Bar-By-Bar Price Action Scalping Technique

[@SaturnReturns]

I started trading this strategy about 10 months ago and I binged watched all your videos to learn it. Can't thank you enough for teaching me this strategy as my trading has improved ten fold.

[@zenoo514]

Thanks Thomas , what i like about your videos is that you say with honesty what you were really thinking in real time. Like at 4:55, it helps traders with less experience to put things into perspective and tell themselves that it's normal not to always understand the context or know where the price is going. Being honest with yourself and patient are key to trading success.

[@blitsz9482]

I always seem to get caught in an extended correction, I took that 2EL at 8:41 chart time but you didn’t even consider it because you drew your trend line tighter and got break and new high with the uptrend before but I drew my trend line a bit wider so I was expecting a new high and got caught. Valuable lesson you always teach me Thomas thank you.

[@whostan]

I did exactly the same thing as you. I took it expecting a new high as well.

[@ThomasWade]

Problem with that setup is that 1EL already push so high up, generated strong move, the correction started to be really sideways at this point. I can see your point though.

[@TheIronTrader]

Thank you for showing and admitting to the 2EL at 1220. I took the same trade and was super questioning myself and what I saw. Helps a ton!!!!

[@brianchirino161]

I am confused about this 2EL , it never triggered? doesnt that hammer canddle that he label 2EL need to close above the previous candle? Thank you in advance for your time, i am trying to learn as well.

[@TheIronTrader]

@@brianchirino161 The hammer candle is the signal candle, the trigger is the next candle that broke above the hammer, which unfortunately it only triggered by like two ticks and then when right back down. Here is how i traded it, which ended in a loss kzbin.info/www/bejne/mX6ym2Vpr7qFfsk

[@brianchirino161]

@@TheIronTrader Oh okay thats what I thought I just did not realize that was the signal candle. The actual trigger was the following candle as I suspected. Thank you for explaining and the video!

[@Blackbay_Trading]

Thanks Thomas, I really appreciate that you also comment on the setups that are good, but for some reason fail. Took that 2EL too, really helps to hear that it was overall a good setup to take a chance on 🙂

[@bobmarslek15]

Thanks, Thomas!

[@bobmarslek15]

@tapmybiotowsapmenow1 Touch this, Scammer!

[@hayze7095]

Thanks Thomas Cheerz

[@Archer441]

Thank you Thomas, unfortunately got hit on the same trade. O-1 today. But still happy with the trade, just not the outcome. Always tomorrow

[@cryptocpa1194]

10:40 I'm glad for your commentary here for traders in training. Frustrating to watch Mack's videos and see him just ignore entries like this in the chart lesson that I'm sure many people took. If this trade wins then he marks it. After years of watching his videos and coming into an understanding of PA I find almost no value in them. He never tells you what trades he took and never marks a losing trade. About 3 days ago he was fumbling around trying to explain why a perfectly good 2ES staring him dead in the face failed. Thanks TW.

[@S2GUnit]

Honestly, fuck Mack. HUGE respect to T Wade for showing losing trades & actually showing live clips of a loss. I don't doubt Mack knows how to trade & I appreciate the time he has taken to show what he knows but my friends & I stopped watching him years ago for those exact same reasons. We are now at 4+ years experience (3 of us) & we decided to have a laugh & watch one of his reviews lately. We ended up closing the video within a few minutes because of that nonsense. In 10+ years of videos, he has shown only a few losers. He never goes over trades that a lot of people likely got caught in. never explains tricky situations & I feel for people trying to watch his videos in the last 2 years. He's gotten way worse in our opinion. He'll make up rules to say why he marks a trade but in real time, there are many, many times you could never take a trade that he marks because a new high is in place, or you'd be at the end of a 2nd leg but if it works, his bias will mark it.

[@S2GUnit]

Perfect example of Mack's hindsight bias BS. Take your example from 10:40 in this current video. Now go to look at the review for 071823 that he posted today. Go to 9 minutes in that video. Same scenario, strong bull trend with a break & expecting a new high. Yesterdays trade doesn't work so he ignores it (at least Wade said you'd take a loss on it). Then the video for 071823, he marks what is actually a 4th test because he ignores the triple test because you get stopped out by 1 tick. He marks the small low risk 4th test bar.

[@dunghokhangoc7560]

Many thanks

[@Elcaptrading]

Hi Thomas thanks so much for creating these videos. Quick question: Should I use 2000 tick for MES as well?? Thanks!

