Inside the Mind of a Price Action Trader

[@misbahnafiu5680]

Nice one there bro, but please which time frame are you using for the setup

[@whynow4306]

Hello Thomas, how do you enter your limit orders? And how you set up your TP and especially SL fast and precisely? Becuse market moves fast etc, do you use some hotkey etc settings?

[@Jess-rj3qd]

At 8:53 you mentioned a BOPB of that small downtrend. This also appears to be overshoot but you did not label as such. Are BOPB and OS treated the same way?

[@ThomasWade]

BOPB is when it comes to the key level. OS is when it comes to channel

[@sachabarber2934]

Hey Thomas thanks for the videos this week. Even in this holiday period you put some time aside for us and i think alot of us appreciate that 🙏 If you have a moment could you tell me if your paid academy group has any open slots? (Saw on a comment abt a month back you said it was closed for now just wondering if that changed). Have a nice rest and evening 👊🏽

[@Jess-rj3qd]

I can't speak for Thomas or the academy, but I just joined a few weeks ago with no problem. Go for it if you can! The premium content has answered so many questions that don't get covered in the YT videos.

[@ThomasWade]

Hello, yes the Academy is open. First make sure to watch free youtube videos, to see if you like this price action trading style. If you do, then you can consider joining.

[@furyaf]

Can you do a video about this strategy on gold

[@ThomasWade]

Check my twitter. I sometimes share gold. You still use the very same rules on all markets.

[@furyaf]

@ ty 🫶🏻

[@davidruth1]

​ @anynamez7048 Stay with it Bro, you have to be willing to put in the screen time to develop an eye for the structure. IMHO the best thing you can do is mark the crap out of your futures chart EVERY day. Go back at the end of the day and draw/recheck ALL of the PA structure, once you have the channels drawn go back to the start of the day and mark only the resets of the highs and then the lows with a colored dot, then find ALL of the 2ES and F2E's in the uptrends and down trends, mark the BEST high probability trades with an arrow. Study these through the week. On Sunday, wipe your chart and start over. Also, I would recommend ONLY trading in a clear trend, don't try to trade in a correction or congestion. I would also wait to trade after a break or reversal until you get the fundamentals of finding the 2nd entries in a trend, those are the gravy and are easier to spot, this will build your confidence. It took me FOREVER to get comfortable finding the resets on both the long side and short side. You can do it if you stay with it! Finally, watch ALL of the content on this channel, you can also watch MAC's stuff here: www.youtube.com/@PATsTrading, but I think Thomas is a better teacher.

[@champions212]

I got chopped up all day , I’m just no seeing it . I don’t know what to do at this point .

[@anynamez7048]

Its pretty easy man, but you have to completely obsess over price action and completely be thinking about it 24/7.

[@royalhumbler2767]

It's normal if you have less than 2 or 3 years of experience . It's a skill ,if you think you're going to play guitar like Jimmy Hendrix after 1 year of training, you're kidding yourself. Little advice: NEVER enter a trade if you're not confident about the CONTEXT and where the market wants to go. This is the difference between a gambler and a trader : the patience to wait for the directional bias and context to be clear.

[@ThomasWade]

@@royalhumbler2767 Perfectly said. Its ok struggle the first year. We all did. It takes time to lean this skill.

[@whynow4306]

You just answered to your own question. If you are not seeing it do not enter.. sit on your hands. There are other 200 days to trade in a year..

[@CrimsonDemon311]

Why we shouldnt trade when the bar has a gap between its body nd the ema? Those types of bars are pinbars nd its mostly good

[@royalhumbler2767]

Sometime price tend to fill the gap before going where you thought it was going.

[@tylerborg8000]

I'm ready to give up on prop firms. Finally passed an eval and then today just blew the account after paying the activation fee! If I don't totally give up on futures, I'm gonna have to trade with a sim for awhile before funding my own account.

[@ThomasWade]

Weren't you trading position size that is too big? You need to trade small and slowly build the account.

[@tylerborg8000]

@@ThomasWade I usually trade 1 contract only but today for some reason I chose to trade 3.

