifically because of how it reduces my need to rely on the current day's developing price action, which is where my risk averse monkey comes out to play.

With all that said, for someone who enjoys trading based off of the current day's developing price action and who is suited to it psychologically,...I can't recommend YTC highly enough.

Diversification is the only free lunch
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