Day 1 : Building a Watchlist and explaining the strategy Jo
Day 2 : $PLTR Trade Idea
Day 3: Buying $HOOD
Day 4: Up 5% on $HOOD
Day 5: Entered $UA Trade
Day 6: Trading In Puerto Rico
Day 7: Introducing Beacon
Day 8: S&P 500 Record Highs
Day 9: Robinhood Makes Moves Into Crypto
Day 10: Roaring Kitty Meows
Day 11: $GME Trade Idea
Day 12: $NIO Trade Entry
Day 13: Taking Profits In $HOOD
Day 14: Stopping Out Of $UA
Day 15: Stopping Out Of Everything
Day 16: No FOMO
Day 17: 6 New Trade Ideas
Day 18: Entering $ACB Trade
Day 19: DXY Tells Us To Stay Out Of The Market
Day 20: "Shoulda, Coulda Woulda"
Day 21: $CCL Hits Target 1
Day 22: Trading Psychology Book Club Week 1|
Day 23: $NKE Earnings Play
Day 24: Adding Day Trades To Our Watchlist
Day 25: Learning From Our Mistakes
Day 26: How Our 4H Candle Strategy Works
Day 27: Why I Am Bullish On $TKO
Day 28: Celebrity MemeCoins
Day 29: Stocks Near Our Entry
Bonus: Using TraderSync To Track My Trades For This Account
Interested In Having Jay As A Trading Coach So That He Can Teach You How He Finds These Trades? Click here to get started!
Demystifying TheStrat: A Guide to Price Action Trading
The world of charting can be overwhelming for new traders. Indicators flash, lines crisscross, and strategies abound. But if you're looking for a structured approach to price action trading, TheStrat might be worth considering.
In our $500 Account Follow Along we use a different Technical Analysis Strategy that we teach in our coaching program. Right now we are still up and holding $SYM and $CCL. None of our other plays have hit entry, $TKO, $CRM and $SWBI are all close. Since there’s not much going on with the $500 account, let’s dive into TheStrat for this article.
Developed by Rob Smith, TheStrat is a multi-timeframe strategy that focuses on three key elements:
- Inside Bars: These bars represent consolidation phases in the market, where the price range is contained within the previous bar's range.
- Directional Bars: These bars break above or below the previous bar's range, signaling a potential trend.
- Outside Bars: Encompassing the entire price range of the two preceding bars, outside bars often indicate strong momentum.
TheStrat goes beyond simply identifying these bar types. It emphasizes the importance of:
- Full Timeframe Continuity (FTFC): Analyzing higher timeframes to understand the overall market direction before looking for entry signals on lower timeframes.
- Broadening Formations: Identifying chart patterns where price ranges expand, potentially foreshadowing significant price movements.
The Power of Multi-Timeframe Analysis
One of TheStrat's strengths lies in its multi-timeframe approach. Imagine a sniper using a telescopic sight. The higher timeframe is like zooming out to see the battlefield, identifying the enemy's position (trend). The lower timeframe allows for a closer look to identify the precise moment to take the shot (entry point).
Is TheStrat Right for You?
TheStrat offers a systematic approach to price action trading. However, it's not without its challenges. The system can be complex, and successful implementation requires discipline and practice.
Before diving in, consider these factors:
- Complexity: TheStrat involves multiple elements and concepts to grasp.
- Discipline: The multi-timeframe analysis requires patience and waiting for the right setups.
- Practice: Like any strategy, consistent practice on demo accounts is essential.
Exploring TheStrat Further
If you're intrigued by TheStrat, then stay tuned in our discord where we will be posting the sign up information shortly for StockBuster’s Coaching Program where he will be teaching TheStrat in weekly Live Group Sessions!! We will also have a custom indicator for TheStrat!! Check out our flagship Custom Indicator StocksBuddy!!
Remember, TheStrat is just one tool in a trader's toolbox. That’s why we offer an extensive coaching program with veteran Day Trading, Options Trading, Swing Trading and Technical Analysis Coaches!
