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…
I’d like to share an email provided by a YTC-newsletter reader, Alex, in response to the recent article on post-session analysis. In this email, Alex presents a method he used to improve his trading through effective post-session analysis and review. All effective review involves (in my opinion) some form of comparison of actual performance with hindsight…
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…
In the absence of a curriculum for trader training, and of a mentor who can provide daily guidance, oversight and correction, we are largely left on our own to both chart and navigate our path forward from novice to (hopefully) becoming a professional and consistently profitable trader. All too often though, the way forward is…
For those who missed “The Greatest Trading Book – Ever!” – see here: https://yourtradingcoach.org/ebooks/ Ok… but what comes second? Once again, it’s a book you’ll make yourself. This time, you’ll use a simple notebook rather than folder. And every time you read a trading blog, or newsletter, or book, or whatever, and a comment causes a little light…
The following trade review examples have been taken (with permission) from some email conversations with Josh, a trader of the YTC Price Action Trader methodology. He’s still in the early stages of his development, developing confidence in his strategy and processes through historical chart review. He’s doing this using ForexTester software which allows for trading of historical charts…
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…
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…
The plan was simple – a quick scalp short into the next support level about 10 ticks away (or maybe further if the level showed signs of breaking). But trading does not always go according to plan! Order entry errors happen. They don’t happen often. But I’ve made them in the past and I’m…
