Trade Session Review Example Following on from Part One at this link: https://yourtradingcoach.org/trading-business/how-to-conduct-an-effective-trading-session-review-1-of-2/, let’s look at an example of a missed trade. The example is the open of the UK session on April 6th, 2010, which provided us with a beautiful Asian session breakout failure trade. The three blue horizontal lines represent pre-session support and resistance,…
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…
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…
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…
Last Monday was the US Labor Day public holiday. So I was surprised to see an email on Tuesday from a trader who was caught unaware by the low volume. Here’s an excerpt from the email: “Today was some USA holidays (I did not even know it) and most of the markets were completely…
An amateur and a professional trader can look at the same price charts and see completely different things. The difference is not as simple as the professional having a better strategy, but rather that they have superior mental models and belief systems. They see the market in ways that the new trader cannot yet comprehend….
In a previous article we discussed the various levels you need to pass through on the way to achieving your long-term trading goals: See here if you wish to explore this path in greater detail – https://yourtradingcoach.org/trading-business/its-time-to-fight-to-get-to-the-next-level/ And we also discussed the process required to drive your development through each of these levels: This has…
If your progress has stalled in any way, it is just SO IMPORTANT to realise the following truth: Progress comes from your growth and development plan, not from your strategy. This just won’t work: Hoping, wishing and praying doesn’t work. Just trying harder doesn’t work. You need something ACTIONABLE. Let’s fix it NOW: STEP ONE:…
I posted the following image on social media on Tuesday, showing a nice example of a false breakout and reversal from a period of volatility contraction. The important point though… and the one which offers the most value to you… is not the image itself but rather the text that was posted alongside the…
