LIVE Scalping High Probability Setups - Price Action Rules

[@ChiScoot]

Those bar sizes gave me the jitters too, it was outside my risk appetite for sure. Cheers mate. Good trade.

[@caibaia]

These last few days I was only able to find a few good trades. Mostly had to sit on my hands but patience is worth it!

[@ankurrana1711]

Now days I love to sit like a emotional less Human

[@bjrnnorman8916]

You know what Jesse livermore says

[@caibaia]

@@bjrnnorman8916 who’s that?

[@TonyTradesLive]

nice video, thanks Thomas

[@spyguy4278]

Thanks Thomas! Ya crazy few days ripping up & down, like you showed lower number of contracts and adjust the risk/reward and you can still trade but it's scary - things are moving fast. Thanks for another year of awesome videos, the knowledge you share with us is priceless. Hope you have a great holidays.

[@CrimsonDemon311]

Thnk u Thomas i took the same trade,it was fast volatile day like when i try to take a setup it happens very fast to not let u enter

[@ChiScoot]

Hi mate, on 7:18 you mentioned a 2EL on that doji. I am a bit confused as that doji's high is below the trend bar before it. Can you please explain? Thanks mate.

[@ashvinbaldania]

How can you consider overshoot , even Trendline touched only one swing. Can we draw trendline with one touch?

[@vishupoojari]

What is the EMA length

[@ThomasWade]

21 EMA.

[@emanueledilella9443]

Hi, I recently watched a lot of your videos because i really want to learn price action and became a trader. You said price action works on every timeframe (as it should be - you gave some examples too). I was wondering if for a beginner like me it would be better to use higher timeframes instead of 1min chart. I'll explain better (sorry for my english, it's not my first language). I would really like to trade on 1 min chart but as I am still a beginner and I can't analyze price action so quickly. Since it should also work for daily timeframes I thought I'd print the latter and start working on these to learn and then move on to the faster ones. What do you think ?

[@drew.trades]

Just stick with the 2000 tick chart and trade simulated money until you're successful with that. Do not risk any of your real money until you have proven consistency with simulated money for an extended period of time. You WILL lose your money if you trade live right now. The most important thing is making sure that your trends and trades match Thomas' at the end of the day. It will take quite a long time to get to that point but you will get there if you stick with it. Best of luck!

[@Serene_dipiti]

He uses the 2000 tick chart rather than a time-based chart since the price action seems more symmetrical with greater detail. If you want to eventually trade on 1min/2000 ticks, then I would backtest with that timeframe but also look at slightly higher timeframes (16000ticks, 15min) to see how 1min/2000ticks moves within the bigger trends.

[@emanueledilella9443]

@@Serene_dipiti Thank you for the reply. I know price action is more smooth on tick chart but unfortunately I don't have access to them. Anyway, I'd try to learn using the the standard time chart. I was trying to find out how price action works today backtesting with the random bar function on tradingview. Sometimes the 1min chart is smooth while sometimes the 5 min is better but i think it depends on the stock, liquidity and more (yeah I use stocks instead of futures).

[@emanueledilella9443]

@@drew.trades Thank you! Like i said in another comment I don't have access to tick charts but this will not stop me. Actually I'm using money I made with random swing trading and I can afford to lose all my stake. I think psychological factor is very important and it would not be the same with paper trading. I don't want to lose all my money tho and that's why I was planning to use only 1000$ out of my 5000$ per trade and risk max 2% on high R/R stock.

[@SaleemFaisal-r9p]

Dear Sir kindly make video how to take trade on the basis of order book(Cumulative delta)

[@dustd9806]

Is there any special advantage of 2000 tic chart vs 5 mins?

[@drew.trades]

Yes. You can see the volume all in one chart by how many bars are printing and how fast they're printing. It also allows us to capitalize on momentum easier because bars ending on their highs/lows are more likely to continue in the same direction. This is why we use good signal bars as one of the main criteria to take a trade.

[@dustd9806]

@ Awesome, thank you!

[@rajeshpvasudev]

Can anyone tell is this works for swing trading ?

[@ThomasWade]

Yes it does but you need to adjust your Money Management.