YTC Price Action Trader (www.ytcpriceactiontrader.com) | Trading Reviews and Vendors


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YTC Price Action Trader (www.ytcpriceactiontrader.com)

  #87 (permalink)

 Vendor: diversifyportfolio.com 
PTA, Gauteng
 
Futures Experience: Advanced
Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,036 since May 2012
Thanks: 1,244 given, 1,302 received


KahunaDog View Post
Darkpooltrading...
I have found the same thing. Looking solely at intraday price action confuses the trees for the forest. Drawing and identifying trade zones and no trade zones are a big key. But intraday I can and have seen countless times smart money violate known s /r zones to run stops.
That is why I want to learn VP.
I have conversed online with Ytc (Lance) on charts or ideas hes posted. Though do not have his book. Many of his trades and PA is similar to what I have scrounged up in pa and have used.

Which VP or system on orderflow have you focused on? I am only familiar with some of the basic theory. I have been debating on Jigsaw and Marketdelta. The footprint chart is the easiest for me to id with. I have the NoBs book on orderflow watched his and other videos. But am wondering on the next step. I was thinking a room like Marketdelta or jigsaw would be the next step. Any suggestions?

Hi @KahunaDog,

This thread is to review YTC and we're getting a bit off topic so ill keep this brief. Feel free to pm me if you want more info.

For the time being my methodology doesn't incorporate any orderflow analysis. This is primarily because im trying to not focus too much on the intraday developments and choose to instead trade with the larger picture. That is what VP gives me. Essentially I trade using principles of auction market theory, balance vs imbalance, value etc. That's not to say I wont add order flow analysis into the mix in the future, but for the time being my focus is on the forest, not the trees

As far as where to start, reading Mind over Markets is generally the recommended kick off point. After that you'll have an idea if this way of trading is something that appeals to you and can then start looking into it more deeply.

Coming back to YTC, I have his book and even though I no longer trade with his method it remains one of the best trading books i've ever read. It doesn't just cover the methodology, it also goes into good detail on trading as a business, how to use journals effectively (multiple types of journals used for different things), market structure etc.

Diversification is the only free lunch

Last edited by DarkPoolTrading; February 27th, 2014 at 08:56 AM.
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