Price Action Trading For Beginners Part 1: How to Count Legs

Two Legged Pullback Day Trading Live with the best Price Action Scalping Strategy Trading Setup.
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Hi PAT Fam

This is Part 1 of a series on teaching the basics of Price Action Trading. This video will go over how to count legs. Counting legs is a fundamental part in price action trading where all other strategies and setups rely.

Price Action Trading is a system of trading that uses Pure Price Action. Price action simply means the behavior of the price of the stock. In this case, we are able to visualize the price action (behavior of the price) with candle bars. In Price Action Trading, we observe how the price is behaving, and using that information to gain profits. No magical indicators, no secret dark pool readings, just pure price action. This particular strategy we will be scalping the ES(MES) for 1 point plus a runner.

This is not trading advice. All content/information provided in this clip is purely educational in nature. I am not a financial advisor and any information provided is for educational purposes only. Risk Disclosure
Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

Hypothetical Performance Disclosure
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets Last updated June 13, 2019 in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.

[HollowiiMarz]

Finally! Took me forever to find a source that broke down the definition of legs. Thanks bro!

[rh]

For the first time I've understood how to count legs. Hope you will do some live trades so that we can get a better understanding of the actual trades. Much appreciated!!

[peterchin]

Oh my have eventually found a channel that explains IN DETAILS how to count legs. A big thank you!!!

[byebyemoney]

thanks everyone for the 30k views! hope these videos have been helpful

[shahabhashemi]

Couldn't be more clear. Great Teacher Thanks

[rodneykoh]

Helped me understand the concept better. Great work! Keep it coming. Subscribed to your channel.

[TPrisoners]

Great explanation. Concise and clear. Thanks.

[pjdmwt]

Thank you for all of your great effort put into this video. Keep up the great work. I do have a question about legs. How do you count inside and outside candles? Where can we learn more about legs specifics?

[Millio__reallio]

Great video, how do you treat an engulfing candle? Is it just seen as a continuation of the current trend? thanks

[nishekher]

is this according to the brooks technique

[diegoriv]

Can u teach me, how to change so fast the colour of the text?

[achyutbhattarai]

Omg you are amazing!! Pls continue to make videos like this

[thegoldenboy]

Also in 1:50 why you used the little red candle and not the green candle that also broke the previous candle high?

[rend.]

Hi byebyemoney quick question. @ 4:16 where you draw the first down leg how do you now from which candle the line or leg starts? Or are we just looking for a down or up trend ? Basically what are we to look for first to realize the first leg (red 0)? Appreciate your time.

[kidpoker]

can you count legs with heiken ashi candles

[varimas]

How do you continue counting if the current bar is neither higher or lower than the previous bar? When the whole current bar is inside the prior bar?

[Chinesechang]

hi, where do I start counting legs -- why did you start counting legs starting from that part of price on the daily?!

[mtwmat]

Thanks for the great material. If the pivot low at 8:39 is equal to the previous pivot low, does it reset the count?

[marco]

congrats for the great material. Try just to improve audio qualiy.

[kidpoker]

What I don't get on the very first down leg, why did you start it that green candle? There were green candles further back on that initial downtrend you could have started from?