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Mack says that the addition of indicators other than the 21 bar EMA will not improve your success with PAT. It just adds complexity and confusion. Keep it simple but still effective. All you need to trade the ES is a 2000 tick chart with a 21 EMA. Then draw in the trend and channel lines to define the Support/Resistance (S/R) structure. All trades will be located at some KEY S/R level.
Steve
Mack teaches that your maximum entry risky should be no more than 8 ticks. However, you place your protective stop 2 ticks above/below the signal bar (usually the prior pivot level). If this placement is greater than 8 ticks, then try using a LIMIT order to get a better entry level. If you cannot get a max risk of 8 ticks with this proper placement of the protective stop and the LIMIT order idea, then skip the trade. Mack says that you need at least 8 ticks of clearance to assure you do not get stopped out prematurely. If you learn and follow Mack's trading rules, you should be able to achieve 85% or higher reliability. This will offset your concern that your entry risk is greater than the first exit target reward. Finally, roughly half of the trades will have a runner with the second exit (if you trade 2 contracts or more) so your bottom line is nicely effected by your runners. If you learn and follow Mack's rules, you should have no problem making your daily profit goal. But, once again, you must follow his rules or "all bets are off"
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Your posts read like an advertisement for this vendor. Some would think you are working for the vendor to promote them. This is not allowed on futures.io (formerly BMT).
If this is not the case, I suggest not using the promotional language in your future posts as it is not helping your reputation, nor the vendors.
Hi to all, I am improving now for few weeks Mack PAT traiding ES 2000tick chart. I am plannig to open live account, which broker you think is better to have for this type of day traiding. Max. 5 trades per day, max. 50 per month. Please if you can recommend me some company for this day traiding strategy, I am from Czech republic if it is important. And also I am using ninjatrader. Thanks a lot to all for any advice.
Is there anyone here who trades the same way as Mack shows in his video who is consistently profitable? And I'm not talking about a week or two but for months. I get the feeling that he only shows his winning trades and have to wonder if he is truly profitable or just doing this to sell the manual. It just seems that most of his trendlines had to be drawn after the fact because of all the "overshoots" and such.
I have watched his videos and looked at his course, but I chose Al Brooks course over Mack's. I do watch his daily recaps on the ES. I thought the same thing as you that he may hid his losses. I don't really care either way, if you go with a system you need to tweak it to fit you, or find one that fits you the best. Trading is highly personal.
Hello all. I've recently joined the ranks of "the profitable traders". This is in large part due to the teachings of Mack from PAT, and others like Al Brooks, Linda Raschke and Vince Virgil. I have made slight adjustments in what I look …
I am trading in Sim the ES where the basis of my trading is Mack's price action trading teachings. He has a website and a youtube channel where he goes over the day. He lets you know where the good trades were and …
Thanks for the links!
Yeah whenever he shows the trades in the videos (after the fact) he makes it seem like it's so obvious and that anyone should be able to see these trades but then when he sees a possible setup playing out as he's recording the video its always "oh it wouldn't surprise me if it went higher but it also wouldn't surprise me if we come back down and test the lows. We'll just have to wait and see" Not as easy when its happening in real time.
But I suggest looking at the charts everyday after the close and highlighting the entries, yes it is in hindsight. But it helps teach you what the outcome will look like. I did this on the NQ and ES for each day all the way back to 2008. I believe that this has helped me to spot patterns and signals as they are forming.
Once you do this you will start to see the setups forming when you are watching it live. I can spot an MTR almost an hour before it forms. Once I spot it, if it doesn't form the way I though sometimes it will be a failed MTR. Either way, I am prepared on how I need to trade almost an hour ahead of time. Depending on how they form I can spot wedges within a few mins. I also have been pretty good at determining a range from a trend.
So take the time to review the charts and build the patterns into your mind's muscle memory. Then when you are trading live you will be surprised how easily it is to spot patterns as they form.
This is the common journal for futures.io (formerly BMT) Elite Members who are currently trading or interested in learning more about the PATs Price Action Trading method as taught by Mack.
Why another new PATs journal now ?
The intent of this common …
When you say you looked at Mack's course, do you mean you bought it? Aside from the use of the 2,000 tick chart (vs. the 5 minute chart) and I believe his use of stops and scalping out of trades while keeping a runner, do you know of any other major differences in how Mack trades vs. Brooks? Are there specific entry bar signals that they use?
I have read quite a bit of Brooks stuff (not his books or course) and quite a bit of Mack' stuff (blog articles and videos on the youtube channel) and am having trouble discerning their different trading styles.