Mtype 

Hi PipBandit, Yes I would. He is very consistent with his work and also does it for free but just like any other trading system the time & effort required to make it work is substantial, at least from what I've experienced. I've been following him since 2014 and as you can see I deeply appreciate his work.

I notice all his charts are tick charts.... does his strategy apply to min charts as well? such as 5 min, 15 min, etc?

PipBandit 

I notice all his charts are tick charts.... does his strategy apply to min charts as well? such as 5 min, 15 min, etc?

Yes, sure. It is a way of seeing the market. However, you will have to adjust your trade management and size accordingly of course.

Also, please keep in mind that this thread is meant for PATS Psychology.

PipBandit 

I notice all his charts are tick charts.... does his strategy apply to min charts as well? such as 5 min, 15 min, etc?

Al Brooks demonstrates the strategy with 5m bars. He calls it H1, H2 (L1, L2). H2 is a "second entry" buy. Brooks' philosophy is that there are sufficient opportunities with 5m bars, so he avoids the stress of working the lower time frames. Also, there's something to keep in mind about tick charts: the varying pace. When volume is high, the tick chart is cranking out 30 second bars, requiring you to analyze and make decisions faster. When it slows down, they might be 3m to 15m bars. So there's an added task of perspective adjustment. I don't use tick charts.

Mtype 

This one is an exceptional piece. One of my favourites! I have a part of it on my phone and listen to it from time to time. Price Action Trading With Mack 8-6-2014 Speech begins at: 25:27 The best part about what it takes to become a trader begins at: 30:40 The 38 steps to becoming a successful trader that he mentions: We accumulate trading information - buying books, going to seminars and researching. We begin to trade with our 'new' knowledge. We consistently 'donate' and then realize we may need more knowledge or information. We accumulate more information. We switch the commodities we are currently following. We go back into the market and trade with our 'updated' knowledge. We get 'beat up' again and begin to lose some of our confidence. Fear starts setting in. We start to listen to 'outside news' & other traders. We go back into the market and continue to donate. We switch commodities again. We search for more trading information. We go back into the market and continue to donate. We get 'overconfident' & market humbles us. We start to understand that trading success fully is going to take more time and more knowledge then we anticipated. -------------------------------------------------------------------------------- Many Traders Will Give up at this Point as they Realize Work is Involved We get serious and start concentrating on learning a 'real' methodology. We trade our methodology with some success, but realize that something is missing. We begin to understand the need for having rules to apply our methodology. We take a sabbatical from trading to develop and research our trading rules. We start trading again, this time with rules and find some success, but overall we still hesitate when it comes time to execute. We start trading again, this time with rules and find some success, but overall we still hesitate when it comes time to execute. We add, subtract and modify rules as we see a need to be more proficient with our rules. We go back into the market and continue to donate. We go back into the market and continue to donate. We start to take responsibility for our trading results as we understand that our success is in us, not the trade methodology. We continue to trade and become more proficient with our methodology and our rules. As we trade we still have a tendency to violate our rules and our results are erratic. We know we are close. We go back and research our rules. We build the confidence in our rules and go back into the market and trade. Our trading results are getting better, but we are still hesitating in executing our rules. We now see the importance of following our rules as we see the results of our trades when we don't follow them. We begin to see that our lack of success is within us (a lack of discipline in following the rules because of some kind of fear) and we begin to work on knowing ourselves better. We continue to trade and the market teaches us more and more about ourselves. We master our methodology and trading rules. We begin to consistently make money. We begin to consistently make money. We get a little overconfident and the market humbles us. We continue to learn our lessons. We stop thinking and allow our rules to trade for us (trading becomes boring, but successful) and our trading account continues to grow as we increase our contract size. We are making more money then we ever dreamed to be possible. We go on with our lives and accomplish many of the goals we had always dreamed of. Source: Steps to Successful Commodities Futures Trading as published in Commodity Futures Trading Club News and in Traders Organization's Real Success Daytrading Course This stuff is gold!

It's incredibly scary how accurate this list pertains to me. I'd say I'm at about #24 now although I feel like I'm light-years away from #25 lol

Valuable as usual. Watch it and learn. You will get it!

Starts around 21:00

Man really good talk by Mack! I almost forgot to list it here.

Starts at 16:55

Watch it, it will help you!

Interesting episode from Mack! He seems to be at his best when he gets a little frustrated. Anyway I wish him the best. He is awesome!

Last week, toward the end of the week Mack did a live trade, something he doesn't do much of.
By the way if you want to learn price action the last couple of weeks of video's (he tries to cut off at 30 minutes) have been a great seminar on how to do it with lots of time spent answering questions from viewers who haven't figured out the fundamentals.

Mtype 

Valuable as usual. Watch it and learn. You will get it! Starts around 21:00

Currently cleaning all of my backlog on Macks videos from January 6th through today - and I came here because I wanted to post exactly this piece



points he raises in this video:
- trade bigger, not more. But be prepared that it'll take time to grow your trade size.
- the mental side and experience are key, learning the method doesn't take long.
- if you are not 100% confident in your read, you are just gambling. (that was me, today).
- you are getting better by studying all your trades, and reviewing the entire day's priceaction.
Not by sim-trading and then going home.

I like the bullet points @Scalpingtrader. We should add that from now on and if you see something that I've missed, you know what to do. I respect Mack so much, he shares a working system for free and teaches the little details on the mental side that don't come easy. We are lucky!

Hope you will make the best use of it!