The ONLY Beginner's Guide To Trading Traders NEED To KNOW

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Thomas Wade

Thomas Wade

Күн бұрын

The ONLY Beginner's Guide To Trading Traders NEED To KNOW
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.
0:00 Introduction To Trading
1:42 How To Approach The Market
4:15 Price Action EDGE On Price Chart
12:36 Why Focus On Price Action
13:31 Price Action Rules All Markets
14:12 Trading USD/JPY 5 Min
16:12 Trading ES 1 Min
17:22 Trading PG W
20:12 Trader's Mindset
21:35 How To Study Trading
22:38 How To Structure The Trading Plan
Price Action Rules
1) Trendline Rule
2) Don‘t Counter Trend Trade
3) Trading Range Rule
4) High Probability Setup Rule
5) Signal Bar Rule
The chart I trade
2000 tick chart
S&P 500 ES Futures
21 bar EMA
If you want more advanced Trading tips, strategies and trading community.
wadetradingacademy.com/
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Пікірлер: 259
@michaelf3653
@michaelf3653 Жыл бұрын
Excellent summary of what it means to be a trader. It's not about trying to predict what the market will do next, or trying to enter every little market move. It's about knowing what you're setups look like, where to look for them, and letting the market unfold without you until the situation is right.
@estevez1942
@estevez1942 Жыл бұрын
The year started profitably for me!, So far, my aggressive portfolio has returned almost +$470k trading on the exchange market.
@VanillaCherryBread
@VanillaCherryBread Жыл бұрын
Great! I am up 35% YTD…
@LiquidityOcelot
@LiquidityOcelot Жыл бұрын
Amazing results. But, what kind of perverted mind could’ve come up with all these confusing, twisted concepts. I can’t wrap my head around all of these!
@GlengoolieBlu
@GlengoolieBlu Жыл бұрын
‘Experience coupled with proper Risk management’ are the nuts and bolts of this industry I think.
@estevez1942
@estevez1942 Жыл бұрын
SO TRUE!! Newton once said "If I have seen further, it is by standing on the shoulders of giants." I work with a CFA and CFP; Christine Marie. Mila, her advice and comprehensive analysis has been responsible for making me good sums. Over the years, her thought process is a distinctive quality I’ve come to find valuable.
@LiquidityOcelot
@LiquidityOcelot Жыл бұрын
It must be a game changer to have someone with real market experience providing you with rational moves in this industry that make no sense.
@aadarshmishra5276
@aadarshmishra5276 Жыл бұрын
Getting Al Brooks Vibes here for sure... Great Video sir.
@Kaiyongi
@Kaiyongi 21 күн бұрын
Let me just post this comment here so that I can always come back and watch the wisdom being shared. Thank you for sharing such life changing information.
@ChompskyChompChomp
@ChompskyChompChomp Жыл бұрын
A lot of psychological nuggets in this video on top of a solid overview. Really enjoyed it! Thanks Thomas! Happy New Year!
@nicdav100
@nicdav100 Жыл бұрын
Wow, probably one of the best explanations and teaching I have watched. As a beginner I can take what I learned from this and just go and look at charts and see if I recognize what is being taught. Thanks Mr. Wade
@congphamthanh245
@congphamthanh245 Жыл бұрын
I haven't seen this kind of excelent video on KZbin for quite long time. No bullshit just got to the point.
@andresjimenez1495
@andresjimenez1495 Жыл бұрын
Hey Thomas, I want to thank you for creating these videos. It's crazy to think that when I discovered trading, I had no idea what I was doing. Indicators worked for a while, however, I was not consistent. I'm sure I can speak for a a lot of people. I stumbled upon your videos one day while trying to find "the best scalping strategy". BS. I am beyond grateful that you exist. Ever since watching your bar by bar by accident, I have completely changed my life around. I think it's funny that when I'm trading, I imagine I'm you! And, wow, what a change I have experienced. Really, thank you so much. You are changing lives. I'm sure of it.
