YTC Price Action Trader (www.ytcpriceactiontrader.com) - Trading Reviews and Vendors | futures io social day trading
futures io futures trading


YTC Price Action Trader (www.ytcpriceactiontrader.com)
Updated: Views / Replies:41,964 / 94
Created: by Adamus Attachments:59

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 59  
 
Thread Tools Search this Thread
 

YTC Price Action Trader (www.ytcpriceactiontrader.com)

  #81 (permalink)
 Vendor: diversifyportfolio.com 
PTA, Gauteng
 
Futures Experience: Advanced
Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,032 since May 2012
Thanks: 1,209 given, 1,290 received


YertleTurtle View Post
As far as I can tell no one is profitably running this system on futures.io (formerly BMT) - is this accurate?

You may want to check out my old journal. The roots of my old trading method were firmly based on YTC, and yes I did consider it to be profitable however it is by no means a 'system'. YTC is very much about identifying market state and using discretion and experience to trade. Trying to automate YTC into a 'system' is the wrong way to go in my opinion.

I no longer trade a YTC based methodology, but that is purely as a result of a natural progression i've found myself taking and a move to something that i've found to better suit my psychology. YTC is however excellent and Lance Beggs really knows his stuff.

Old journal: PASR Journal

Diversification is the only free lunch
Reply With Quote
The following 5 users say Thank You to DarkPoolTrading for this post:
 
  #82 (permalink)
Elite Member
London, UK
 
Futures Experience: Beginner
Platform: NinjaTrader, home-grown Java
Broker/Data: IB/IQFeed
Favorite Futures: EUR/USD
 
Adamus's Avatar
 
Posts: 1,085 since Dec 2010
Thanks: 470 given, 778 received


DarkPoolTrading View Post
You may want to check out my old journal. The roots of my old trading method were firmly based on YTC, and yes I did consider it to be profitable however it is by no means a 'system'. YTC is very much about identifying market state and using discretion and experience to trade. Trying to automate YTC into a 'system' is the wrong way to go in my opinion.

I no longer trade a YTC based methodology, but that is purely as a result of a natural progression i've found myself taking and a move to something that i've found to better suit my psychology. YTC is however excellent and Lance Beggs really knows his stuff.

Old journal: PASR Journal

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.

You can discover what your enemy fears most by observing the means he uses to frighten you.
Reply With Quote
 
  #83 (permalink)
 Vendor: diversifyportfolio.com 
PTA, Gauteng
 
Futures Experience: Advanced
Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,032 since May 2012
Thanks: 1,209 given, 1,290 received



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
Reply With Quote
The following 12 users say Thank You to DarkPoolTrading for this post:
 
  #84 (permalink)
Elite Member
London, UK
 
Futures Experience: Beginner
Platform: NinjaTrader, home-grown Java
Broker/Data: IB/IQFeed
Favorite Futures: EUR/USD
 
Adamus's Avatar
 
Posts: 1,085 since Dec 2010
Thanks: 470 given, 778 received

Not long-winded at all. All makes sense. You're using volume profiles to find the levels? (or does that question make me look stupid?)

Using volume (and switching from forex to futures) is one of the options that lies ahead for me if my latest approach that I'm currently working on doesn't pay off - although higher on my list is lengthening my time-frame. I am trying to develop the ability to work the YTC PAT methodology on the 3-min time-frame but my last foray showed me I wasn't experienced enough to keep it all together on a 3-min chart. On the hourly chart though, that could be a totally different story.

You can discover what your enemy fears most by observing the means he uses to frighten you.
Reply With Quote
 
  #85 (permalink)
 Vendor: diversifyportfolio.com 
PTA, Gauteng
 
Futures Experience: Advanced
Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,032 since May 2012
Thanks: 1,209 given, 1,290 received


Adamus View Post
Not long-winded at all. All makes sense. You're using volume profiles to find the levels? (or does that question make me look stupid?)

Yes my areas of interest are determined using the profiles,...but more importantly I use them to tell me a story of what the market is trying to do. I try to trade with the story.


