This is gold. Thank you for all the great content. I've been studying and paper trading for almost a year. I mark up my charts and then watch your videos to compare. It's helped me to gain confidence in my analysis.
For those of you who looked at the GC example, I've found in my back testing that the 500 tick chart is similar to the 5 minute chart. It reduces the clutter and there were some really good setups today. They took a bit longer to setup but I'm ok with that. Great video Thomas.
Interesting video bud. I've been looking at the CL 500t chart over the last week. It looks good. Just trading the ES is hard going lately, been luck to get a few trades a week. Defiantly worth looking for a second chart to trade. I already use the NQ 1500t chart as an anchor chart. The ES an the NQ pretty much follow each other. So when i am looking at a trade on the ES i have a quick glance on the NQ and it acts as like a second opinion. Not sure why the ES is so short of trades lately, you've got to adapt to the change in conditions. Thanks for an interesting video Thomas! 👍
Why do all youtubers explain only Emini 500 chart while I have personally seen that the charts of Emini and Bitcoin are very different. The price action depends on how many people are trading on that chart. your videos are great ❤
Because ES S&P 500 is the most traded instrument by the professionals. It tracks the entire US stock market and it is very liquid. So it is really one of the best and cleanest instruments one can start trading.
Haha glad it answered questions for you. For me it just created a whole lot more! I think this was maybe a bit too advanced for me. Will need to rewatch it a few hundred times.
Hi Thomas! Looking the section "Hoy to find proper money management", your parameters about ATR set in ticks or in points, for example, when you say 2.12 to 3 points of atr value must be an 8 ticks bar, the value 2.12 to 3 points was generated by an ATR set into 21 length, isn't it?
Yes, price action is universal. But when you are trading higher timeframes, you may wait a long time for a setup. You can still use overall price action behaviour for higher timeframes.
Hi Thomas! I am trying to project (or think) your parameters in terms of bitcoin futures volatility, on a 1 minute chart this gives me an atr of 20 points, on a 3 minute chart 50 points, do you think your parameters could be proportionally projected in terms of atr values, i.e. if you say, an atr value of 3 points implies an 8 tick bar, then, an atr value of 20 points could imply a 53 point bar (20/3*8)? Do you think it could be directly proportional?
You obviously need to lower the tick chart little so you get more setups but I don't trade overnight so I cannot say from top of my head. Use the same rules I talked about in this video. Try for pre market something that is faster but not too fast to produce too many trades or fakeouts.
@@ThomasWade if this strategy works well on Futures then everyone should Try it with futures. But the main problem is that Legit prop firms doesn't allow futures Instruments & for Personal capital, we need a lot of capital to trade with futures. Thanks for your reply
Thomas, instead of scalping, I'm currently trying to target 5-10 point (20-40 tick) moves (R:R~2:1) on the ES. Seems logical to me that around a 4000 tick chart might be more optimal for that, in order to be somewhat less distracted by the very small moves. What do you think?
Its good when market is moving fast. Also taking such big targets, you might need to trade higher timeframes or simply pick certain types of trades. FBOs etc.. Buying low and selling high. You cannot wait too much for confirmations.
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This is gold. Thank you for all the great content. I've been studying and paper trading for almost a year. I mark up my charts and then watch your videos to compare. It's helped me to gain confidence in my analysis.
I really like how clear your rules are👍👏👏
For those of you who looked at the GC example, I've found in my back testing that the 500 tick chart is similar to the 5 minute chart. It reduces the clutter and there were some really good setups today. They took a bit longer to setup but I'm ok with that. Great video Thomas.
love it Thomas, just encounter your vide a few days ago. love how the vid is quick to the point.
This was helpful in soo many ways! thank you very much Thomas!
Thomas I passed my combine. Thank you for your knowledge.
Interesting video bud. I've been looking at the CL 500t chart over the last week. It looks good. Just trading the ES is hard going lately, been luck to get a few trades a week. Defiantly worth looking for a second chart to trade. I already use the NQ 1500t chart as an anchor chart. The ES an the NQ pretty much follow each other. So when i am looking at a trade on the ES i have a quick glance on the NQ and it acts as like a second opinion. Not sure why the ES is so short of trades lately, you've got to adapt to the change in conditions. Thanks for an interesting video Thomas! 👍
Why do all youtubers explain only Emini 500 chart while I have personally seen that the charts of Emini and Bitcoin are very different. The price action depends on how many people are trading on that chart.
your videos are great ❤
Because ES S&P 500 is the most traded instrument by the professionals. It tracks the entire US stock market and it is very liquid. So it is really one of the best and cleanest instruments one can start trading.