@ThomasWade
@ThomasWade Жыл бұрын
Hi Andres, thank you for those words. I am glad you are finding value here. Funny enough I was the same way. Also started with indicators first but once I discovered price action, a complete game changer.
@TheCyberklutz
@TheCyberklutz 11 ай бұрын
No hype, realistic and practical. Really enjoy your content. One request, if possible - PLEASE slow down your narration and keep the jargon down to a minimum. Shotgunning coined terms detract from the value of your approach.
@beachbum8215
@beachbum8215 Жыл бұрын
Thomas, superb video. Thank you and Happy New Year.
@ronp1436
@ronp1436 Жыл бұрын
Great video! Tried to absorb as much as I could from it. Thank you
@Leroy510
@Leroy510 11 ай бұрын
Excellent video! Every single point you made during the section on the Trading Plan is something I have personally experienced myself. So spot on!
@janmeijer9774
@janmeijer9774 Жыл бұрын
Great lecture Thomas!! Thanks and all the best wishes for 2023!!
@asis19999
@asis19999 Жыл бұрын
One of the best video on price action and also very comprehensive, thankyou
@richardwaingold8514
@richardwaingold8514 Жыл бұрын
Best video you have done. Thank you for all your help.
@ShayneHammond
@ShayneHammond Жыл бұрын
Awesome video which demonstrates how big the mental game is which is often overlooked. Cheers once again Thomas.
@strobe227
@strobe227 Жыл бұрын
Great presentation. Thank you Thomas for sharing this.
@nvwealth
@nvwealth Жыл бұрын
Excellent summary, truely good job!
@dante075
@dante075 Жыл бұрын
I wish you all the best in new year, my brother! I have learned so much from you.
@marknz756
@marknz756 10 ай бұрын
I have watched and followed so many "gurus' but this is the first that has clearly explained the concept. I was watching this video just now as I was also trading Nasdaq mini. This exact set up was occurring off peak during the Tokyo session while I was watching this guide. The chart was instantly much clearer as I drew trend lines the same was as you were describing. I bagged $346USD. First time I actually felt confident in my entry. I added your 14 period EMA and saw it in a much clearer way than before. Only other thing I have on my chart is a TSR set at 40 which also adds clarity for me, otherwise, nothing else. I'm now subscribed and will watch all of your stuff. So cool - thank you man.
@ThomasWade
@ThomasWade 10 ай бұрын
Good job! I actually use 21 bar EMA. 14 is decent too but doesn't filter setups that need to pullback that well. Try looking into 21 bar EMA too.
@faisalmohammed3654
@faisalmohammed3654 Жыл бұрын
Thank you dear.
@subbuc926
@subbuc926 Жыл бұрын
Thanks for the Video. Great.
@yuliangiraldo4535
@yuliangiraldo4535 Жыл бұрын
Thank you so much to share your knowledge. GOD Bless you .
@Sagar-sy7yp
@Sagar-sy7yp 2 ай бұрын
Thanks man it cleared a lot of concepts i am new and i have been to a fase where indicators made me confused and made me paralyzed and thanks to you i have been experimenting with pure price action after watching your video and surprisingly it works its like you are communicating with the chart when your in the zone.
@mohshii6672
@mohshii6672 Жыл бұрын
Thank you for this and good luck too.
@erikeberhard8220
@erikeberhard8220 Жыл бұрын
Top notch contend , thanks keep on teaching …subscribed and going to watch all vids
@olarius650
@olarius650 Жыл бұрын
What a great video to start off the year 🚀..Happy New Year Thomas :)
@hayze7095
@hayze7095 Жыл бұрын
Very very good video Thomas It is exactly what i needed goin into the new year. Everything you said is 100% Thank you. Cheerz
@KathrineThompson
@KathrineThompson Жыл бұрын
It's strange how people talk about all the profits, they've been making through trading of bitcoin, while am here making huge loses. Please can Someone put me through on the right path or at least advise me on what strategy to follow.
