One of the toughest times of my life – that threatened my own psychological wellbeing as well as the potential safety and security of my family – was in early 2004, when I first made the leap from part-time to full-time trading. I had the required knowledge. I had the required skills. I was a…
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 often get asked, ‘when is the best time to trade forex intraday?’ Great question! Just because the market trades 24 hours a day doesn’t mean that there are opportunities available all day every day. The market typically varies in range, and therefore opportunity, at various times throughout the 24 hour period. Some periods of…
“Repeticio est mater studiorum.†(Repetition is the mother of all learning) …Saint Thomas Acquinas If you’ve noticed the small size of this article, you may suspect that this article itself is NOT the Greatest Trading Book – Ever! And you’d be correct. But don’t worry; there’s a simple explanation. This article will explain exactly…
The following email (below) was shared by Stuart, a YTC Newsletter reader, in response to last weeks article, “The Second Greatest Trading Book in the World“. MindMaps are an exceptional tool for structuring your learning environment. I only wish I could have been so organised back when I went through my initial learning phase. Instead…
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…
Are you creating and using your market structure journal yet? If not, why not? (If you’re not aware of what that is, why not? It’s on my ebook page. See “The Greatest Trading Book – Ever!” at https://yourtradingcoach.org/ebooks/) It doesn’t matter which market or timeframe you use. Market structure concepts apply to all markets and timeframes….
We recently shared some post-trade reviews from Josh, who is doing exceptional work in creating a trade review journal for his longer timeframe forex trading (daily charts). See the trade reviews here if you missed them:Â https://yourtradingcoach.org/trading-business/Trade-Review-Examples/ But a trade review journal is not the only option you have. Today I’d like to share a chart…
When I receive two questions on the same topic within one week, I know that there is a topic I’ve neglected to discuss in sufficient detail (or at all). So it’s time to address the issue of trading a small account with one contract. Question from NJ: Quick question: Can you touch upon the…
Reader Email: To: Your Trading Coach Hi Lance, I thought this was pretty cool and just wanted to show it to you. Nick Attached Image: (*** Click on the image to open a larger copy in your browser! ***) My Thoughts: I love this! For a number of reasons… It clearly shows that…
