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Hi. I have a few clarifications to make, so looking forward to your guidance.
1. Al seems to disregard previous day's major lows while marking the swing setups. For example, he is marking swing sell below 7, even when the price had not yet broken below previous day's major low(bottom of strong move up). He keeps marking sell below 9 and 10 too while he keeps mentioning a MM down from previous day and OOM in his BPA report. So, my question is while identifying swing setups, are major highs and lows, MM targets other magnets not important?
2. He keeps trying to find swing and scalp buy setups even after bar 17 broke below previous day's low(which was start of that huge swing up move and therefore clearly a very major low for me at least). I can understand that scalp setups do not look for big up moves and therefore might even be reasonable(is it though with low probability?). My question is, me being a beginner, would it have been okay if I was looking to only sell and not trying to buy at all(say near the top of TR) say after bar 33 or 68 or 76? Or am I missing something and the LL MTR on 27 and HL MTR on 44 were good setups even for beginners like me?
3. I sold below 18 on bar 25 as 24 was a H2 buy setup on SPX index(not on ES as I see today - I can't trade on ES during live markets as TradingView provides delayed data for ES). I scaled in higher below 34 and covered my shorts on 43 suspecting that the markets were entering TR. Is there something wrong here?
Thanks in advance.
Thank you David, for responding.
I have rarely seen any divergence between BTC and BPA markups, unless they have been typos. I have seen a few typos made on BPA markups.
Sorry, but I actually have when not only the timings of a trade are different but the direction of the trade itself are opposite in bias.
Talking about Oct. 4th, the sell is not below B24 but below B25. On BTC is looks like the sell is marked below 24 because of the spacing or the lack of spacing between bars but if you look closely at the chart, you will see the sell is marked below B25.
There are two markings, below bar 24L and below bar 25L both. At least, that is what it looks to me and that is what seems reasonable at my current understanding limitations. I have marked them with arrows and you can refer them if you want to.
This whole thing brings up to the issue that I raised regarding BLE4 and BRE4 and Always-In trading. I have been spending a lot of time learning this new approach to trading and trade management but has had to watch a lot of webinars and connect the dots by myself.
Do let us know if you have figured it out and you are up for sharing what you've learnt. 🙂
It is a long topic. But mostly remember that BTC shows trades for a swing trader who is trading Always-In and BPA markups are for a trader with a scalper's mentality and approach to trading. So a trader with a scalper's mentality will not short below 25 since we might be in a trading range since 14 and if so we are at the bottom of a possible trading range and therefore it is bad to short 25 for a scalp.
My advice to you is to first find out for yourself what kind of a trading style you have. And based on your trading style pick one of those approaching to trading and study and practice it intensely. At the beginning don't try to reconcile them for you will get confused. Just understand that there are different approaches to trading.
This is where my primary problem is. I can't settle for just one. If I know there could be 2 tools at my disposal or there are 2 ways to use a weapon, I would always prefer to learn both of them and use them at my discretion. It may sound brazen, impudent, audacious and overtly ambitious but I have set my sights on reaching the level Al is at currently or will be even further in the future. I can't understand, when I am setting a target, why would I settle for anything below the best. That is what Al is to me and that's the reason he has my utmost respect.
Coming back to your point, I think the market price action should dictate what approach would I use while trading. I can't survive swing trading in a TR and I can't survive scalping in a swing move and I have to adapt. I think that is pretty much a fit with my personality as well.
So, my current plan is keep pushing forward in understanding both BPA and BTC setups. I am trying my best to do that and hopefully, my queries would rise to a level soon when they would be worth the time for those who answer them as well.
There are two markings, below bar 24L and below bar 25L both. At least, that is what it looks to me and that is what seems reasonable at my current understanding limitations. I have marked them with arrows and you can refer them if you want to.
Those two markings are either for going short below B25 or B26 or going short below B25 or the neckline of the Double Top Bear Flag which just below the 24L
This is where my primary problem is. I can't settle for just one. If I know there could be 2 tools at my disposal or there are 2 ways to use a weapon, I would always prefer to learn both of them and use them at my discretion. It may sound brazen, impudent, audacious and overtly ambitious but I have set my sights on reaching the level Al is at currently or will be even further in the future.
Some of the questions you are asking imply you don't differentiate between the two styles. I would think first it is good to know that there are two different styles and only then use them in combination. Anyway, I don't want to go into philosophical discussions here.
So, my current plan is keep pushing forward in understanding both BPA and BTC setups.
To understand BPA setups you have to subscribe and watch Al's webinars. BPA setups are related to the webinars and BTC setups are connected to the style of trading as discussed in his Trading Course. That is why there are two different sites. I would strongly recommend subscribing to the Webinars.
Always appreciate your help, ludopuig.
Some of the questions you are asking imply you don't differentiate between the two styles. I would think first it is good to know that there are two different styles and only then use them in combination. Anyway, I don't want to go into philosophical discussions here.
Not sure what you mean, but if you could help me a little more here if you think there is something wrong that I am doing, would appreciate your help.
To understand BPA setups you have to subscribe and watch Al's webinars. BPA setups are related to the webinars and BTC setups are connected to the style of trading as discussed in his Trading Course. That is why there are two different sites. I would strongly recommend subscribing to the Webinars.
Yes, I plan to in the future. It is just not feasible for me at this point of time.