@Garywinks
@Garywinks Жыл бұрын
Wow...Amazing to see another investor who trades with Mrs Mary Harris. I am currently on my 5th trade with her and my portfolio has grown tremendously.
@richardsonp.
@richardsonp. Жыл бұрын
You don't need to be shocked because I'm also a huge beneficiary of expert Mary Harris trading services . I have earned over $250,000 from her strategy.
@KathrineThompson
@KathrineThompson Жыл бұрын
This is impressive.
@KathrineThompson
@KathrineThompson Жыл бұрын
I think I need a financial adviser like yours. I have really lost a lot lately and won't want to loss more.
@KathrineThompson
@KathrineThompson Жыл бұрын
How can I reach her?
@richardwatts6167
@richardwatts6167 Жыл бұрын
basicly when you have a support and a resistance level you buy the dip up to resistance the up retrace on the sell to support but great infoon price action
@helli9977
@helli9977 Жыл бұрын
Thomas, you are doing a absolutely amazing job. I definitly like your Price Action trading approch. Thank you and take care 😀 + Greatings from switzerland.
@AakashTavandikar
@AakashTavandikar Жыл бұрын
thanks for the efforts you take to teach us. Watching a video on this channel after a year
@vishalnangare31
@vishalnangare31 Жыл бұрын
Thank you for this great content. ❣️🙏
@kiritsuchak5320
@kiritsuchak5320 Жыл бұрын
Superb, thanks
@thugpisty
@thugpisty Жыл бұрын
Thomas is king 👑 thx a lot bro , you are changing lifes here !
@zenoo514
@zenoo514 Жыл бұрын
Good Job Thomas!
@nadeemfarooq5372
@nadeemfarooq5372 Жыл бұрын
tHANX THOMAS i saw your channel late but it is great to learn from you. You r explaning so well thank you one again for sharing knowledge.
@jenjuni_
@jenjuni_ Жыл бұрын
So glad I found this channel
@bajafishin
@bajafishin Жыл бұрын
Thank you so much. This is one of the best trading videos that I ever watch. This would be the foundation of the price action trading for me. Thank you thank you for teaching.
@ThomasWade
@ThomasWade Жыл бұрын
🙏
@hienphung3860
@hienphung3860 7 ай бұрын
thanks very much
@s1nlimite
@s1nlimite 7 ай бұрын
Brother thank you very much, you really changed my life.
@28jery
@28jery Жыл бұрын
You are the Best .
@SITEAXCHANGE
@SITEAXCHANGE 7 ай бұрын
Thank u so much for this information❤❤
@Hanafimaslak-UK
@Hanafimaslak-UK Жыл бұрын
Great work
@crazedseeker
@crazedseeker Жыл бұрын
Thank you
@flexmasterscx1056
@flexmasterscx1056 Жыл бұрын
awesome video
@nabilettalbi4899
@nabilettalbi4899 Жыл бұрын
Thanks
@KuldeepRawat.
@KuldeepRawat. 10 ай бұрын
Your knowledge sharing is very helpful ❤❤❤ from india....
@gezy369
@gezy369 Жыл бұрын
Haha man, this first minute of the video, so accurate!
@jaypr719
@jaypr719 Жыл бұрын
Absolutely amazing video, Thomas. What a fantastic content to begin the year with. Happy New Year, and may this year be filled with prosperity and health to you and your loved ones! Take care
@Hedgehoncho
@Hedgehoncho 9 ай бұрын
Thomas, at 11:37 mark, you mentioned that downtrend needs to play out what are you looking for it to play out ? Thanks
@ThomasWade
@ThomasWade 8 ай бұрын
Play out means get new extreme, new low. Attempt for new low can also be considered enough.
@casualverse
@casualverse 4 ай бұрын
For signal Bar did you go over with Tier 1-4 is? i keep watching it again and missing it.
