Summary of "Trading Course Day 10: How to Mark Up"

This video provides a practical guide on how to effectively mark up trading charts by identifying Swing Highs and Swing Lows, focusing on simplicity and clarity rather than cluttering charts with excessive levels. The presenter emphasizes using only one to three recent trading sessions to identify key price action levels and explains how to interpret these levels to make informed trading decisions.

Main Financial Strategies and Concepts:

Chart Markup Simplification:
- Clear your chart of unnecessary indicators and levels.
- Focus only on previous Swing Highs and Swing Lows from the last 1-3 trading sessions (or "sessions" defined by market hours).
- Avoid marking every minor level across multiple timeframes to prevent confusion.
Swing Highs and Swing Lows:
- Use Swing Highs and lows to identify market structure (higher highs/lows or lower highs/lows).
- Recognize that market structure rules apply across all timeframes consistently.
- Identify key levels where price reacts multiple times, indicating buyer or seller interest.
No Trade Zone:
- Defined as the area between a swing high and swing low where price action is indecisive or lacks clear direction.
- Avoid trading in this zone to maintain discipline and reduce risk.
Indications vs. Trades:
- An indication is when price breaks a swing high or low, signaling potential direction but not a guaranteed trade setup.
- Do not trade the breakout (indication) itself to avoid false signals and losses.
- Use indications as evidence that price may move further in that direction, but wait for confirmation.
Volume and Session Analysis:
- Pay attention to price behavior during major market sessions (London, New York) to confirm potential moves.
- Volume and session activity can validate or invalidate breakout indications.
Trade Execution Example:
- Enter a trade above a confirmed support level created after a new high is made.
- Place stop loss just below the support level to manage risk.
- Use scaling out strategies to take profits at multiple targets.
- Accept that sometimes risk-to-reward may not be ideal but rely on market structure and price action for decision-making.

Step-by-Step Guide to Marking Up Charts:

Clear your chart of unnecessary indicators and levels for a fresh start.
Turn on session indicators to identify London and New York trading sessions.
Focus on 1 to 3 recent sessions to locate significant Swing Highs and Swing Lows.
Mark Swing Highs and lows where price shows clear reaction (multiple touches or rejections).
Identify no trade zones between Swing Highs and lows where price is indecisive.
Wait for an indication, i.e., price breaking a swing high or low, but do not trade immediately.
Confirm indication with volume and session activity, especially during London and New York sessions.
Enter trades only after confirmation, placing stop loss below support (for longs) or above resistance (for shorts).
Scale out profits and manage risk according to price action and market structure.

Additional Notes:

The presenter stresses the importance of discipline, patience, and avoiding trading based on false breakouts.
Encourages community building and learning through free events and interaction.
Market structure fundamentals remain consistent regardless of timeframe.
The video acknowledges technical issues during recording but maintains that the content remains valuable.

Presenter/Source:

The video is presented by a trader affiliated with ICC (likely the "ICC Mafia" community), who actively engages with their audience, promotes positivity in trading, and offers free educational events.
The presenter’s style is informal and motivational, focusing on practical chart analysis and risk management.