Mack’s Live Trading Thoughts – Live Trade Example
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I videoed a live trade today explaining what I am looking at and what I am looking for during my trading time each day. This should be a good learning experience for many of you and give you a better idea of what you should be studying and learning overall.
I’m not going to spend much time explaining anything here in writing, as you can see it firsthand in the video. I hope it is helpful and gives many of you a better idea of what is important when studying each day, as that is what is critical to success.
Trading is a skill, and you hone a skill through study, practice and repetition. Trading alone won’t make you a better trader. It is the study of your charts and your trades at the end of every trading day that will make you better, so use that time wisely and make sure you are studying what matters. The majority are not even studying, so just studying is a head start, but if you study properly and learn to see the correct things, it will really push you ahead of the “donor” herd. Don’t be a doner!
Good trades all!
Comments
longhorn3 November 15, 2023 at
This is awesome. Thank you!
htruong110 November 15, 2023 at
Why did you take that trade in the video? 2nd entry short but It wasn’t really a confirmed downtrend right?
Mack November 15, 2023 at
It’s a downtrend htruong110, prices are making lower highs and lower lows for multiple swings. It’s also looking to be a range day, so I was expecting prices to go lower and attempt to test the lower side of the range. Now the trendline itself didn’t get a third confirmation if that is what you are asking, but that didn’t mean we can’t take a short there. If you get the right setup, prices should still retest the lows.
highbob123 November 15, 2023 at
Thanks Mack. Great post!!
Eric November 15, 2023 at
Please reference this more complete listing of Mack’s live trades through time: https://priceactiontradingsystem.com/forum/historic-pats-videos-articles/mack-youtube-live-trading/#post-27060
Redanronnie November 15, 2023 at
Thank you so much for this! I really appreciate the time you take to do this. I have been working on drawing trendlines, finding support and resistance and learning to understand the bigger picture of the chart while waiting for key entry points in the sim this week. My chart looked very similar to yours, so it lets me know that I am on the right track. Thanks again!
mike123 🇮🇱 November 15, 2023 at
Thank you Mack for this live vid, much appreciated!