Would you like to discover a quick and simple risk management strategy that is easy to apply to any trading plan, and has the potential to vastly improve results? Excellent! I’m not talking about the placement of stop losses, which is what most people consider as ‘risk management’. Rather, this is a simple tool for…
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 Let’s discuss my pre-session routine. Feel free to use whatever parts you find useful for documenting your own…
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…
This doesn’t sound too appealing, does it: 10:30pm – Trading Preparation 11:30pm – Market Opens – Commence Trading 01:00am – Stop Trading – Commence Post Session Review 02:00am – Wind-down 03:00am – Bed 07:00am – Up to get the kids ready for school (etc) Late to bed; and a serious lack of sleep. And it’s…
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…
This chart is from Thursday 19th March 2020. A couple of quick trades and then STOPPED. Done for the day. Why stop? Because today was a Hit & Run day! Trading is a performance activity. And it’s our job to manage ourselves in an attempt to get as close to peak performance as possible. Good…
Imagine if you started this exercise a year ago: You’d have an incredible database of 52 “best of†trades and 52 “worst of†trades. An incredible resource of what works and what doesn’t. And clarity as to the path you need to take to grow and develop YOUR edge in the markets. Most likely though,…
Fatigue management is a favorite topic of mine, due to my interest in aviation and in particular aviation safety. In military aviation, in both a training and operational environment, fatigue management is recognized as an essential function of command, in order to minimize risk and enhance operational effectiveness. The same applies to the management of…
Life… the stuff that gets in the way of your trading! I know that everyone has difficulty at times fitting their trading in and around the rest of their life. Especially if you’re still working a full-time job and raising kids at the same time. But seriously, I can’t imagine a much worse time-zone for…
How Can I Get More Discipline? Here is an excerpt from an email I recently received: EMAIL (Excerpt): … one of my biggest hurdles is still discipline. I’m beginning to think I might need some help in this area. Do you know of anyone who has successfully helped people with their discipline? RESPONSE: Poor discipline…
