Lance Beggs Price Action Book

[Bok Wykes]

Ilearned price action trading by studying Al brooks 2009 Reading price charts bar by bar back in 2014. The way the books is cramped up with all sorts of information it will take you atleast 2 - 3 re-reads to properly understand. Cause he just keeps on giving new information after information regarding each candles that he sees during the day how it forms a Low 2 or a High 4 or a Final flag etc. etc.

Do one thing. Download the charts that are given in this book from Wiley website. And keep it ready and to the right hand side when reading. As you read each section of the book in front of you constantly refer to the charts given in the Fig. And try to atleast re read each chart explanation he gives 2 times by matching it with the charts downloaded. If possible also mark your own understanding and then tally back with what Al Brooks says in the book. That way the concepts and the methods will be absorbed better and faster.

And the next 3 volumes are just expanded upon this inital book. Each three has different focus on Trends, Reversals or Trading Range. I only own the 2009 book and thats basically enough for me. Gives me more information than i need to formulate a sound strategy around the concepts he provides.

@mayur-b I agree with you about AL brooks books, only he can understand what has been written

it is really a tough read I had almost given up on his books after reading your opinion I guess I should finish it

thanks for creating this thread

Hello Mayur!

I have been trying to find lance beggs ytc books which I never found online. It would be really grateful if you could share the books here as I have a hard time affording it being a college student.

This strategy trades with the trend on a 5m TF, taking pullbacks that utilise the 14ema and volume. While also being aware of Support & Resistance, Stopping Volume, upcoming news announcements & session opens.

The first six posts in this thread are prerequisite, as there are a few price action basics to introduce. There are also links around the web that reinforce the concepts. Like all forums on babypips, please feel free to participate but try & avoid any question that you could google for yourself.

Using the EURUSD setup from earlier as an example, an uptrend with a nice sign of No Supply Volume testing the 14ema, our entry is marked, our Stop-Loss below the Swing Low + a pip for the spread, and our 1R target marked. 1R = Entry - SL, this is our break-even target. On this trade, the candle that triggers our entry (candle #2) also closes above 1R, at this candle close we can look to move our SL underneath the lows of bullish candles, this is how I trail. For uptrends, I trail below bullish candles, for downtrend I trail above bearish candles.

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[li]Trend - 14ema

[/li][li]Opening Range (OR) - below, short,

[/li][li]S&R - broken through & pulled back to,

[/li][li]14ema - price pulled back to 14ema,

[/li][li]Volume - signs of No Demand,

[/li][/ol]

Great thread jalapenoninja, count me in as a follower and hopefully a contributor. I have been looking at price action and volume in the lower time frames (principly the 5 m, 15 m and 30 m) where you can get some great risk reward ratios. I am really looking forward to seeing how this pans out.

Your system is uncannily similar to what I have been attempting to experiment with, between attending to the needs of my young son. I am in Thailand so the sessions I trade (demo) are similar to yours. I also use the 14 ema (my favourite) and 50 sma and have spent the last few months trying to get to grips with volume. I have watched Pete Faders no demand video on several occasions and this seems to be the easiest way to use volume. However, I have not used the previous days highs and lows and I will add these to my charts and see how it goes.

These six principles comes from Lance Beggs and the YTC price action course. It is important to understand these six principles because they will help you to determine the most probable future trend direction and that is where you want to trade!

Before I go explain these principles I will begin by talking about the underlying foundation that they are derived from. This is a very important starting point and it actually took me some time before I understood the connection between the foundation and the six principles!

I have mentioned before that the market has inertia, this means that the market tends to continue doing what it has been doing in the past. So, therefore the trend or ranging market must also have inertia!

That sounds kind of basic but when trading it is very easy to fall into the psychological trap of thinking Yes the trend is up but it has been up for so long so it must turn now!! Since the market has inertia the trend will continue up until something happens that violates that uptrend. But until this trend violation point we must accept that the trend is up if the trend is up! If you want a recap of the trend violation point, click here.

This means of course that I still will look for strength and weakness in every bar but my initial view is that; if the trend is up the trend is up, if the trend is down the trend is down or if the market is ranging it will keep on ranging between the range boundaries within the structural framework. I stick with this view until 1 or 2 is occurring!

In the picture below we can see how the trend is down and moves with force down to the structural support where the bulls come back and the bears take profit. This turning point at the structural support resets my view of the trend from bear to neutral! Since my view now is neutral I sit on the sideline and watch the market for the markets next move. The bulls take back control and I mark the trend violation areas in the new uptrend. We can clearly see that they are not broken until the market now tests the area of the structural resistance!

The important thing to remember with the principles are that when price moves within the structural framework or boundaries the four first principles should be your focus and when price is at the structural framework or boundaries the last two principles should be your focus point.

YTC Price Action refers to the unique trading approach taught on YourTradingCoach (YTC), a website founded by Lance Beggs. It emphasizes understanding market movements through price action, focusing on practical, real-world trading strategies without over-reliance on indicators.

The YTC Price Action Trading Course by Lance Beggs has garnered significant attention and praise in the trading community. Its high rating of 4.48 based on 103 ratings on Goodreads is a testament to its effectiveness and value.

Lance Beggs is a distinguished day trader, primarily focusing on forex, FX futures, and emini futures markets. His trading approach is discretionary, skillfully navigating short-term market sentiment within a support and resistance framework. This method showcases his adeptness in reading and responding to market movements, a skill honed through years of experience.

As the founder and chief contributor to YourTradingCoach.com, Lance Beggs is committed to providing high-quality trading education and resources. His focus is on the often overlooked but crucial aspects of trading, such as psychological resilience, strategic risk management, and developing a disciplined trading mindset. His website provides a platform for sharing his insights and experiences, helping traders at all levels refine their skills and approach trading with a more holistic and informed perspective.

Popularity of Price Action Trading: This method is popular because it simplifies the trading process. Traders can use only a few indicators, sometimes giving conflicting signals. Instead, they focus on the actual price movements, making interpreting and reacting to market changes easier.

Key Elements: The main elements include understanding support and resistance levels, identifying trend lines, and recognizing various chart patterns and candlestick formations. These elements help traders to make sense of market movements and to predict future trends.

Almost all beginners have heard of the Price Action method, but many people identify it with the usual candlestick analysis, which is not quite correct. The fact is that the Price Action really takes over many of the provisions of the candlestick analysis, but it is an optimized method for the current market conditions.

One of the fundamental principles of this theory says: "price discounts everything". It means that the forecasting of the future price changes is based on the analysis of prices. They already have all the necessary information, and adherents of this strategy do not waste their time analyzing economic and political news. These are the basics of price action.

As an extension of the history of the price action strategy, it is worth mentioning Steve Nison who published a book on candlestick analysis in the 1990s. He was the first to talk about trading using only the knowledge of Japanese candlesticks. And Martin Pring taught how to trade based only on price behavior and price levels.

Gradually, interest in trading without the use of indicators increased. In 2005 the price asset strategy took shape and is used by traders all over the world. Its founder is considered to be an American blogger who devoted a ForexFactory forum thread to price action.

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