(SHARE) YTC Scalper and Price Action Trader

[conglo]

This is an excellent course.

 

Everyone here should study it, this is what trading is all about.

[JimJamBonks]

I agree Conglo - and I paid for it. :)

[wadesworld]

Yes one of the best down to earth teachers in the markets....thanks ninjatrader.

 

 

:-/:-/P.S. Conglo there is something fishy going on with that MagicChampII thread.....you and I posted the same thing about what the catch was from LuckyLuke2011 and now both of our posts and his are gone.:-?:-?:-?

[conglo]

So we both smelled the SAME FISH! hmm.. interesting.. one stinky fish..

 

Lucky Luke maybe not so lucky, maybe he Magic Chump

 

Yes one of the best down to earth teachers in the markets....thanks ninjatrader.

 

 

:-/:-/P.S. Conglo there is something fishy going on with that MagicChampII thread.....you and I posted the same thing about what the catch was from LuckyLuke2011 and now both of our posts and his are gone.:-?:-?:-?

[conglo]

"Lucky Luke" was probably a just a pseudonym for Karl Dittman

 

 

AHEM!! Anyways..

 

This course really is pure price-action trading explained in terms of how and why price moves the way it does; if you're at all interested please download and look it over, it is extensive but an easy read. At the core it really is simple, nothing complicated here, but it is an eye-opener (for me, at least); it's just a matter of changing your perspective a bit.

 

I wish I'd found this sooner.

 

Thanks again to ninjatrader.

Edited July 8, 2011 by conglo

[wadesworld]

Well if you like Lance Beggs be sure to watch these free courses on youtube.....Enjoy.

 

http://www.youtube.com/user/YourTradingCoach#p/u

 

http://www.yourtradingcoach.com/

Edited July 8, 2011 by wades-world

[ninjatrader]

Thanks all,

 

This definitely should be your first read to everyone. But there's also another strategy with candle technique which I'm really looking for "http://[email protected]/". Can anyone share this one.

[conglo]

yoodahman, bro.

 

Well if you like Lance Beggs be sure to watch these free courses on youtube.....Enjoy.

 

http://www.youtube.com/user/YourTradingCoach#p/u

 

http://www.yourtradingcoach.com/

[conglo]

If I can find it I'll post it..

 

Thanks all,

 

This definitely should be your first read to everyone. But there's also another strategy with candle technique which I'm really looking for "http://[email protected]/". Can anyone share this one.

[kang]

Thanks all,

 

This definitely should be your first read to everyone. But there's also another strategy with candle technique which I'm really looking for "http://[email protected]/". Can anyone share this one.

 

pls share .

[Sesshoumaru]

Thanks all,

 

This definitely should be your first read to everyone. But there's also another strategy with candle technique which I'm really looking for "http://[email protected]/". Can anyone share this one.

looks interesting, anybody has this?

[ninjatrader]

Hey Guys,

Hope you all are receiving Lance newsletters. Great read... (Sorry for the format I cant copy and paste with charts)

 

Examination of a Candlestick Pattern Failure

 

 

 

Monday 25th July 2011

 

 

 

In the recent "What is Price Action Analysis" article I introduced two types of analysis - pattern vs behavioural. The second is the technique I much prefer; observation of the price bars and price swings in order to identify signs of bullish or bearish price behaviour, or signs of strength and weakness.

 

 

 

Let's look at an example from today's GBP/USD charts in which a pattern failure was easily foreseen through strength / weakness analysis.

 

 

 

The intent is not so much to bash pattern analysis or to proclaim strength / weakness analysis as superior (ok, maybe a little). Rather, the intent is to demonstrate how the two can be used together... using strength / weakness analysis on a lower timeframe to examine the internal behavior of patterns. If you're a pattern trader, this approach may assist you in avoiding some of the lower probability pattern based setups.

 

 

 

As stated in many of my blogs, the timeframes and markets displayed here are irrelevant. The concept is applicable across any market and any timeframe, provided sufficient liquidity to ensure smooth price flow.

 

http://www.yourtradingcoach.com/images/stories/blog/jul-2011/25-jul-11-gbp-5-min.jpg

 

http://www.yourtradingcoach.com/images/stories/blog/jul-2011/25-july-11-gbp-1-min.jpg

 

http://www.yourtradingcoach.com/images/stories/blog/jul-2011/25-jul-11-gbp-5-min-2.jpg

[congok]

not enough post so thanks for the ebook

[forezzz39]

Thanks Ninja...........

[ninjatrader]

Hello Everyone,

I would like to simulate this thread to not only share but also discuss the YTC setups. I know PA threads are not popular but for those interested i hope for all to part take. If you have trouble we all can help. So lets begin:

 

1)BPB (Breakout Pullback)

2)BOF (Breakout Failure)

3)TSR (Testing S/R)

4)SST (Steady State Trend)

5)WT (Weakening Trend)

6)*CPB (Complex Pullback) *not really a setup but something to keep in mind as the market always try's to shake/trap you on a trade.

 

The setups above are explained in fine detail. I recommend watching the video 3x before you read, mid read and at the end. My swing trading has improved dramatically even though YTC uses 30/5/1 min TF. Same principals can be applied in higher TF's. I.E daily/4/1 hour TF's.