[@ThomasWade]

No because that would make it slower. For MES you should start somewhere around 950 MES to make it similar to 2000 ES. Start at 950 MES and tweak it around a bit to make it match 2k ES.

[@pawantandon1235]

Hello Thomas. One question. Breakouts generally fail. Does it happen with a stock in a wedge range also?

[@ThomasWade]

Yes it does.

[@andreibonteanu3655]

Around 8:40 am there’s a 2EL as part of the BOPB. Can you shed some light on why that’s not a high probability setup?

[@TheIronTrader]

Price action rules, Uptrend had already played out with the break and a new high. Not looking for longs or shorts, waiting for market to show you direction.

[@ThomasWade]

As trader said. Uptrend played out, structure too rangy so we cannot buy this high when price action may correct. You can see that 2EL feels way too apart from the 1EL, starting to feel like stronger correction down.

[@jg9042]

I'm not following the Higher low and Lower High markings. They seem to be very important as confirmations of a trend. Do you go into detail on HL/LH concepts in any of your previous videos? Thanks as always!

[@ThomasWade]

Hi, Higher lows and lower highs are confirmation setups. Meaning they have to confirm something. 1) Second entry 2) Failed breakout 3) Failed second entry 4) Support and resistance bounce HL and LH are additional confirmations. Sometimes when we are not sure about the second entry or failed breakout we can wait for the market to confirm the momentum and enter after confirmation. HL and LH should form close to EMA preferably, once they move too far we generally tend to wait unless the trend is healthy and strong. Signal bars should be good. I would say that we don't look for HL LH at first, only when second entry for example is not forming so great and it looks sketchy, we can wait and see if HL LH will confirm it and give better entry.

[@tunguyen3523]

Dear Thomas, what is mean "candle trigger" in 2ES, 2EL, HL, LH, F2ES, F2EL? This trigger candle need to be high with previous candle in 2EL (for example)? Tkank you!

[@ThomasWade]

The signal bar itself needs to have break above its high or low, that is the trigger. Signal bar doesn't have to break above or below the previous bar.

[@tunguyen3523]

@@ThomasWade Love, thank Thomas!

[@lyleh5833]

I am new to watching your channel. Thanks for the amazing education. Can I ask what trading platform you are using in your videos?

[@ThomasWade]

I use Ninjatrader.

[@patrickr7197]

Great video. It would be useful though if you made a video tutorial outlining each price action rule. That way when you discuss them like this as commentary on the days price movements, it's a bit more clear what you are referring to, and how these rules are meant to be applied.

[@chilidog73]

m.kzbin.info/www/bejne/ipbKd2avjs-hpMk&pp=iAQB

[@ThomasWade]

Hi, I recommend going through the beginner playlist and focusing on the several most popular videos on my channel. They go more in depth when it comes to price action rules.

[@chilidog73]

Does the 2nd leg in a pullback need to pullback further than the first leg for it to be valid. Just curious because that looks like a 2 legged pullback at the beginning of the video but you said there was no entry.

[@ThomasWade]

No, the legs don't have to be same or the second longer. Which setup are you talking about?

[@chilidog73]

@@ThomasWade the one at the beginning where you drew the down arrows. Maybe I'm just looking at it wrong.

[@moviedownloaderguide6470]

Hello Thomas, I have a question for you I am intraday trader in forex You use 2000 tick chart, how much I use in forex please reply me.

[@ams4225]

Hi again thomas dear. I need your friendly advice. Im feeling that im knocking on the door of sucsses to become a better trader but i have one big problem- im revenge trading after i have a losing trade. Im reading the price action correctly, but if i have a loss i become someone that thinking from the emotion mindset and not from the probability mind. Do you have any advice how i can get rid off this bad habbit? Do you at first also struggling in a revenge trading? Thanks a lot for your answer. Appriciate this ❤

[@spyguy4278]

Same - he gives some good tips here about walking away & resetting. Another thing is by the point of that failed trade there's been a few hits, so you're still up on the day and just be thankful it was a small loss. The worst is when you start the day with a loser, and you're staring at that negative daily return waiting for the next setup to hopefully get on the right side.

[@SaturnReturns]

You need to switch your mindset to thinking in probabilities and not living and dying by each trade. I recommend looking into Mark Douglas' books and seminars. He did a lot of work on trading psychology.