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Price Action - My Journey to Profitability


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Price Action - My Journey to Profitability

  #1 (permalink)
Fredericton
 
 
Posts: 8 since Apr 2014
Thanks: 5 given, 8 received

Price Action - My Journey to Profitability

First post on futures.io (formerly BMT) !!

I decided to join after being a participant and viewer at both ET and TL and not getting much learning at either. Don't get me wrong there are obviously some PHENOMENAL traders on both, however I find the good info was scattered amongst a lot of negativity and ego and I also found I took heat on both sites for being a newby to trading.

futures.io (formerly BMT) seems much more positive and Mike's webinars that have been posted on YouTube are AWESOME!

For approximately a year, I have been learning to trade. I am currently a university student and therefore have a limited capital base - but I am a break-even trader.

I do NOT claim to know everything about trading, nor do I think I do know everything, however I am not stupid and have picked up a lot of knowledge over the past year, I am much further along than I would have predicted. But I will not lose sight of the fact that I am young, still inexperienced and dying to learn as much as I can, and will appreciate EVERY constructive comment that is given. Flat-out negativity will be ignored.

This journal will be my journey into price action.

I have recently been learning Wyckoff and VSA - I hope that others will be able to offer comments and recommendations based on what they see from my journal. Since I am busy with school and only get to check on the market a few times during the trading day, I trade off of the daily chart.

Thanks for having me Big Mike, I look forward to being a part of this site for many years to come!!


Last edited by MaritimeCanuck; April 22nd, 2014 at 01:41 PM.
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  #3 (permalink)
Fredericton
 
 
Posts: 8 since Apr 2014
Thanks: 5 given, 8 received


One other point..

If any users have any suggestion about material (whether it be books, courses, etc) or threads to follow or study, I would LOVE to hear them

I am always looking to expand my understanding of the markets.

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  #4 (permalink)
Buenos Aires
 
 
Posts: 11 since Apr 2014
Thanks: 2 given, 3 received

Hi there!

I'm also learning about price action. In the past I made courses and learn a lot about technical analysis, Elliot waves and other stuff. Last month I went into Mack's Price Action system, and now I began to read Al Brooks Bar by Bar book.
I have so many concepts already, but sadly not too much practice, and that's what I'm seeking now.

I'm also having the problem you have with the time to enter the market, so my best chance is to put in practice a swing trading method. I cannot be a scalper since I don't have the time to see the market during the day (I have to go to work).

For now, I'm just practicing with a virtual account, analyzing and trading on past dates. Thanks to that I'm simulating trades during night hours as if they were market hours.

Maybe we can work on a method that apply to us

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  #5 (permalink)
Madison, WI
 
Experience: Beginner
Platform: Ninjatrader
Trading: ES
 
Posts: 60 since Sep 2011
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Go to Welly's thread

Go to Welly's thread, fantastic resource.

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  #6 (permalink)
Buenos Aires
 
 
Posts: 11 since Apr 2014
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Pocwave View Post
Go to Welly's thread, fantastic resource.

You mean this one?

https://futures.io/trading-journals/29780-day-trading-es-s-p-500-futures-contract-pats-style-twist-5.html

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  #7 (permalink)
Fredericton
 
 
Posts: 8 since Apr 2014
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Excellent AndresG! do use Ninja for market replay?

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  #8 (permalink)
Buenos Aires
 
 
Posts: 11 since Apr 2014
Thanks: 2 given, 3 received


MaritimeCanuck View Post
Excellent AndresG! do use Ninja for market replay?

No, I use ThinkorSwim with a real account (without funds yet). The real account on TOS has a function named On Demand, that gives you a virtual account with $100.000 to practice, and there you can go into past dates and trade as if it were present time

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  #9 (permalink)
Fredericton
 
 
Posts: 8 since Apr 2014
Thanks: 5 given, 8 received

I will have to check it out.. Hopefully it is available in Canada. How do you find PA Bar by Bar? I previously tried reading it but found it rather confusing.. perhaps just because it was one of the first few books I read on Price Action

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  #10 (permalink)
Fredericton
 
 
Posts: 8 since Apr 2014
Thanks: 5 given, 8 received


If you go looking for another book on Price Action after Bar by Bar.. Might I suggest you look at buying Trading By Price by dbPhoenix.. it has got to be the most complete and highest quality book on price action, it will not disappoint!

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