This is one of the most common questions I get from novice traders. They’re stuck at one of the first steps – deciding what market they want to specialize in. If you’re stuck here as well, then there’s something I’d like you to think about which may make the decision easier… You’re unlikely to get…
I operate my trading business in accordance with my Procedures Manual, which documents the procedural steps I will carry out in order to complete: My pre-session routine My during-session routine My post-session routine My contingency management procedures We discussed the pre-session routine in a previous article – https://yourtradingcoach.org/trading-business/my-pre-session-routine/ In this article, I’d like to discuss my…
As we come to the end of year you’re all hopefully spending some time to review the prior year and plan the upcoming year. Maybe you’ll even make some New Years trading resolutions! The following five steps will assist in making better plans and resolutions; hopefully allowing you to stick to them beyond the 2nd…
The business of trading is a dynamic and ever-evolving process of growth and development. You don’t ever reach the finished state. Instead, you’re always in the process of “becoming” a better trader. Novices make the assumption that when they find the right system, then the job is complete. Nothing is further from the truth! As…
“Fortune favors the prepared mind.” … Louis Pasteur In a recent article I discussed the importance of regular study of market structure and price action. See here if you missed it – https://yourtradingcoach.org/trading-business/a-simple-step-to-becoming-a-better-trader/ After every trading session, find something you can learn from. Perhaps a market structure feature. Perhaps an interesting sequence of price…
Last Sunday I shared the following image on YTC Facebook and Twitter. It’s such a beautiful example of the benefits of journaling, I just had to expand upon this in a newsletter article. Here’s the thing… Ok, I know! The markets don’t always back up the very next day with a repeat of key price sequences. The real…
Here is another way to track and review trades… with a classification system that makes it a little bit of fun! During your post-session review you classify them into one of three categories: The Good – Trade ideas which DID have edge and were well managed. The Bad – Trade ideas which DID have edge but…
Last week we looked at a simple method for classifying trades based upon a post-session assessment as to (a) whether or not the trade idea did offer edge, and (b) how well we performed in managing the trade. Let’s repeat the key points from that article (or click here to review it in full)….
Before you can consistently win, you’re going to have to learn how to lose really well. That is… Completely accepting losses as a normal part of the game. And containing the damage to pre-accepted limits. This has been one of my favourite themes of the last year or so. Let’s go over it…
My performance last year… NO LONGER MATTERS. WHAT MATTERS… IS WHAT I DO RIGHT NOW! I am scheduling time during my Christmas and New Year break for three major areas of focus: 1. REST I don’t yet know the challenges that I’ll face in the new year, but I know that I will be ready….