@jlab5056
@jlab5056 Жыл бұрын
Too much truth in your videos. thanks
@ericnico8266
@ericnico8266 Жыл бұрын
Good Job Thomas help understand what you mean by Second entries & Failed Second entries
@ThomasWade
@ThomasWade Жыл бұрын
I have two main videos about second entries. kzbin.info/www/bejne/hH_ddJidpNiLq5o&ab_channel=ThomasWade kzbin.info/www/bejne/faO1k4J_qcx_ncU&ab_channel=ThomasWade Failed second entries kzbin.info/www/bejne/qWPMp6t8hK-fZrc&ab_channel=ThomasWade kzbin.info/www/bejne/nYm1iaCuesiFrpY&ab_channel=ThomasWade
@tiji905
@tiji905 6 ай бұрын
Hello, I would like to ask if you think it is possible to use this staretegy for longer term trading. For example, after identifying the second entry long at 7:15, could we then continue to adjust our stop loss after seeing price rise and ride the devloping trend?
@ThomasWade
@ThomasWade 6 ай бұрын
You can but you need to adjust your money management. Also when trading more long term, you need to be buying lower and selling higher. As a scalper you can afford to enter late because you are looking for small scalp but long term you need to have some room.
@diogoteixeirac
@diogoteixeirac Жыл бұрын
Excellent class Thomas! Is it possible to perform the same trades, but with a higher reward x risk ratio, such as 2x1? Because I have noticed that some trades go much more than just a scalp.
@ThomasWade
@ThomasWade Жыл бұрын
Yes it is. Lot of traders are going for larger TP you just need be more careful. You cannot be so aggressive as you would be with smaller TP. You should be focusing on buying low, selling high at key entry points. Smaller TP allows for taking more aggressive entries.
@dmonk952
@dmonk952 Жыл бұрын
Hi I appreciate the video may I ask as I do not see it do you use L2 or purely the chart
@steve3222
@steve3222 Жыл бұрын
He only uses charts, not level 2.
@michaelscarn4133
@michaelscarn4133 8 ай бұрын
On trading ES1 Min, why would I take a long position on the 3rd 2EL, wouldn’t it trigger SL where it breaks the trend line ?
@devrishigupta6223
@devrishigupta6223 Жыл бұрын
Sir you should have 52.6 million subscriber. Just Amazing. Thanks a Lot. God Bless You Sir :)
@ThomasWade
@ThomasWade Жыл бұрын
@XpistolinX
@XpistolinX 2 ай бұрын
Do you have some video explaining basic concepts like breakouts, entry points, trendline, etc? I don't know what those are, or at least how to measure them
@ThomasWade
@ThomasWade 2 ай бұрын
In the beginner playlist, the first several videos cover basics.
@JB_Asc
@JB_Asc Жыл бұрын
Al Brooks v2.0 😁👍👍
@csj2500
@csj2500 7 ай бұрын
I am having difficulty to compare the first candle to the next candle for finding first entry shorts or longs, what I am finding difficult is that whether we have to see the top of the candle or bottom of the candle while counting longs and shorts?
@zaldotube
@zaldotube Жыл бұрын
hello thomas, i did not clearly understand the 1(one) indicator you mentioned at "play 12:35-40" on this vedio. what indicator is that please? 😊
@ThomasWade
@ThomasWade Жыл бұрын
21 bar exponential moving average. EMA
@Andrea_Notarianni
@Andrea_Notarianni Жыл бұрын
Hi thomas! INCREDIBLE video as always! I do not understand the concept of HL confirmation! can you help me understand? Have you already mentioned this in any video?
@ThomasWade
@ThomasWade Жыл бұрын
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.
@Andrea_Notarianni
@Andrea_Notarianni Жыл бұрын
@@ThomasWade Ok Thomas, clear explanation as always! I'll keep this kind of confirmation in mind! thank you!