Adamus
Using volume (and switching from forex to futures) is one of the options that lies ahead for me if my latest approach that I'm currently working on doesn't pay off - although higher on my list is lengthening my time-frame. I am trying to develop the ability to work the YTC PAT methodology on the 3-min time-frame but my last foray showed me I wasn't experienced enough to keep it all together on a 3-min chart. On the hourly chart though, that could be a totally different story.

Good luck. That's what's great about YTC, it really doesn't matter about timeframe, it's about understanding the price action. So you can scale up or down the time frame as needed.

Diversification is the only free lunch
Reply With Quote
The following user says Thank You to DarkPoolTrading for this post:
 
  #86 (permalink)
grappling dummy
Hawaii at the beach
 
Futures Experience: Beginner
Platform: Nt8, MotiveWave, TOS
Broker/Data: S5
Favorite Futures: ES, ZB fine alcohol and muscle cars
 
KahunaDog's Avatar
 
Posts: 476 since Apr 2013
Thanks: 945 given, 344 received

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?

Reply With Quote
 
  #87 (permalink)
 Vendor: diversifyportfolio.com 
PTA, Gauteng
 
Futures Experience: Advanced
Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,032 since May 2012
Thanks: 1,209 given, 1,290 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.
Reply With Quote
The following 3 users say Thank You to DarkPoolTrading for this post:
 
  #88 (permalink)
Elite Member
san diego CA/USA
 
Futures Experience: Beginner
Platform: SC, TOS
Favorite Futures: ES, CL
 
Posts: 35 since Aug 2013
Thanks: 24 given, 12 received

YTC and trend line and channels line

I have taken a quick glance at YTC books (including scalping) but i figured that he does not take in account trend line and channels as potential S/R lines unlike PAT {Mack} method.


Any YTC'ers can comment on this

Reply With Quote
 
  #89 (permalink)
Elite Member
London, UK
 
Futures Experience: Beginner
Platform: NinjaTrader, home-grown Java
Broker/Data: IB/IQFeed
Favorite Futures: EUR/USD
 
Adamus's Avatar
 
Posts: 1,085 since Dec 2010
Thanks: 470 given, 778 received

You are totally correct. He uses previous swing highs and swing lows to establish horizontal support and resistance levels. He doesn't provide any other techniques.

I'm not familiar with Mack so I can't make a comparison, but on this point, I'd say that YTC PAT is pretty much a complete package, and it would be up to you to add or remove any part of it as you felt fit and you would still benefit from the rest to almost the same degree.

You could check out his website to see whether he's done any articles specifically on using trendlines or channels.

You can discover what your enemy fears most by observing the means he uses to frighten you.
Reply With Quote
 
  #90 (permalink)
Market Wizard
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,690 since Oct 2009
Thanks: 3,039 given, 4,479 received



contrails View Post
I have taken a quick glance at YTC books (including scalping) but i figured that he does not take in account trend line and channels as potential S/R lines unlike PAT {Mack} method.


Any YTC'ers can comment on this

I would guess Mack's method is easier as his setups are of two kinds: second entry or failed second entry at a trend line or EMA(20). YTC trades at horizontal levels of S&R based on strength and weakness analysis a la Wyckoff. YTC as many others considers trend lines as an illusion.

Reply With Quote

Reply



futures io > > > YTC Price Action Trader (www.ytcpriceactiontrader.com)

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

FuturesTrader71: TBA

Elite only

Al Brooks: TBA

Elite only

Jigsaw Trading: TBA

Oct 19

RandBots: TBA

Oct 24
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Learning Price Action bomberone1 Traders Hideout 2 April 25th, 2011 09:28 PM
Books about price action? mindfultrader Traders Hideout 9 March 24th, 2011 10:25 AM
Predicting Price Action trendisyourfriend The Elite Circle 8 December 22nd, 2010 05:03 PM
Price Action Setups Zoethecus Emini Index Futures Trading 5 February 10th, 2010 10:51 AM
Trading Price Action cbratton The Elite Circle 14 November 17th, 2009 03:07 AM


All times are GMT -4. The time now is 10:47 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-09-24 in 0.16 seconds with 20 queries on phoenix via your IP 54.224.230.51