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PATS Trading Psychology Or Mack's Soapbox
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PATS Trading Psychology Or Mack's Soapbox

  #51 (permalink)
Boise, Idaho/USA
 
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Yes I have switched to NT8 and I am using the factory order flow volume profile. Comes from watching all those FT71 you tubes, makes me feel like the chart is naked without it.

I also run Ed'sd Level2DOM on the right edge. Most of the time it is not helpful but occasionally you see a big bar.

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  #52 (permalink)
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Leon of Pizza,

Sorry wasn't clear on Tharp. He is talking about calculating your trade size to avoid risk of ruin.

Mack is pretty clear that he is showing a simplified method and refers to Al Brooks for those who want a deeper dive. I say this because I extend the concept to Mack's choice of stops and targets. He is using numbers that have worked for years. Now given the higher volatility he has suggested stretching things a little. But your program of looking at the rotations and their sizes matches up with FT 71 who is frequently running calculation on the average rotation. And that makes intuitive sense, a more volatile market with bigger moves should be treated differently.

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  #53 (permalink)
Market Wizard
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Become seasoned


Very important chart lesson, with a clear wisdom at the end.

Listen to it


“Happiness is the meaning and the purpose of life, the whole aim and end of human existence.” Δ
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  #54 (permalink)
Market Wizard
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Consistency

Listen from the beginning.

https://www.youtube.com/watch?v=eb3xQgWUUCE

Thanks Mack!

“Happiness is the meaning and the purpose of life, the whole aim and end of human existence.” Δ
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  #55 (permalink)
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Some positive stuff recently from Mack!




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Unread   #56 (permalink)
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PeanutButter108 View Post
Some positive stuff recently from Mack!

Thanks for putting those up!
The second one I was stuck by how much he and Dr. Van Tharp are saying the same thing. Mack uses the term tendencies, Van Tharp talks about working on your self and getting rid of or changing beliefs that are not helpful.

It always seems to become the same thing, you must do this alone Mack is just someone who can show you how to start the journey, but the path is your's alone. As overused as the movie scene is as a metaphor both Mack and Van Tharp are Yoda telling us we must face our internal fears alone.

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Unread   #57 (permalink)
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Trailer Guy View Post
Thanks for putting those up!
The second one I was stuck by how much he and Dr. Van Tharp are saying the same thing. Mack uses the term tendencies, Van Tharp talks about working on your self and getting rid of or changing beliefs that are not helpful.

It always seems to become the same thing, you must do this alone Mack is just someone who can show you how to start the journey, but the path is your's alone. As overused as the movie scene is as a metaphor both Mack and Van Tharp are Yoda telling us we must face our internal fears alone.

Hey, no worries! I really liked these as well so I was sure that others would find it helpful as well. I totally agree with what you said as well because mindset in my opinion is the most important personal trait that is needed with anything to be honest. Even outside of that, it's dealing with the obstacles that may present itself on such a journey and staying persistent through all of it. Definitely great to here from someone who's been through it all.

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Unread   #58 (permalink)
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Thursday the 28th, Mack's video, about 12 minutes in he is talking about the bottom at around noon New York Time. He goes into a brief monologue on second entries. You know your ears need to go up when he says I don't put this in the book...

Around 19 minutes in he starts with an e-mail and goes on for 10 minutes. Basically one of his standard talks.
Part 1. Keep reading the manual and you will find something new every time you read it.
Part 2. People who have mastered trading do not hang out in chat rooms. If you try to explain how to do Price Action Trading correctly in a chat room they will rip you to shreds with false information.

My 2 cents. Yes, as you spend your days getting screen time stuff makes more sense and re-reading it expands your knowledge. Many years ago I had a teacher (high school biology) who keep saying "you only see what you know".

Would people on these forms deliberately shoot Mack down? Well I think it is very likely because so many of us are well intended but lack some knowledge. So then what is the point of posting this stuff from time to time. Read your Dr. Brett Steenbarger. Apparently we all do have an altruistic side to our personalities. After all we are social creatures and we all like to see others succeed. On the other hand there is never a person who is more wrong than the one who is dead sure of their position. So yes, you can say, hey I think this method works and someone will come along and say I am positive it won't and here are my reasons. It is a lost cause to argue with them, especially when they are citing stuff that isn't correct as part of the proof.

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This is the bottom around Noon on Thursday New York. My chart is Mountain time. I have marked it up with Mack's arrows, more or less. Red and blue are safe bets. You can see the moves around the EMA and the obvious trend lines. I have the PriveActionSwing set at strength of 4 marking tops and bottoms. I am using Lizard Indicators opening range to keep track of the pre-open and cash market highs and lows, Not the opening range. If I could use these new languages I would change the label!

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Unread   #59 (permalink)
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You've got to be disciplined to be successful.



1st episode starts at around 2:55 about key areas.

2nd eposiode starts at the end, around 20:00 about discipline, mental strenght and consistency.

“Happiness is the meaning and the purpose of life, the whole aim and end of human existence.” Δ
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Unread   #60 (permalink)
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Believe in yourself




Two in a row!

Starts around the 20 minute mark.

Enjoy

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