Product Review: Trading The Pristine Method Course by D. D. Peterson
This is the second of a two-part home study series on how to trade using the Pristine method. Part 2 (Tpm 2) gives more insight into the approach taken by Part 1 (Tpm 1). In Part 1, setup patterns lead to trade entry. In fact, you are given a point system to quantify how successful a trade might be. Part 2 drills deeper and analyzes what technical analysts really try to do: Understand what emotions and expectations are in play with price and volume patterns. Pristine trading has little reliance on indicators. It is about understanding what price patterns tell you about emotions and expectations.
This course has 16 modules. While Part 1 was rich with example price patterns, Part 2 emphasizes explanation with text. The presentation quality you saw in Part 1 has been carried over to Part 2: a map that allows you to pick any module of interest or revisit ones you’ve already studied, mouse-controllable sliders to advance or repeat the dialog for one slide chart, advance and reverse buttons to move back and forth between slides in a module, and a table of contents allowing you to select any topic in a module with a mouse-click. It is also clear that like Part 1, the words on the slide charts in Part 2 have been chosen with care. Let’s take a look as some of the modules.
CANDLESTICK ANALYSIS MODULE
A helpful aspect of this course is charts that summarize. Several examples can be seen in one of the first topic areas, “Candlestick analysis.” The Pristine Trading Method (Tpm) uses candlesticks because it wants the Pristine trained trader (Ptt) to observe the size of the body, its relationship to the upper and lower tails, the color, and candlesticks that have preceded the current ones. The course explains that while there are numerous names for candlesticks such as doji, hangman, and engulfing bar, what matters to the Ptt are just six Tpm names such as Wrb (wide range bar) and Cog (changing of the guard). See Figure 1.