This is a live trade by a student named Evan. Evan takes advantage of a failed second entry short here. This is great chart reading and how you anticipate failures in advance.

Even has indicated that his win percentage is now over 80%, and he was able to achieve this level of skill by trading and studying diligently for many hours. I want to post a small snippet of his reply to me so that others can see that what I suggest works.

Evan said: “I don’t know if you remember me, but I was one of those who bugged you constantly for a few months. You pushed me out of the nest and it was the best thing for me. After about 70 days of trading in the sim, I managed to double a 10k account and had 83% accuracy over about 200 trades. Now I am dipping my feet in live and had a video I wanted to submit for the channel if you approved of it.”

Many of you are wanting more hand holding and it is not that I mind helping, but the process works if you follow it. That process is trading daily and then diligently studying your trades and figuring out what went wrong. You should only email me for feedback or questions when you simply can not figure something out on your own. By studying your trades and charts and trying to figure out what went wrong, you improve your trading and speed up the learning curve. The key is getting as much screen and trading time as possible, then the study of your trading and charts, learning your tendencies and correcting them.

Everyone’s tendencies will be slightly different, so it is critical that you study your trades and chart daily, as that is what will make you a better trader. Sim trade as much as possible. Do not worry if you are wrong or right when trading, just try to follow the rules and take the trades that you think fit our criteria. Enter the trade, put your stop and target where they go and just let it play out. Do not exit early, do not worry about the trade, just let it play out, wrong or right. Then at the end of the day, your real work starts as you study those trades and figure out what you did wrong and correct it. Figure out what you did right and reinforce the good decisions. If you truly can not figure something out, that is when you come to me.

If you follow this process, you will start to make strides and you will start to become a better chart reader and a better trader. This is a skill, and like any skill, repetition and practice make you better at it. Never lose sight of that fact! I will get off of the soap box now and let you watch this trade. Enjoy!

Live Trade Example of a Failed Second Entry Short.

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Comments

Fishinwyo August 12, 2020 at 10:42 am

As always. Great advice. Thanks Mack!

Reply

Jorge August 12, 2020 at 10:42 am

Hi Evan. Thanks for sharing. Excellent trade/narration and congratulations on doubling the 10K SIM Account. I’m not ready for that test yet but I’ll do that for sure before going live.

Did you use 2 contracts for the 10K Doubling test?

Thanks!
Jorge

Reply

Eric August 12, 2020 at 10:42 am

Nice trade and excellent patience!

Reply

Brane August 12, 2020 at 10:42 am

Hello Evan hello together,

You made a nice trade there. Seeing something like that helps a lot. It motivates me to stay on the ball and to keep on dealing with the theme.

I want to apologize for my (google translater) bad english.
I’ve been with Mack’s price action trading system for 2 months now and am currently fighting on two fronts.
One is to learn what is in the manual and the other is to understand it.
And the second one gives me much bigger problems!
I have to translate the whole thing into German and often the translation just doesn’t make sense!
So my question to all of you, are there people who are willing to get in contact with me and tell me some things that I don’t understand by translating the manual. In simple english 🙂
You would help me a lot and I would be infinitely grateful!

I hope this kind of contact between us students is okay for you, Mack?

Thank you very much and best regards
Brane

Reply

shaunabs76 August 12, 2020 at 10:42 am

Real nice trade. Great commentary and trade explanation. All the best for Live trading, youve put in the hard work so Im sure it will pay off.
Shaun

Reply

KC August 12, 2020 at 10:42 am

Great trade !! good patience it was by the book.
Cheers

Reply

mdtucker74 August 12, 2020 at 10:42 am

Mack. The live trading videos really help so you can see decision making and application of the strategy and rules. Keep ‘em coming.

Reply

SteveKY August 12, 2020 at 10:42 am

Great trade Evan!
I’ve been struggling seeing second entries. That helps.

Reply

Sharon August 12, 2020 at 10:42 am

Thank you, Evan! Great commentary!

Reply

Trader K September 3, 2020 at 10:42 am

This is great! Seeing these live while the tape is moving actually helps make it much clearer.

Reply

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