[@joeyd4]

Prop firms are designed for you to trade this way. I’ve done it on multiple passed accounts. I’ve been on this eval for 3 months now. Slow and steady brother you can do this

[@robertosalas6090]

Risk managment...if u blow ur acc in 1 day, u are not doing it

[@tylerborg8000]

@@robertosalas6090 what? Your sentence is incomplete

[@themagician6310]

3:05 hey Thomas wouldn’t this set up be considered a double trap? It’s a 3ES breaking back below EMA?

[@royalhumbler2767]

It is , but no good signal bar.

[@t3rcx]

It's more of a visual 2ES than a DT or 3ES. This is because the "technical 2ES" occurs with an inside bar and then correction continues, so it's better to consider it more like a single leg.

[@royalhumbler2767]

@@t3rcx Often a DT looks like a visual 2E. A double trap is just a 2E on a higuer timeframe

[@t3rcx]

@royalhumbler2767 Correct, but it is more useful to think of this setup as a visual 2E compared to a DT because you can still identify a DT formation that could happen after. It doesn't really matter that much, I just think this setup is more correctly categorized as a visual 2E compared to DT due to the effect of the inside bar on the technical 2E.

[@bhatParvaiz2391]

Shoud i darwa trendline in option chart means Periumum chart or index

[@DederikRobbertse]

Thanks

[@rebellousa]

Just curious! How much money did you make in 2024?

[@stevensteven3417]

The money he made on youtube by making useless videos on analysing past data.

[@anynamez7048]

@@stevensteven3417 Huh? You do realize that after a while you can see the patterns form out LIVE? 🤣🤣 And this becomes super easy.

[@royalhumbler2767]

@@stevensteven3417 Lol it's a pity that some people can't distinguish between quality content and fake gurus. Good luck in your search for the magic strategy

[@Jess-rj3qd]

@@anynamez7048 He probably just started looking at PA and is totally confused (which is normal) and also rather bitter.

[@bhatParvaiz2391]

Thomas plz plz give me reply... I am from india 🇮🇳 kashmir i trade indian nifty 50 ... I analysis index chart...index chart give me signal when bar close 21 ema. But when i see option chart there is no bar close 21 ema... What will i do plz plz reply

[@AshrafAlam-l4o]

Hi bro, I’m from India as well. You need to analyse and trade the options chart separately from the index chart as the bars don’t align between them.

[@stevensteven3417]

Ok so you look back in time and it makes everything sense doesnt it. Learn how our brain works to seek out patterns and why at the same time its useless if you trade live. All information in this video is useless basically.

[@ThomasWade]

Have you even watched the video? I literally recorded how I trade live and how we can predict it live.

[@ravimehra8860]

​@@ThomasWadeYou are right sir, ❤

[@cryptocpa1194]

Scalping can work but it is extremely difficult, everything looks clear in hindsight. The much better way to trade is off measured moves. Once price action develops a bias then you just wait for measured move (MM) corrections to show up and enter at the MM with the original bias. I do a 1:1 risk/reward ratio. So my stop does not go right above the signal bar. I just give my entry an equal amount of room as my target. In fact, signal bar does not matter with MM trading. You are just looking for prices to start to reverse around the MM level. Thomas takes a small one for a scalp at the beginning of the video. There is another larger corrective MM around the 8:00 of the video. Thomas points it out but he doesn't trade off it. This is a good spot to enter. It's a big picture 2nd entry short off the break of the large DT. This is where I would enter and set about a 15-20 point target. Even if you are very good at 4-8 tick scalping, it will take you weeks to make up this trade. I also mainly trade the NQ because the points you can typically capture on a MM trade are much greater than ES. Most times an ES MM trade has a good target of about 5 points. On NQ you can safely take 30 points on most MM trades, which is like 12 ES points. Once I moved on from scalping and started trading this way I started making tons but I warn you if you are used to scalping it will take you awhile to get there mentally. Most scalpers will crap their pants at the thought of taking on $500+ of risk for one contract. These are the only trades I take now. Much easier and less arbitrary than trying to read the chart like a scalper. You still need to have some understanding of chart context though. If a MM has poor context, it can fail on you.