by eric-pal » Wed Aug 16, 2023 10:26 am
This is an excellent question and goes to the heart of what makes this training and course different.
Trading is a skillset that needs to be built, however an individual who decides to be "self taught" has neither a roadmap or understanding of what that skillset is or what needs to be developed. WOW ->>>> THAT REALLY MAKES IT MUCH MORE DIFFICULT AND LESS OBTAINABLE. Why, because of unconscious incompetence. If one doesn't know what to study, or what makes a difference, especially in this trading field, does one think they are going to just stumble upon it? Most will say no, but in truth it is yes. Which then begins the search of discords and forums and . . . . Endless searching without closure.
If you note how we are measuring success in evaluating the market, it is very different too. It isn't searching for trades but the evaluation of how the system is implemented and the ability to match against some of the system selections (specific Mack marked trades). Not all of them of course because seeing probability is a skillset that needs to be developed. This builds an understanding of how the market moves, reasonable places to execute, and skills of observation (also beware of magnetic move fakeouts please). None of these things relate to $$$$$, but skillset.
So, emphasis is placed on finding good criteria within the market for opportunity. The analysis which you present makes the case that one is finding the right trades. That IS THE SKILL THAT NEEDS TO BE DEVELOPED. What you will find, as Strange has outlined, is that when you are operating with how the market works, in the right places, there is good opportunity. This is what Mack marks, and we are selective in criteria to build the appropriate skill as quickly as possible, so one can then expand after seeing some critical aspects (most of the time these aspects are things the developing trader never considered as they begin to search for patterns - secret patterns - things that no one else will be able to figure out and find - - - -NONSENSE). Tick charts offer a specific benefit.
By working with 1/2 ATR as the minimum scalp size, you can adjust sizing to meet market volatility, and maintain 75%. But this isn't the only aspect one may use. 1:1 becomes very possible, and thus reducing to approx 55%, if the characteristics of the market are appropriate - not stale slow markets, not tight trading ranges, but areas where runners may occur or trending markets.
This then gets into the larger aspect. With good consistency, which the drills of the course strive to build, runner management, especially in trending markets, becomes very helpful. Identifying areas where this may happen become useful. The market ebbs and flows, and is a language. The course builds the skill of language development through each module.
Hopefully helpful and good trades to you!
This is an excellent question and goes to the heart of what makes this training and course different.
Trading is a skillset that needs to be built, however an individual who decides to be "self taught" has neither a roadmap or understanding of what that skillset is or what needs to be developed. WOW ->>>> THAT REALLY MAKES IT MUCH MORE DIFFICULT AND LESS OBTAINABLE. Why, because of unconscious incompetence. If one doesn't know what to study, or what makes a difference, especially in this trading field, does one think they are going to just stumble upon it? Most will say no, but in truth it is yes. Which then begins the search of discords and forums and . . . . Endless searching without closure.
If you note how we are measuring success in evaluating the market, it is very different too. It isn't searching for trades but the evaluation of how the system is implemented and the ability to match against some of the system selections (specific Mack marked trades). Not all of them of course because seeing probability is a skillset that needs to be developed. This builds an understanding of how the market moves, reasonable places to execute, and skills of observation (also beware of magnetic move fakeouts please). None of these things relate to $$$$$, but skillset.
So, emphasis is placed on finding good criteria within the market for opportunity. The analysis which you present makes the case that one is finding the right trades. That IS THE SKILL THAT NEEDS TO BE DEVELOPED. What you will find, as Strange has outlined, is that when you are operating with how the market works, in the right places, there is good opportunity. This is what Mack marks, and we are selective in criteria to build the appropriate skill as quickly as possible, so one can then expand after seeing some critical aspects (most of the time these aspects are things the developing trader never considered as they begin to search for patterns - secret patterns - things that no one else will be able to figure out and find - - - -NONSENSE). Tick charts offer a specific benefit.
By working with 1/2 ATR as the minimum scalp size, you can adjust sizing to meet market volatility, and maintain 75%. But this isn't the only aspect one may use. 1:1 becomes very possible, and thus reducing to approx 55%, if the characteristics of the market are appropriate - not stale slow markets, not tight trading ranges, but areas where runners may occur or trending markets.
This then gets into the larger aspect. With good consistency, which the drills of the course strive to build, runner management, especially in trending markets, becomes very helpful. Identifying areas where this may happen become useful. The market ebbs and flows, and is a language. The course builds the skill of language development through each module.
Hopefully helpful and good trades to you!