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Trading On Price Action
Specs: 41 mins, 32 secs | 19.1 MB
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Remaining patient while waiting for the right trade setups to come along is not an easy task when those setups occur only 1-3 times per day. But that's exactly what trader John Paul does and does extremely well. As an S&P Emini trader, John tells us the timeframes he works on to find those trades and the "special" number he's watching for during the trading day. I ask him what his "perfect setup" looks like and how he sets his profit target and stops. Speaking of stops, I was floored when he first mentioned where he sets his! We then discuss the software he uses (and raves about) that has helped him become a successful trader and why he never uses indicators. Finally, we discuss how he developed his strategy by listening to his friends who are floor brokers and he tells us the only things that professional floor brokers watch and have faith in as their guides in trading.

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Trading On Price Action


TraderInterviews.com: Hello everybody. Welcome back to TraderInterviews.com, and welcome to our members for joining us here for another episode. We're going to be speaking with John Paul, he's a trader. He's going to talk about the kinds of systems he uses and how he got into this business in the first place. So John, thanks very much for joining us on the show today.

John Paul: It's great to be here.

TraderInterviews.com: Well, talk about how got into trading in the first place.

John Paul: Well, about 10 years ago, I was doing medicine in Seton Hall University, New Jersey and decided not to pursue that route. It's not what's for me, I didn't want to go 12 years of schooling. And a friend of mine introduced me to a Larry Williams' course how to trade futures and commodities. So without having any experience in trading, I went through all the videos and all the courses and I thought to myself, "Why this is pretty easy, I can do this. The money is great." Opened an account, probably back then, a $10,000 account. I thought I knew what I was doing, I lost all my money.

TraderInterviews.com: You blew up the whole account?

John Paul: Yeah, probably with a thousand dollars left over after that.

TraderInterviews.com: Oh, wow.

John Paul: So then, I embarked really on a journey to learn how these markets worked and reinvented the whole way about thinking how to trade without thinking about indicators or following people, just invented a whole new different idea of trading.

TraderInterviews.com: Well let me ask you this, a lot of people getting started by reading books or buying some kind of educational program, what is it for you? Why do you think it didn't work for you for the type of trading you were doing?

John...

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