Step by Step Process To Get The Right Trades

Free Trading Training Content

Date March 20 2024

Time frame - 2000 tick chart
Instrument - S&P 500 ES Futures
Indicator(Supportive) - 21 bar EMA

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Price action describes the characteristics of a security’s price movements. This movement is quite often analyzed with respect to price changes in the recent past. In simple terms, price action is a trading technique that allows a trader to read the market and make subjective trading decisions based on the recent and actual price movements, rather than relying solely on technical indicators.

The only people who know where the market is heading are institutions. They are the ones who make the market move and our job as retail traders is to follow their footsteps and get the piece of their movement. As price action traders we need to find the most profitable ways to enter trades. The highest probability setups are 2nd entries, its variations and confirmations setups at the key entry points.

[Preventviolencewithaccuracy]

I used your technique well today, and waited for 3 perfect trades! Thank you again.

[bombast]

Your explanation at 14:06 about when a 2EL is valid made things a lot clearer for me - thanks Thomas!

[artwithanant]

Thomas, please make a video on how to identify failed second entries. I don't know how to identify them.

[marke]

thanks for the continued updates but I remained slightly confused. At 2:00 you indicate this a 2EL before any entry bar has appeared. When the entry bar does come up, it's higher than the previous 1EL bar which previously you said resets the count. In fact the entry bar is equally as high as the high that started the move which you also said should reset the count.

[ronnieg]

When you calculate levels, or the range as you did in this video do you take from pre market only or do you use previous day as well? Any knowledge is appreciated Goat wade

[nikkaestabaya]

What timeframe do you usually use when doing price action rule?

[jonathanmezzenga]

As a scalper I know that like to set limit orders for your take profit for your runner and like to free roll or take the risk off the table in most trades but I’m curious. Do you ever or have you tried riding a longer term trend (say 10 min -1 hour) with a trailing stop order? What about using a candle close below the EMA as a manual trailing stop?

[bombast]

Hi Thomas, am I right in thinking that you generally scalp 1:1 and your target is always less than the ATR? I'm currently trading the minis and I'm experimenting to find a standard target somewhere between 80-90% of the ATR. Does that sound about right?

[Archer]

Thank you. 3-0 Took the F2ES but my SB was much better, the HL right after it, and the 2EL in the GOSNC at the end. Slow but had a few good set ups.

[trcx]

That first 2EL was great because if you caught that, you can quit for the day and not worry about FOMC news. It even gave those of us who use conservative limit orders a second chance to enter. Rarely is the market so kind 😂.

[ananthgtec]

Good day what is time frame charts u r using ?

[gonzo]

Can you write a book? You have so much knowledge, i would love to have a copy!

[AlexLopez-vtfl]

Thanks Thomas, was wondering where did you base your strategy from?

[Preventviolencewithaccuracy]

Another winning day today. Thanks again

[unpacify]

how are you replaying the candles so smoothly on NT without it printing like 5 candles? thats what happening to me. your replay is super clean and i would like your settings pleaseeee