@chrisz7083
@chrisz7083 5 ай бұрын
@ThomasWade In this video you are saying 2EL before the next candle is higher. I think I am missing how the 2nd entry is known and which one is the signal bar and what is the setup bar. I thought the 2ns entry had to have the next candle go higher and that is the bar you use to trigger your trade.
@jimbanning4046
@jimbanning4046 Жыл бұрын
Hello Thomas, witch videos best determine the actual candle reading, I remember viewing them but can’t find them now.first entry second entry. I need to refresh , rewatch candle fundamentals. Love your videos but there is much to take in. I’m getting better, had a red day so I need to refresh. Thanks so much for what you do. Would not be still doing this if not for you, so thanks again…Jim
@ThomasWade
@ThomasWade Жыл бұрын
Hello Jim, I would recommend going through the most popular videos in the beginner playlist. There is a video how to count entries and Two legged pullback explained. I would also recommend the only price action setup video. Overall you can go through the beginner playlist videos and see which one covers the topic you want to see.
@NicoSimonPrincely
@NicoSimonPrincely 11 ай бұрын
Indicators are great along with Price Action and SMC. Alone they don't work well.
@1Giovann1
@1Giovann1 5 ай бұрын
at 7:57 you mentioned that this candle is 2el but in the video of how to count the entries you explained the 2EL is it must broke 1 tick higher than the candle before it but here it doesn't tick, can you explain please. thank you for your work
@ThomasWade
@ThomasWade 5 ай бұрын
You don't need to have a trigger above previous bar. You want the 2EL signal bar itself to have break above ITS high.
@LaoufiKadda
@LaoufiKadda Жыл бұрын
thank you so much im just a bit confused about what it is a double trap ?
@ThomasWade
@ThomasWade Жыл бұрын
Double trap is when there is something wrong with the first 2nd entry you would normally take. For example it is far from the EMA, congested, trendline in play etc. But the bias is still in favour of the 2nd entry. That means failed 2nd entry is a trap because it is against the trend. So double trap is basically 3rd entry with trend but needs to close with the EMA.
@markwhutchens
@markwhutchens 3 ай бұрын
Now that we have programatic trading does this change the role of human psychology in this type of trading? Any advice most welcome.
@ThomasWade
@ThomasWade 3 ай бұрын
Not really. Think about it. Programs are still written and coded by humans. They are setting the parameters to it.
@madsgudmansen7093
@madsgudmansen7093 Жыл бұрын
Thank you Thomas
@ThomasWade
@ThomasWade Жыл бұрын
Tick is the lowest increment in the Futures. Quarter of the point.
@chukwuemekaekelaka5573
@chukwuemekaekelaka5573 11 ай бұрын
@@ThomasWade so for a forex trader what's the ideal sl pip in a 3min chart ...more grace Sir
@sugarresin
@sugarresin 11 ай бұрын
Watched a few of your videos, I am a beginner really, I have been paper trading on and off for about a year, but decided to take it more seriously, so these types of videos are really helpful. Looking forward to hitting the markets tomorrow to see if I can spot some of these set ups. I think for now I'll just stick to longs. Also -- did you have a video regarding how to use different time frames as part of your analysis? As how do you take into consideration two time frames showing two different types of momentum? So if the 15 minute is showing a bullish momentum, but the half hour or hour is showing a bearish momentum, how would you handle that? Is it only relative to the time frame you are trading on?
@ThomasWade
@ThomasWade 11 ай бұрын
When starting out I recommend focusing on mastering one timeframe. You can watch higher timeframe but be careful because it can confuse you. Especially as a scalper, you don't really need higher timeframes, you are interested in small move that you can catch on the main chart.
@user-mz4bv3xg7h
@user-mz4bv3xg7h Жыл бұрын
5:48 could you help me understand why did go you go long? Why is it less probable that the market reverses and hit the lower resistance?