My aa-haa moment is when Lance spoke about the slope of PA and candle development in relation to the current trend as discussed in the weakening trend part.

BPB/BOF/TSR setup will happen at S/R (Previous swing H/L).

WT/SST setup will occur in between S/R.

 

When to enter was always my problem. You know when to enter i.e pullback. But it's easier said then done in real time. Lance has several youtube video on reversal candles to help. But what usually helps me is drawing a horizontal line from the previous HH or LL. When price makes a new high or low and retraces (pullback) close to the horizontal line look for a reversal candle (IB/OB/reversal candles) in that area. Keep in mind depending on volatility pullback can get as low as the 61 fib area (personally like). If volatility does not go at or lower the 50% fib then I will not take the trade as my target is usually the last high or low. Which would give you at least a 1:1 ratio. Again study the candles and there strength and weakness. Always cut your losses short. Thats why you need at least 10,000 hours of chart reading time. When your in a drawdown you want to see weak bearish/bullish candles or stall or consolidation. Thats the only way you should stay with you trade and follow your game plan bar by bar. Once I see strong bearish/bullish candle against me during a draw-down cut your losses short because new sellers/buyers are coming in. I'm still testing and studying CPB or 2B (many different names). Usually these are traps and if you happen to catch one you will be rewarded handsomely. As trapped traders liquidate there positions prices will skyrocket the opposite side (ie trend).

 

I would like to see different ideas and breakdowns using these setups.

 

Happy Trading.

[wadesworld]

I agree NT. Out of all the threads I am involved with right now on II, this is only one I need to be paying any attention to. And I like you feel more comfortable on the higher tf's. I will start to focus more on this thread and see if we can start getting more people involved. Beggs has always been a good teacher. His approach is directed towards the laymen..

[dufus]

Thanks Ninjatrader, for sharing, great stuff!

[ninjatrader]

Hey all,

Just want to post some examples on a filtered candlestick pattern along S/R.

Only look to trade at the extreme like Prev. day H/L, PA S/R, etc...

 

Attached is a BOF on the 5min and a 30 min on the ES

http://img850.imageshack.us/img850/4563/ytc5minslope.png

http://img607.imageshack.us/img607/651/ytc30min.png

 

You see a bullish hammer on the 30 min. And on the 5 min (filter) look at the LL/LH being made via slope formation of the candles. Bullish retracement are getting steeper as it approaches Y-low. While bearish candle took longer to fall/more weak bearish candles forming on the way down. I call this PA divergence;)

[Sesshoumaru]

anybody has any success in this method? i'm reading vol.3 trading examples now, i found it really hard to follow this one, though the idea looks good. it's just so stressful, i prefer set & forget way of approach, but this one requires too much attetion while giving not very promising results for some trades.

here i quote: " Note that bar by bar ongoing analysis continues throughout the trading process, both within the setup area prior to entry, and throughout the life of the trade. " i shouldn't say this is bs but i really don't like this type of trading.

anybody has any experience on higher timeframe which may result in less stress, and is it possible to tweak it into a set & forget manner of trading?

many thanks!

[ninjatrader]

Hey Sess,

Which setup are you having trouble with? Is it TST? And yes I apply this to higher TF's Monthly/Week/Daily/4 hr for S/R. And I look at 4 or 1hr charts to execute trades. Before entering you should have your exit strategy while ahead of time. For example focus bar by bar mainly when price is heading towards S/R. This is when your attention should be bar by bar. Because there are 3 possible setup scenarios at S/R which is BPB/BOF/TST. TST is a bit tricky and this is the one setup in which you may have trouble with (Cuz I do also). With time and practice you'll get the hang of it just like every other method out there. Here a little tip when i decipher what setup maybe comming up i wait for my 4 hr to be close to a S/R. Then I look at the current 4 hr trend and see if it's becoming a WT via weak slope/ stalling and stronger candle formation going counter-trend. Or a SST via no signs of the trend slowing down. So in a WT scenario i will look for a possible BOF or TST setup as the WT is telling me that it is slowing down to the upcomming S/R. In a SST scenario I will look for a BPB setup as the current 4hr trend shows no signs of slowing down. But of course you adjust accordingly. When I see a 4hr candle form on or near a S/R. I look at a 1hr/30min/15min chart and see how that same 4 hr bar developed. Then you adjust your setup if you see price doing something else then what you predict it should be doing according to each YTC setup. Hope this helps.

[semesta]

Do you have all videos from member area? May you share it too?

Thank a lot

Edited September 5, 2011 by semesta

[ninjatrader]

Do you have all videos from member area? May you share it too?

Thank a lot

 

What videos are you talking about? The one's on the site is free. Unless I'm missing something?

[JimJamBonks]

So far, Lance has only produced one video specifically for purchasers of the YTC PAT - namely the 'Future Trend Simplified' video which was bundled with the pdfs in post #1. The rest of the stuff on his blog and on the YTC website is all free - and it's solid gold. I appreciate it is a lot of reading and a lot more practicing but therein is everything you need - except the endeavour to make it work for you personally.

[semesta]

Ups! I'm sorry. My bad. I just reffer to another PA site (Nial Fuller’s videos).

But, YTC is my priority right now, coz is enough to trading the shadows.

Edited September 6, 2011 by semesta

[dinamo]

thanks!!!!!