One thing that all new traders must understand early on is that The Price Action is Never Wrong. No matter how good we are at chart reading, if prices do not do what we expect, then that means we are wrong. You should not and cannot argue with the price action as you will never…...
The Price Action Is Never Wrong Read More »
Traders tend to panic when we get higher volatility and larger signal bars. These large bars and additional volume make it difficult, if not impossible, to enter using our minimum 2-point risk rule. In times like this when volatility is very high, we have to work with what we have or else we do not…...
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I get a lot of questions about whether what we do works only for scalping or if it will also work for those that prefer to stay in the market for larger moves, so today our lesson will cover both swing trades and runners. We call our day trading strategy a “scalp and run” strategy,…...
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One of the main reasons day traders lose money is that they do not trust their evaluation of the price action A lack of trust in your own ability to read a chart will lead to mental errors from actually over managing a trade. I have seen this more and more lately, and I am getting…...
This lesson is going to cover more details on how we occasionally use limit entry orders in our price action trading strategies. In general, most of our trade entries will be triggered by using stop orders placed one tick above our signal bar when going long, or one tick below our signal bar when going…...
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