Free Palestina 🇵🇸
The biger gift for all cumunity very very thanks for your mentoring ❤❤❤❤
This answered so many of my questions - great stuff!
Haha glad it answered questions for you. For me it just created a whole lot more! I think this was maybe a bit too advanced for me. Will need to rewatch it a few hundred times.
Thanks Thomas! On the days that ES is slow very choppy it's good to know how to look for other instruments to trade.
Thanks, Thomas!
Thank you, very helpful to me. been trying to trade the instrument from my country because it moves very similar to ES.
日本にはどんなPrice ActionのUA-camrやBlogがありますか？
知らないですね。日本のトレーダーでPAを使ってる人も聞いたことがないです。@@Basurian2022
@@Basurian2022 聞いたことないですね。日経平均先物を取引してる人の中にはいるかもしれませんが。
Thank you Thomas
Great video!
Great video man thanks
Great video Thomas❤. I have a doubt that what is the corresponding time frame chart for 2000 tick chart in Indian markets like nifty 50 instrument
Thanks for sharing! Is the 950 tick chart similar to the 1 minute on MES? Thanks again.
950 MES is quite similar to 2k ES which is quite similar to 1 min. So it should.
You can test it by yourself. Plot 950 MES and 1 min and compare.
Thanks Thomas!
Awesome Video Thanks
Hi Thomas! Looking the section "Hoy to find proper money management", your parameters about ATR set in ticks or in points, for example, when you say 2.12 to 3 points of atr value must be an 8 ticks bar, the value 2.12 to 3 points was generated by an ATR set into 21 length, isn't it?
Period is 21 correct. Like the EMA.
How can I understand tickchart and set it
is this high probability set up rule can be use for swing traders? im analyze from 1 day chart
Yes, price action is universal. But when you are trading higher timeframes, you may wait a long time for a setup.
You can still use overall price action behaviour for higher timeframes.
@@ThomasWade How about the EMA, still EMA21 for Daily Chart or 4 hr chart?
@@uusz96 21 EMA for all timeframes, price action is universal.
what time frame should I use in cryptp market?
Hi Thomas! I am trying to project (or think) your parameters in terms of bitcoin futures volatility, on a 1 minute chart this gives me an atr of 20 points, on a 3 minute chart 50 points, do you think your parameters could be proportionally projected in terms of atr values, i.e. if you say, an atr value of 3 points implies an 8 tick bar, then, an atr value of 20 points could imply a 53 point bar (20/3*8)? Do you think it could be directly proportional?
Hi Mate, This system still works ok with a time based chart? Cheers and great stuff!
Correct. 1-5 min are good for scalping.
Got confused in the start because I thought a tick was a price move, the Y axis, not time, the x axis.
What would you suggest for someone who is looking to trade ES or NQ but only has a few hours in the morning to trade. 3-7am
You obviously need to lower the tick chart little so you get more setups but I don't trade overnight so I cannot say from top of my head. Use the same rules I talked about in this video. Try for pre market something that is faster but not too fast to produce too many trades or fakeouts.
❤
Can I just use the 1minute chart instead?
Yes you can.
Can i try it for forex???
Yes you can although I am not a fan of forex. Futures are so much better.
@@ThomasWade if this strategy works well on Futures then everyone should Try it with futures. But the main problem is that Legit prop firms doesn't allow futures Instruments & for Personal capital, we need a lot of capital to trade with futures. Thanks for your reply
Thank you Thomas. This was extremely helpful!
Thomas, instead of scalping, I'm currently trying to target 5-10 point (20-40 tick) moves (R:R~2:1) on the ES. Seems logical to me that around a 4000 tick chart might be more optimal for that, in order to be somewhat less distracted by the very small moves. What do you think?
Its good when market is moving fast. Also taking such big targets, you might need to trade higher timeframes or simply pick certain types of trades. FBOs etc.. Buying low and selling high. You cannot wait too much for confirmations.
are you a student of al brooks?
Not sure about Al Brooks but Mack (PATS) for sure.
@@Felale I believe he's mentioned Mack in some of his earlier videos.
I studied Al Brooks but very early, now my style is more similar to Mack Pats.
@@ThomasWade thanks for the information might look into mack Pats after al brooks once I finish the course