1. What is the difference between the Course and the content on TSR website?
On the TSR website, I write about diverse topics relating to short-term technical trading. Mainly, I review common trading strategies and concepts with a price action perspective.
In the Day Trading with Price Action Course, you will find my personal trading framework including the way I find trends, patterns, and S/R to trade. It is all explained in great detail with many chart examples.
2. Are there any pre-requisite trading knowledge for this course?
In the course, I start from basic principles before building up to more complex ideas. Thus, there is no strict pre-requisite knowledge for taking this course.
However, if you are completely new to trading, you may wish to get acquainted with basic trading jargon by reading the articles listed in this price action trading guide.
To benefit from this course, an open mind and perseverance is more important than any requisite trading knowledge.
3. Does this course teach me how to scalp for small profits?
The trading method in the course is not a scalping method. (I define scalping as trades with a reward-to-risk ratio of less than 1.)
The trading strategy taught in the course finds retracements in intraday trends. When the market is not clearly trending, we stay out of the market.
4. Does this trading framework work for swing trading with daily charts?
It might work because:
Most of the concepts in the framework are valid regardless of the time-frame. Hence, experienced swing traders should be fine adapting the framework for swing trading.
The section on reviewing market bias, including determining swings, drawing trendlines and momentum analysis, is equally helpful for both intraday and swing traders.
You can find the price patterns in the course on both intraday and swing trading time-frames. For instance, this article has examples of Anti-Climax and Congestion Zones (patterns from the course) applied to daily charts. Even the trend lines are drawn according to the rules in the course.
It might not work because:
Some sections of the course are completely not relevant for swing traders. (Around 10% of the course.) Examples include the discussion on selecting the intraday time-frame to trade and sections on specific risks of day trading.
As expected, the chart examples in the course are drawn from intraday trading time-frames.
Risks specific to swing trading, like gaps and placement of stop-losses, are not discussed. Hence, the course is suitable for new swing traders only if used to supplement other educational materials.
5. Does it work on activity-based charts? (For e.g. Tick, Volume, Range, Renko)
The examples in the course are based on time charts. Tick and Volume charts produces similar price patterns. Hence, the trading framework can be applied to Tick and Volume charts as well.
However, bar types that are forced to break off after a certain price range (e.g. Range and Renko) are fundamentally different in their appearance. Thus, the course methods do not work well with these bar types.
6. Do you use technical analysis, fundamental analysis, or a mix of both?
I use technical analysis. I do not give any weight to fundamentals or news, except to refrain from trading just before important releases.
7. Can your trading strategy be automated?
My trading approach is discretionary. The strategies are not meant for automated trading.
8. Is this trading framework applicable for all markets?
Yes, provided that the market is liquid and volatile enough for day trading. You can adapt the same trading framework for other markets like stocks and forex.
Note that some tools/patterns might work better in certain markets. Such market-specific nuances are not the focus of this course.
Market-specific nuances change over time. Hence, I believe that market-specific nuances should be acquired through direct trading experience and observation. Accordingly, this course focuses on trading concepts and is not market-specific.
However, the chart examples in the course come from the market I have traded which is mainly the futures markets, including index equity futures (ES/NQ/FDAX), currency futures (6E/6A/6J), and commodity futures (CL).
9. I am a forex trader. Is this course useful for me?
The focus is on price action trading, which is applicable to all markets.
However, if you are looking for information specific to forex trading, like how to interpret fundamental data for forex trading, correlations among pairs and how does the forex market work, you will not find it here.
10. Could your course be applied to binary options as well?
I do not trade binary options and cannot offer a definite answer.
But the course is applicable for the underlying markets of binary options.
The best way to find an answer is to observe if general technical analysis works for the binary options markets you are trading. If it does, the course will be helpful as well.
Also, I highly recommend that you should check out exchange-listed instruments like stocks, futures, or options. They are better regulated, and you can find more resources on how to trade them.
Course Books and Trading Toolkit
1. Is the Course presented entirely from within the 4 PDFs? Are there any video modules?
The Course is entirely presented in the 4 PDF books. There are no video modules.
I do not include videos in my course, at least for now, because I do not learn well from videos.
I want to present my trading framework in a medium that I am comfortable with to ensure a high-quality end product. I have learned all my trading knowledge from reading and am confident of producing a high-quality course in writing.
Also, I find reading books to be an active learning process compared to watching videos.
Nonetheless, I assure you that the charts included in the Course Books are well-annotated, and the trading concepts are explained in great detail. You can download a free chapter here to take a look for yourself.
2. What does the Toolkit include?
The Toolkit is a set of templates to help you implement the trading framework and ideas mentioned in the Course Books.
It includes the following sections.