@ThomasWade
@ThomasWade Жыл бұрын
Because the downtrend played out, followed by a very strong push above the EMA, EMA holding which is confirming buyers in the market and the bullish spike, trend needs a new high. Since the structure overall was range, we were bouncing off the lows. You would possibly think about prices heading lower if EMA held during the pullback. It didn't.
@mr.random8447
@mr.random8447 10 күн бұрын
Hindsight 20/20 it seems. Try showing examples where you draw the trend lines on only early data. Some of the trend lines you drew, you had no way of knowing until way later as the single peak of the trend was later in the day.
@ThomasWade
@ThomasWade 10 күн бұрын
Drawing trendlines is a skill. It may seem like you cannot find them but you can. There are rules how to look for trendlines. Go to my live trading playlist and see how I trade live.
@godwinadjei3514
@godwinadjei3514 Ай бұрын
Please what time firm are you using for the strategy
@ThomasWade
@ThomasWade Ай бұрын
2000 tick chart.
@ourtechie2158
@ourtechie2158 3 ай бұрын
I feel like I could learn to do this. It's a lot to get me head around right now. Can anyone recommend a platform to learn and practice on? BTW, you have excellent videos and explanations. No rubbish promises. Thank you :)
@srisabariraja3876
@srisabariraja3876 3 ай бұрын
Al brooks book's
@ThomasWade
@ThomasWade 3 ай бұрын
I use Ninjatrader platform. But there are other alternatives as well.
@dre6289
@dre6289 Жыл бұрын
Some of those bars are bigger than a 2pt stop. When you’re putting your stop 1 tick below the signal bar are you making your stop larger than 2 pts? Or are you entering in the middle of the bar to make your 2pt stop go below the signal bar?
@ThomasWade
@ThomasWade Жыл бұрын
I am making my SL bigger than two points. I use limit orders but not as deep where I risk missing the setup.
@dre6289
@dre6289 Жыл бұрын
@@ThomasWade thanks for the reply. I’m assuming you skip bars that are too wide. Must be rough on the R factor
@peterlenk742
@peterlenk742 Жыл бұрын
Hey Thomas will you ever do a live video showing the key entry points etc?
@ThomasWade
@ThomasWade Жыл бұрын
I have a playlist with recordings of my live session.
@heliosabbot838
@heliosabbot838 Жыл бұрын
Thanks Thomas! I'm glad to have found your videos. I've been trying to trade cryptocurrencies for over a year. I would be very interested in your opinion of whether or not this Market is tradable under its current conditions? Bitcoin, ethereum and xrp in particular. So far, my analysis is that these markets are not adhering to normal price action and would be very difficult to trade under current market conditions. I would very much appreciate your opinion in this regard.
@ThomasWade
@ThomasWade Жыл бұрын
I checked daily BTC and rules work there nicely. Personally I would not trade crypto because it is not regulated, you got so many volitalile price spikes. It is all over the place.
@heliosabbot838
@heliosabbot838 Жыл бұрын
@@ThomasWade thank you sir :-). Speaks to my observation and concern. BTC and crypto price conforms to price action rules inconsistently and unpredictably. I've never traded conventional markets.. but can do so with Prime xbt. I will definitely consider that. Your analysis is invaluable :-)
@lampkin9287
@lampkin9287 Жыл бұрын
This is good, but I noticed that on your trend lines you set a line and not a range…so you had no cushion and got stopped out!
@asis19999
@asis19999 Жыл бұрын
Hello Thomas, can we apply PA for trading in index or stock options
@ThomasWade
@ThomasWade Жыл бұрын
Yes you can, price action is universal. You just have to adjust your money management to each market and whether you like scalping or swing trading. Every market has its own personality and tendencies, this is why I like to stick to ES because I know it very well.
@asis19999
@asis19999 Жыл бұрын
@@ThomasWade Thankyou Thomas always, I will also focus on money management according to the market
@mallikarjunreddy1611
@mallikarjunreddy1611 11 ай бұрын
If I am a scalper and trading SPY, how do we understand bias pre-market?
