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Price action chart lessons by Mack's PATS Trading (priceactiontradingsystem.com)


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Price action chart lessons by Mack's PATS Trading (priceactiontradingsystem.com)

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  #11 (permalink)
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NW27 View Post
How many pages are in his price action manual ?

75 pages. Big font.

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  #12 (permalink)
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It is a manual with 75 pages

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  #13 (permalink)
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I have been demoing his Price Action method for a week now on the 10,000 Volume chart.It is a simple strategy,but it takes alot of practice,and chart studying to get familiar with the set-ups.He suggests using either a 2000 Tick chart,10,000 Volume chart or a 5Min chart. I like the Volume charts much better than Tick charts,alot less chop and fakes.

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Bri219 View Post
I have been demoing his Price Action method for a week now on the 10,000 Volume chart.It is a simple strategy,but it takes alot of practice,and chart studying to get familiar with the set-ups.He suggests using either a 2000 Tick chart,10,000 Volume chart or a 5Min chart. I like the Volume charts much better than Tick charts,alot less chop and fakes.

That is really interesting that you use the Volume chart. I opened up clean charts for 2000 tick and 10000 volume and looked at the first trade this morning during RTH.

On my charts once the signal bar has closed (the stop entry would be one tick above it @ 1368.75) - I noticed the subsequent bar on my TICK chart ranged from 1368.00 to 1369.50 and the same bar on the VOLUME chart ranged from 1368.25 to 1369.50.

Of course I know there is 2 different measurements in play here, but my question is...do you find yourself missing entries because your volume chart ticked a different range than the tick chart, i.e. in some cases too close to your entry on the signal bar and hence you miss it?



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  #15 (permalink)
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I dont really miss too many entries,and I didnt really notice too much of a tick difference until you mentioned it.I dont take all of the trades Mack takes shown at the end of the day review.If I miss some trades it was because I wasnt too comfortable with the trade or just skeptical of the price actions direction.

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  #16 (permalink)
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capsmart View Post
It is a manual with 75 pages

@capsmart; @Nicolas11, I've watched a number of his videos and found them to be quite good. Is it worthwhile getting the manual in your opinion? thanks

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  #17 (permalink)
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flipper26 View Post
@capsmart; @Nicolas11, I've watched a number of his videos and found them to be quite good. Is it worthwhile getting the manual in your opinion? thanks

The manual is good but I find that the following book is better and half the price.
"Forex Price Action Scalping" by Bob Volman

Regards,
Neil.

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  #18 (permalink)
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It's interesting to note that this guy uses a methodology which is based on trendlines just as Vince with his CL thread on futures.io (formerly BMT). I can't help but think about this article by Lance Begg:
6.18 Reasons Why Fibonacci Is An Illusion | Articles-Technical-Analysis

And this one by Greg Capra i just read today:
The Analysis is Done Horizontally, Not Diagonally - Traders Laboratory - 14749

One passage in the article by Greg Capra sticks out:
The enlightening moment came when I realize that the analysis of support and resistance is not to be done diagonally, it has to be done horizontally. It was so simple, but all the hocus-pocus analysis taught made it so hard to get to that point.

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  #19 (permalink)
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trendisyourfriend View Post
It's interesting to note that this guy uses a methodology which is based on trendlines just as Vince with his CL thread on futures.io (formerly BMT). I can't help but think about this article by Lance Begg:
6.18 Reasons Why Fibonacci Is An Illusion | Articles-Technical-Analysis

And this one by Greg Capra i just read today:
The Analysis is Done Horizontally, Not Diagonally - Traders Laboratory - 14749

One passage in the article by Greg Capra sticks out:
The enlightening moment came when I realize that the analysis of support and resistance is not to be done diagonally, it has to be done horizontally. It was so simple, but all the hocus-pocus analysis taught made it so hard to get to that point.

So Greg wont use diagonal lines for support and resistance yet he points out curvy lines as acting like support and resistance

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  #20 (permalink)
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mongoose View Post
So Greg wont use diagonal lines for support and resistance yet he points out curvy lines as acting like support and resistance

I suppose he meant supply and demand so it should rather be expressed like this:
The enlightening moment came when I realize that the analysis of supply and demand is not to be done diagonally, it has to be done horizontally...

Which leads me to believe that maybe drawing trendlines is just an activity to stay engaged in the moment but has very little to do with locating valid areas of supply and demand. To be sure, just consider how two individuals would draw their lines at different angles using different pivots.

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