Right now as I sit and write this article, it’s coming up to the end of 2008 and I’ll be shortly taking a well-deserved break from the markets and my website. Of course, as an admission that I’m addicted to trading, this won’t be a total break. I have some trading books to read and…
“Learning is not compulsory… neither is survival.†… W. Edwards Deming, 1900 – 1993 If you’d like to survive in this game, you need to learn. And while the books and courses are good, the best learning comes from making trades and reviewing your performance. So, as we approach the end of the first quarter,…
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…
Trading stopped for me yesterday (22nd December) and will not recommence till the first Tuesday in the new year. Yes, markets are open during this period, but with many professional and institutional participants on holidays, volumes will be lighter and any opportunity will be lower probability. I prefer to take a break rather than…
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…
Successful traders do a lot of work away from the charts. Over the last five years I’ve been asking you to join their ranks. I’ve asked you to create and use a Market Structure Journal – https://yourtradingcoach.org/products/ebooks/the-greatest-trading-book-ever.pdf For YTC Price Action Trader readers, I’ve expanded that to include a Motivation Journal, a Lessons Learnt Journal and…
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…
Last week we discussed my thoughts on trading a small account with one contract. See here if you missed the article – https://yourtradingcoach.org/trading-business/trading-a-small-account-with-one-contract-part-one/ We finished up by stating the following: It doesn’t matter which management style you choose; a higher probability smaller win target (like my “part oneâ€) or a lower probability larger win target…
Here’s a great question I received via private message on Social Media during the week, which I think is relevant to all of us. I’ll make an assumption here that the intent is to talk about how to fit trading into “life”. That is, how to find sufficient time for not only trading, but all the admin…