- Checklist for day trading – lays down the typical steps to guide your journey towards becoming a full-time day trader
- Trading rules and guidelines – a sample derived from the trading framework in the course to help you set up your own rules and guidelines
- Risk management card – a template to help you manage the business risk of your trading activities
- Analysis matrix – a summary of things to look out for when you are trading and a template to record your observations
- Trade records – a template to record details of your trade for analysis
- Monte Carlo simulator – a simple simulation tool that draws from your trade records to simulate draw-down for position sizing purposes
Course Indicator Suite
1. What are the Course Indicators for?
They mark out five price patterns taught in the Course to help you with your learning and trading.
They also implement two trading concepts from the course. One helps to determine if a time frame is suitable for price action analysis; the other one helps you to quickly assess if a trade has positive expectancy.
2. Can you provide screenshots of the Course Indicators in action?
You can refer to these links for screenshots of the Course Indicators:
- Price Zones and Patterns (TradingView)
- Congestion Zones and Pressure Zones
- Anti-Climax and Deceleration Patterns
- The 3 Practical Uses of Congestion (You can find Congestion Zones in all charts in this article.)
- 5 Skills All Price Action Traders Must Have (Pressure Zones in the last chart)
3. Can I improve my trading with the Course Books only? Or must I use the Indicators?
You can pick up the methods with the Course Books only. You do not need the Indicators to understand the Course Books.
The Indicators are optional. The main aim of the Indicators is to help you pick up the concepts and price patterns in the course more efficiently.
4. Can I buy the Indicators only?
You can but I highly discourage it. This is because their underlying concepts are explained in detail in the Course Books.
5. What is the difference between the Indicator Suite on different platforms (NinjaTrader, MetaTrader, TradingView)?
They implement the same concepts and patterns on different platforms.
Hence, it boils down to which platform is more suitable for your trading and market analysis.
Course Indicators - TradingView
What is TradingView?
TradingView is a powerful cloud-based charting platform that works with major web browsers. It is fast becoming one of my favorite platforms for charting.
It offers access to many markets around the world including:
The variety of markets it offers is impressive. View the full list of markets at the bottom of this page.
It is also compatible with a number of brokers for trading. To see the available brokers for your region, click here to launch a chart and click the “Trading Panel” tab below the chart.
Do I need a paid TradingView subscription to use the indicators?
TradingView offers both free and paid plans. You can check out their differences here.
One limitation of the free plan is that it allows you to place at most three indicators on your chart.
We’ve consolidated the indicator suite into three indicators so that even users on the free plan can employ the whole indicator suite.
However, you should check if TradingView provides the data for the markets you trade. (Scroll to the bottom of this page for details.)
I advise you to check out the platform using the free plan first.
If you like it and wish to upgrade, please consider using our affiliate link to sign up. You will not pay more, and the commissions we get go towards maintaining and improving the indicators.
1. Do you offer any support for this Course?
This is a self-study course. No extra support should be expected.
However, the truth is, I usually reply if I receive emails with questions about the course content, especially those that are well-phrased and thoughtful.
(As I receive many emails daily, I cannot promise a reply or a timeline for doing so. I do read all emails eventually, and try to reply them if possible.)
Nonetheless, providing feedback on your trading performance (i.e. personal mentoring) is strictly beyond the scope.
2. Do you offer personal mentoring?
My aim for this course is to enable aspiring traders to become independent and capable traders, and not to trap them into paying me more for personal mentoring. I would be happiest if the course is able to help you become successful, to the extent that you do not need mentoring (from me or any one else).
3. Do you offer trading signals?
No. I must emphasize that I am not offering guaranteed profits without hard work.
I am offering a quality education that brings you closer to becoming an independent trader.
1. What software do I need for the PDF Course Books?
You can read the PDF Course Books online in your browser.
The PDF Course Books can also be downloaded onto your personal devices. In that case, you can read them with standard PDF readers on desktop/tablet/mobile. The official Adobe Reader works well.
(Some PDF readers might not support the links within the Course Books.)
2. What software do I need for the Toolkit?
The Toolkit is contained within a macro-enabled Excel file. You will need Microsoft Excel 2007 and above.
3. What software do I need for the Course Indicators?
If you select the TradingView Indicator Suite, you need a modern internet browser to access the TradingView website.
If you select the NinjaTrader Indicator Suite, you’ll need the NinjaTrader Platform. (Both NT7 and NT8 are supported.)
Click here to download NinjaTrader for free.
The free license allows you to trade in simulation mode and provides an excellent learning platform.
As NinjaTrader is our partner, you can get a demo account with free futures data.
If you select the MetaTrader Indicator Suite, you’ll need MetaTrader 4. Many brokers (especially forex brokers) offer this platform to their clients for free.
4. What if I do not use NinjaTrader, TradingView, or MetaTrader 4?
The Indicator Suite is optional, and you can certainly apply the trading framework in the Course Books without it.
Moreover, the logic of each indicator is explained clearly in the Course Books, allowing you to code them in your own charting platform if you wish.
5. Are the indicators available for other platforms? (for e.g. thinkorswim, TradeStation)
Right now, the Indicator Suite is only available for NinjaTrader, TradingView, and MetaTrader 4.
If there is great demand for a specific platform, we will try to develop them in the future. Please let me have your feedback for this.
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