Book on Price Action?

Discussion in 'Forex' started by Coner1980, Aug 18, 2020.

  1. toon

    toon

    Mack's strategies are mainly scalps, right?

     
    #21     Aug 20, 2020
  2. drm7

    drm7

    The standard trade setup is scalp + runner. (Scalp is 1 ES point). You can adjust the ratio of scalp to runner to suit your risk tolerance. You can also decide whether to move stop to breakeven after scalp is hit. He has an article on price targets on his site which helps with runner exits. (Mainly looking for measured moves.)
     
    #22     Aug 20, 2020
    toon likes this.
  3. toon

    toon

    If I remember correctly, Mack uses tick charts. Are you using tick charts for his strategies? How is your direct experience with his strategies?

     
    #23     Aug 20, 2020
  4. drm7

    drm7

    He prefers a 2000 tick chart, although in recent videos he has been comparing to 3000 volume and others. I am still going through the process of getting comfortable with the method, so no live results to report. The method looks pretty solid, but there is a lot under the surface. It takes some practice.
     
    #24     Aug 20, 2020
  5. VPhantom

    VPhantom

    Just FYI it's from 2012. It's a modern book. ;)
     
    #25     Aug 22, 2020
  6. Tradex

    Tradex

    Oops, you are right, the author was born in 1973.
     
    #26     Aug 22, 2020
  7. Best post in the thread so far - yet it didn't seem to gather any attention.

    Doing this diligently - the trader will also notice how a lot of the stuff in those 'price action' books are cherry picked and doesn't always measure up in real life trading.
     
    #27     Aug 22, 2020
  8. Yes, of course just reading a book cannot benefit you. You should understand the principles and learn to apply them in real life.
     
    #28     Nov 26, 2020
    murray t turtle likes this.
  9. %%
    True;
    + try a public or private library/or both.
    Master Swing Trader, by A Farley/has some good charts.But you can skip about 95% of his words/LOL.:caution::caution::caution::caution::caution::caution::caution:
     
    #29     Nov 27, 2020
  10. so many Top rating books are available in online but i think any bookish knowledge can be useless if there is no regular practice.
     
    #30     Dec 2, 2020