Regardless of a prop trader trades using fundamentals, technical, algorithmic or sentiment methods. The common conclusion is that it is all about price action. Despite all his research and work with trading psychology he ultimately works with a strategy he calls logical price action. That is an interesting concept because the notion is that the market prices all the aforementioned in the first place. That’s the sort of initiative and ingenuity you need as a prop trader.
We have written about price action before (see our blog), and in our Mastermind course, we teach extensively about price action and its applications while mentoring and coaching people about it, whether they are an experienced prop trader, an intermediate prop trader or looking to become a prop trader.
In fact, at City Traders Imperium, we can even spend hours (in this case typing volumes) chatting about price action right down to what is and is not price action.
We have even gone into depth about how you can use candlesticks and how you can use them to confirm your patterns— that is only a sample of what our Mastermind covers in its prop trader education.