Learn To Day Trading Price Action With Live Trade Example 5-14-13

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This is our price action chart lesson for Tuesday 5-14-13, along with a trade example showing how we scalp and use runners to day trade.


David Thomas says:

thanks for taking time to share

PATsTrading says:

If you can only win 5 or 6 out of 10 times on a 4 tick scalp, and you take
a two point loss on the 4 or 5 losers every time, then the best you can
hope for is break even. If you can master price action though, you can
seriously learn to get it right 7, 8 and even 9 times out of 10. Once you
can do that, even if no runners, you can still make a profit. I’m often far
too conservative on my runners, but I hate to give any money back. If you
can swing trade runners, the pot sweetens considerably!

Livia Hyppolito says:

What are you trading? Apologies i can’t see it in the chart. Thanks!

Mary Olsen says:

Thanks, Mack

Patrick Schnurbusch says:

I have thought long and hard about my comment in regards to Risk Reward Vs.
Odds. After spending many hours going through the PATS website and
listening to Macks videos I think the proper thing to do would be to test
his rules. My plan is to trade this system in real time SIM for the next 3
months and track my results.

pat mich says:

I took this same trade today in market replay and I was thrilled to see
that you did it as a live trade. It tells me I just might have an inkling
about what I am doing.

Rick Welles says:

Thanks Mack! never apologize for the video being too long!! It’s just more
learning time for us 🙂

Patrick Schnurbusch says:

The debate of Risk Reward Vs. Odds will rage on till the end of time. My
take on it is: Seasoned traders like Mack can get away with taking bigger
stops. At this stage of my trading career the profit on my first target
will exceed my stop by 2 tics. For example ATM set at 10 profit 8 stop.

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