@ThomasWade
@ThomasWade 11 ай бұрын
What timeframe you are trading?
@ibrarshah7041
@ibrarshah7041 Жыл бұрын
Thomas will u recommend this strategies for gbpusd 1mint time frame please reply?
@ThomasWade
@ThomasWade Жыл бұрын
1-5 min timeframes are good. Personally I am not a fan of forex but you can see price action still working well there. Especially if you trade New York session.
@JaspreetSingh-yv2vm
@JaspreetSingh-yv2vm 11 ай бұрын
Which timefreame and EMA to use?
@ThomasWade
@ThomasWade 11 ай бұрын
I trade 2000 tick chart. Similar to 1 minute. 1-5 min are good timeframes. 21 bar EMA on all timeframes.
@fbkp0018
@fbkp0018 Жыл бұрын
hello from Brasil. please enable automatic youtube subtitles in the video.
@ThomasWade
@ThomasWade Жыл бұрын
Hi, I thought they were on but they weren't. Thank you for the heads up. Now they should be working.
@yashgoel5315
@yashgoel5315 Жыл бұрын
Please help me with this at 7:22 2EL how it was 2EL as the green candle never broke the high of prev. red candle ?
@ThomasWade
@ThomasWade Жыл бұрын
Hi, it is not important for the green bar to break the high of the previous bar. What is important is that the green bar(signal bar for 2EL) gets the trigger above its high. So we look for break above the signal bar. The signal bar alone doesn't need to break above the prior bar. Hope that makes sense.
@yashgoel5315
@yashgoel5315 Жыл бұрын
@@ThomasWade Hey thanks for the reply, but i am not 100 clear with you answer. Can we say for 2EL the candle bar should be green and it will not matter if it does not break the high of prev. Candle. Inshort for 2EL we only need green bar? Your response will be appreciated.
@ThomasWade
@ThomasWade Жыл бұрын
@@yashgoel5315 We want to buy only above bullish bar, but technically 2EL may trigger even above bearish bar. It doesn't matter if the bar for 2EL triggers above previous bar high. Important is the signal bar having break above. In beginner playlist I have a video about how to count entries. It should clear things up.
@JH231995
@JH231995 Жыл бұрын
Hi Thom, On what time frame are you going to use to identify you are focus only long or short? Please advise.
@ThomasWade
@ThomasWade Жыл бұрын
I trade 2000 tick chart. Similar to 1 minute chart.
@JH231995
@JH231995 Жыл бұрын
@@ThomasWade Would it work to 3 mins and 5 mins chart?
@ThomasWade
@ThomasWade Жыл бұрын
@@JH231995 Of course. Price action is universal.
@JH231995
@JH231995 Жыл бұрын
@@ThomasWade Thank you for your response. Excellent applications.
@guzt7774
@guzt7774 Жыл бұрын
Sir, can i use this stategy on crypto market?
@ThomasWade
@ThomasWade Жыл бұрын
I would not recommend trading crypto. It is not regulated, the exchanges are not regulated, too many volatile price spikes etc. There are safer and better instruments.
@kobbyscratch5799
@kobbyscratch5799 Жыл бұрын
​@@ThomasWadecan you kindly list them?
@ThomasWade
@ThomasWade Жыл бұрын
@@kobbyscratch5799 Any stock that is liquid enough. Futures ES, NQ, CL for example
@ps25yt
@ps25yt Жыл бұрын
Hi Thomas Can you please tell me for 5 mins timeframe which ema should I use 5ema or 9ema?
@ps25yt
@ps25yt Жыл бұрын
Bdw your content is amazing and provides great value to trader like us who are still learning so thank you so much for that 😊
@ThomasWade
@ThomasWade Жыл бұрын
21 bar EMA for all timeframes.
