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Hello,
The BPA encompasses numerous concepts. To facilitate my understanding, I've embarked on creating a comprehensive list of these concepts. While such a list might already exist, I wanted to share my own version.
Below is a preliminary list aimed at providing a high-level overview. For instance, when I mention "Signs of Strength," I refrain from detailing every sign. This approach is intended to maintain a broad perspective of the subject matter.
Please feel free to suggest any corrections or concepts that may have been overlooked.
Trading process Steps
- Draw lines: Channels, TRs, S/R. Mark special bars.
- Special Bars
- Trend Bars, Dojis, Signal, Second Signal, Entry, Reversal, Breakout big trend bar, Surprise, Give up, disappointment
- Micro TTR
- i,ii,ioi,O,OO….
- Special Bars
- Determine contexts (see below for each one):
- Time of day
- Previous Days/Premarket levels
- Day type
- Intraday
- Pressure / sign of strength direction
- Micro Gaps
- Always in direction ?
- BTC/STC ?
- Market Cycle: BO, Channel, TR ?
- Binary decision: Trend or TR environment ?
- Setup: Context + Entry bar
- Trade structuring
- Swing or Scalp
- Stop or Limit
- Trader’s equation
- Probability (context)
- Reward (target)
- Measured move
- Risk (stop)
- Initial, Actual
- Position Size
- Initial, Actual
- Scaling in, winners, losers
- Reasons of loss
- Bad trade
- Bad luck
- End of day:
- Journal
- Draw setups, lines, possible entries on chart of the day
Contexts ( Find setups according to their specific rules)
- Specific Time of day contexts
- Premarket
- Open
- Gap opening: Reversal or continuation
- Opening Range BO
- Opening reversal: Reversal in first hour or so
- Middle of day
- Look for change
- EOD
- Magnets (see Patterns from previous day(s))
- BTC, STC
- Bull Bear Traps
- Previous Days, Weeks, Months, Premarket contexts
- All: OHLC, Premarket: HL
- breakouts, breakout pullbacks, failed Breakouts, fades, magnets
- Daily chart specifically
- Trend: Bo, Micro
- Enter intraday on minor selloff reversals in direction of trend.
- TR
- Fade daily TR extremes intraday
- Trend: Bo, Micro
- All: OHLC, Premarket: HL
- Intraday contexts
- Trend
- Types
- BO
- Micro
- Small PB
- Channel
- Wedge
- Broad channel
- Patterns
- Pullbacks: Flags, Deep, ABCD, 50%, Micro DT/DB
- Triangles: expanding, contracting
- Micro TTR
- Give up bar
- Disappointment
- Pullbacks: Flags, Deep, ABCD, 50%, Micro DT/DB
- Types
- TR
- Tight
- Barbwire
- Broad
- Tight
- Reversals
- Major (MTR)
- Minor
- V shape
- Rounded Tops and bottoms
- Final Flag
- Double Top
- Double Bottom
- Late in trend
- Climaxes
- Support/Resistance
- Trend
- Day types contexts
- Trend from the open day
- Trading Range Day
- Trending trading range day
- Stairs / No Stairs
- Reversal day
- Small Pullback trend day
- Large pullback trend day
- Large gap day
- Double top/bottom day
- Trend Resumption day
- Broad Channel day
Psychology
- Traits of great trader
- Disciplined, objective, patient
- Reduce fear of losing money
- Walmart strategy
- Forest gump
- Don’t care size
- Fear
- Greed
- Embrace uncertainty
I'm aware of the glossary, but I wanted to create something more hierarchical.
Thank you for sharing this outline. I like what you did with this.
Not sure if this applies but I tried to categorize the Encyclopedia into a mindmap:
Hopefully this will give you some ideas,
CH
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Thank you very much for sharing. Excellent work in thoroughly mapping the concepts. I don't yet have access to the encyclopedia (it's been less than 2 months since I purchased the course), but I will definitely buy it when I can.
For now if you want you can do what I did, it helped a lot!. Al said to do it in one of his books and I'm excessive when it comes to learning so I basically created an encyclopedia of chart patterns. I have Bull, Bear, Trend Resumption, TR, reversal days etc in different folders as well as the name of each pattern. I started from Jan 2023 until present day. It was helpful for me. Now I see patterns unfold pretty good. I went back further, still do 10 a day, started doing the Nasdaq also. For me its practice. Hope that helps you too!
Hi Eric,
May I know, those chart patterns you have across folders are from the daily markets or are they screen shots of BTC?
Trying to figure out a way to finish the course, but seems like a huge task.
Also could you please let me know what is the best possible way to finish the course without getting lost half way through.
Regards
Pradeep.
No, I created my chart patterns from think or swim. I use more description like breakaway gap bar etc.
Honestly I don't know a easy way to get through the course. It's hard work. I would do 3 videos a day. Take your time. I wouldn't move off a video until I fully understand. Of course take notes. Trading is the same as the course you have to process the info, wait, be patient and it will come. I know that sounds like BS but it's 100% the same patience you will need for the market.
I watched everything more then twice. It took me about 2 weeks to get through it and that was only getting through it. I had to watch again and again (couple months). I'm a fast learner but it took a while before everything clicked where its more intuitive instead of thinking so much. I'm a learner that pause the video, go to my chart, find everything he's talking about, get lost for about a half hr in the charts then come back and repeat those steps. I don't know if that helps but that's what it took for me. I also read the Trading manual and becoming a professional price action trader a couple times it's under learn to trade. Explore the site. Good Luck!
Pradeep,
I am currently completing the course, and there were moments when the task seemed insurmountable.
2-3 videos per day every day was the way to go for me. And taking notes, basically from the text that was on the slides (no screenshots, pure text).... this end up being an exceptional trading manual of roughly 160 pages. Well worth going through it all, patiently.
Thanks Eric/Benjamin for the response.
You guys are able to pull off 3 videos a day which is huge. You work a job or you guys are completely focused on just trading?
Finishing three videos after a day job is completely ruled out for me. I would be good if I finish at least one video a day.
Regards
Pradeep
Yes, I have a full time job, a daughter etc. Take your time and go at your own pace. Good Luck!
Thanks Eric/Benjamin for the response.
You guys are able to pull off 3 videos a day which is huge. You work a job or you guys are completely focused on just trading?
Finishing three videos after a day job is completely ruled out for me. I would be good if I finish at least one video a day.
Regards
Pradeep
If you are doing long hours in your regular job, then you have to be ruthless and creative in your time management if you really want to succeed.
Cut out all TV, social media and most social interactions, and use every spare minute you have watching BTC.
Use commute time (unless you're driving) to watch BTC.
If you watch TV / Netflix / Amazon etc while eating, replace it with BTC (not watching anything while eating would be even better).
Go BTC-crazy on weekends. Watch 6-7 videos on Saturday and Sunday each, and/or review old videos.
Keep BTC videos playing during daily chores, eg, when you're cooking, chopping vegetables, etc.
You get the idea.
