Live Trade Example 03-21-2021
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Here is another live trade I took just before lunch today. I describe everything in the video, but I was looking for a scalp first and foremost, but also hoping that prices made another leg up where I could catch a nice runner, which I did. Enjoy!
Comments
Mizz March 23, 2021 at
Nice trade Mack! Thanks for posting. Great to see/hear your thought process through that trade. I followed your rationale with the hidden 2nd entry and trying to catch that reversal. Could you clarify about how you saw a 1st entry there? I may not be seeing it right, but it looks like that’s the 3rd entry long on that particular setup? Thanks!
Mack March 23, 2021 at
An easy way to do this would be to open a 1000 or 1500 tick chart and see if you can see the 2nd entry then. When hidden, it is just not there on the current chart, but would be there on a smaller chart. Nothing more than that really. Price action works on every level, and there are multiple levels going on at all times.
Victor March 23, 2021 at
Awesome, thanks for this live trade videos 🙂
OX March 23, 2021 at
Mack. These live videos are so helpful. I learn 3X more than on the static videos –and the static videos are great. Thanks for all of these that you post.
thevmackwin March 23, 2021 at
It’s impressive to see what can be accomplished by being a fluent chart reader and conquering psych demons!
Standing ovation given once you exited both parts, always cheer during your live trades.
Also heard what you said about returning to the original markups, so grateful.
Thanks Mack.
Greatlookinguy March 24, 2021 at
Sublime. Each new live trade video gives folks like me awesome, new insights into the way your mind thinks through options and analyses the context in real time Mack. Thank You! I was wondering.. what would you think about waiting for prices to break above that signal bar and drop a limit order a tick or two below so that your 1 point scalp target would be reached before prices hit the EMA? You would have got filled on that this time. This also appears slightly similar to the mini-congestion breakout pullback that we got to see in your last live trade.. a few bars seeming to stack up (but no doji), then a mini breakout pullback before prices went further in our direction. So here if we had waited just a tad, and this being only a 1st entry on this chart, more likely prices will pull back and fill in a limit order.. what do you think?
Mack March 24, 2021 at
You could do it that way, but on these traps, a lot of times you will miss the best trades doing so. I don’t like entering like that except when I miss a trade and still like it and want to try and get aboard.
Greatlookinguy March 24, 2021 at
It is like winning the lottery with all the info one can hover off these live trade videos of yours Mack.. please when you can and it is not too much trouble, please do keep them coming. Each time I listen to you talk during these videos, each time I learn something new. It is priceless to see you consider and reject/accept various context possibilities.. “Notice this downtrend following that big uptrend did not even go halfway down the swing before trend break and new low? This shows buying power coming in.” (Context, Context, Context !!!). “After this new low following trend line break prices will at least try to reach the EMA and here comes a higher low – hidden second entry.” (Setup, Setup, Setup!!). Wow! My win rate has gone through the roof recently almost like when one hits the gym for a long time and nothing happens, and then suddenly a growth spurt. Your premium videos, especially one on entering in corrections, has been very, very helpful. I am especially finding entering on limit orders on advanced setups to be hugely rewarding (let the prices first show you they are headed, and then coolly place a limit order a tick or two back to see if it backs up and fills you in.. (much better chance of a runner at breakeven+ 1 tick holding as well as you get a way better entry price point), and giving me many more opportunities to enter trades during the day. Have you considered showing some advanced trades in your daily lesson or live trade videos? I know there are more newbies here and all the power and our love to them, but some of us intermediate folks could really make strong progress with some advanced level trade examples. Just a thought. Thank You once more.