Mark has a ton of useful content and now had created a paid course. Seems like a bargain (I am sure he will include some gems not available in his free videos) If anyone takes the course, please give feedback. Thanks https://price-action-trading.teachable.com/
For anyone not heavily into "price action, KISS trading", you should be. Suggest you watch several/many youtube videos to see which concepts are most often taught... they're likely mostly correct, and that would be a good place to start. A caution... disregard any mention of the value of "volume". All "volume considerations" are unreliable. At best it lags, at worst it will cause you to make some wrong decisions. After youtube videos, then perhaps take this guy's paid course... it's only $199. Good Luck!
Scataphagos, this is great advice you added here. I also, do not like looking at volume, it get in the way.
From my personal experience, I agree. It is challenging for me to look at the volume indicator as well as bars and decision making at the same time. The bars on the chart is more than enough for me, and my thinking.
You don't get paid for having your plays "in tune with volume".... you get paid for having your plays in tune with PRICE! (I've wondered... "So, you use volume as a variable to expose yourself to risk. Do you also use volume in consideration of your stop"? Rhetorical question, of course. You just place your stop at a price. Well, if volume isn't a consideration for your stop-out, why should it be a consideration for the initiation of your play? Another rhetorical question.)
Scataphagos, You right, I can't debate with something that makes sense. I did try a few a years a go to put volume indicator on my 5 minute chart. But here was the problem I had: When the price bar goes up, the volume bar goes up and then there were times when the volume bar goes up and the price bar goes down or maybe not up alot. Then I was thinking well, do I just buy when I see a big green volume bar? What do I do if the next volume bar is red? Man, why I do need this stupid volume indicator, the damn price bars clearly show green if going up and red is going down.? How much volume is enough to trigger an entry? Is 100, or 1000? Why is that volume bar smaller than that volume bar? I am wasting alot of time starring at volume indicator vs managing the trade. This volume indicator is clearly in my way of thinking and useless to me. It brings more questions than answers and its enough I struggle with pulling the trigger already. I don't need this crap, I just stick to the bars on the chart, they are obviously moving in real time, and obviously a big green or red bar, means strong buy or strong selling. Volume indicator, deleted.
Good for you. An anecdote.... Years ago I used MetaStock software... many times voted "Best Software" by trading magazines. They were promoting an upgraded version... paid upgrade, of course... and came to town for a seminar at a hotel to make their pitch. Must have been 80-100 attendees... all current users and all experienced traders. (MetaStock costs ~$1500, so it wasn't a seminar for noobs.) The presenter was polished and knew the lingo. Obviously had much trading experience. MetaStock had at that time around 130 "prepared" indicators which would load into RAM for you to choose, + had a "custom indicator" section where where you could massage whatever data and variables a gazillion ways if you wanted. (The user's manual was like 650 pages.) When he got to talking about the "indicator section", he made a semi-statement, semi-question... "If you use indicators, ONLY ONE, RIGHT?... BUT NOT VOLUME. Show of hands of those who agree". Nearly every hand went up. Interesting insight here... 1. KISS (Keep It Simple Stupid) 2. Indicators are NOT essential... but if you use them "only one at a time". 3. Volume considerations are detrimental to your success
You had to open that can of worms didn't you? You don't NEED anything, but if you are telling me that 100 shares/contracts traded at a price is the same as 10000 shares/contracts traded at a price, I disagree.