@snehag8922
@snehag8922 10 ай бұрын
Have u released any book where u have documented all the ur video slide if yes please let us know
@ThomasWade
@ThomasWade 10 ай бұрын
Unfortunately I haven't documented no book.
@Tehjahe8
@Tehjahe8 8 ай бұрын
Can anyone tell me timeframe 2000 thick chart? 5 mnt/15 or 30?
@ThomasWade
@ThomasWade 8 ай бұрын
2000 tick chart. Similar to 1 minute. PA is universal though.
@VileStail
@VileStail Жыл бұрын
Just to clarify for myself, the 2EL bar would be a signal bar. So we would not enter a position from that candle, we'd have to wait for the next candle (trigger candle) to take out the signal bar's top before entering? Thanks
@ThomasWade
@ThomasWade Жыл бұрын
Correct. Signal bar just signals possible 2EL. For this setup to trigger we need to see a break higher.
@VileStail
@VileStail Жыл бұрын
@@ThomasWade A follow up question, if I may. How do you know it's a signal bar before the trigger bar prints? Does it simply have to be a bullish looking bar?
@ThomasWade
@ThomasWade Жыл бұрын
@@VileStail Signal bar is the lowest point in the swing when buying and highest point in the swing when selling. Since you already had first entry that failed, you are just monitoring when the second entry will trigger. It doesn't have to be bullish bar, sometimes signal bar for 2EL is bearish bar.
@NamCasmTrades
@NamCasmTrades Жыл бұрын
Which timeframe do you use these setups? Is it 21 EMA?
@ThomasWade
@ThomasWade Жыл бұрын
21 bar EMA, I use 2000 tick chart. Similar to one minute.
@chrismiller1985
@chrismiller1985 2 ай бұрын
Do you have a video on how to trade hl and lh trades?
@ThomasWade
@ThomasWade 2 ай бұрын
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.
@chrismiller1985
@chrismiller1985 2 ай бұрын
Thanks for the comprehensive answer!
@jalenfleming5762
@jalenfleming5762 Жыл бұрын
Hey Thomas. What exactly is a high low setup? I see you use it a lot but I don't know exactly what it is or what it looks like. Thank you!
@jalenfleming5762
@jalenfleming5762 Жыл бұрын
Also, after a break of a channel, is it a good idea to place a trade to catch a move on the probable new extreme before reversal or no?
@ThomasWade
@ThomasWade Жыл бұрын
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.
@mauriceamaraggi8098
@mauriceamaraggi8098 Жыл бұрын
At 7.11 you say it is a second entry long but I am confused; we are not going above the precedent bar.
@ThomasWade
@ThomasWade Жыл бұрын
2EL signal bar doesn't have to close higher than the prior bar. What is important is the trigger above the signal bar for 2EL. That is all what we care about and where the count is in effect.
@TaxMentors
@TaxMentors Жыл бұрын
What is the time frame you are using for intraday trading ?
@ivolynx
@ivolynx Жыл бұрын
2000 tick chart.
@flexmasterscx1056
@flexmasterscx1056 Жыл бұрын
2000 tick chart
@foreman4900
@foreman4900 11 ай бұрын
Are you looking at the daily charts ? And what candles are you looking at? The 5min ? The 1hr? Sorry for the questions but I’m new Thank you for your videos
@ThomasWade
@ThomasWade 11 ай бұрын
I trade 2000 tick chart. Similar to 1 min. 1-5 min are good charts for scalping.
@foreman4900
@foreman4900 11 ай бұрын
Thank you!
@preyeidoniboye4896
@preyeidoniboye4896 Жыл бұрын
Thomas Wade nice videos, but is it possible that you slow down with your explanations, a bit too fast for me. lol
@sassysilver4451
@sassysilver4451 4 ай бұрын
What indicator did you say? 20 EMA?
@ThomasWade
@ThomasWade 4 ай бұрын
21 bar EMA.
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