The market has opened and rallied. Not with great strength. In fact it’s quite slow. But it rallies with a clear bullish bias. It’s clear of all S/R levels, above the prior day’s high resistance (now support) and well short of the next higher timeframe resistance level. Trade opportunity in such a case is…
Let’s start by assuming that you are tracking your trade results and compiling stats to drive further growth and development. (See here if you’re not!) What do you do when you discover one part of your trading plan consistently underperforming? It might be one particular setup. It might be one particular type of market…
I receive a LOT of requests to review people’s trades. Rarely winning trades. Almost always a trade which either lost or was scratched at or near breakeven. “Was this a good trade?” “Was I right to take this trade?” “Should I have (entered earlier / entered later)?” Or any other variation of these type of…
Part One is here if you missed it – https://yourtradingcoach.org/trading-business/my-go-to-method-for-solving-trading-problems/ In that article I presented a three question framework which I use to seek solutions to any of my trading problems. Can I avoid the problem? Can I reduce the frequency? Can I reduce the consequences? Or in simpler English: Is there something I can do…
I want to share a simple process used by a reader in addressing a recurring problem in his trading. I was happy to see him use this approach, because it references a post-session technique I shared quite a few years back. And perhaps it will be useful to you as well, in ensuring compliance with…
We have been blessed with some absolutely amazing markets lately. Incredible daily ranges. Incredible opportunity. And incredible risk, if not played wisely. So while it’s tempting to use today’s article as an ego-boosting review of a couple of winning trades, that’s not really what motivates me with my YTC writing. I’m more concerned about your…
My planned article is on hold, hopefully scheduled for next week. Horrific developments yesterday, with Russia invading Ukraine, have led to extremes of volatility. And a desire to share a different message. One for new and developing traders. One that you may not want to hear. But one that is necessary. My desire is to…
Welcome to part 2 of our short article series on Advanced Candlestick Analysis. If you haven’t read part 1, you’ll find a copy posted at this webpage: https://yourtradingcoach.org/trading-process-and-strategy/advanced-candlestick-analysis-part-1-of-2/ In the last article we reviewed some of the key concepts from basic candlestick analysis: The importance of identifying the market context – where the pattern is…
Trapped traders are a simple concept you may wish to incorporate into your trading strategy, due to its potential to offer higher reliability trade setups. These are price action based setups in which traders suddenly find themselves trapped in an undesirable situation, either: Stuck in a losing position, desperate to get out; or Stopped out of…
Risk management is not just setting stops. A risk management review of your business should involve identification of all risk and establishment of controls or treatments to ensure you appropriately manage that risk. Risk treatments are usually classified into three categories: Avoid the risk, Transfer the risk to another party, or Reduce the risk. …
