Well, I’ve had a frustrating week. No opportunity to trade until Friday, and no opportunity to work on my website and newsletter service. NOT HAPPY!!! But then, that happens to us all from time to time. Life has a habit of failing to consult with us, prior to messing with our plans. What happened? Well,…
Question: Hi Lance, I read from another resource that in order to detach your emotion in every trade you need to have a set of written specific rules about your entry, your position size, your exit and any other possibility that might happen in that trade and you need to follow it with “marine discipline 
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…
“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…
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…
Question: “As a discretionary trader, how do I define my edge?†Answer: Here are some ideas: Strategy development: YTC Price Action Trader Work on psychology: My Daily Trading Psychology Routine Improve the recording of your stats: Trading Journal Spreadsheet Replay and Review prior sessions: What is Market Replay? Develop your Market Structure Journal: This…
(click here to see a video version of this article) I want to talk about a common theme that’s in many of the email questions I get through my website. Many people have bought a trading system, or a couple of books, or attended a seminar, and just not achieved the success they thought they’d…
I was driving in my car the other night with my twin daughters when the conversation somehow turned to what they wanted to do when they grow up. Naturally, being only nine years old, they had many ideas. There were those that I was very happy with – an astronomer, a veterinarian, a professional soccer…
A key component of my trading documentation is my Lessons Learnt Journal – a collection of insights organised into numerous trading-related categories. It creates a great tool for both formal review and learning, and also for casual reading whenever I’ve got a spare few minutes. Within this invaluable resource, and amongst the numerous market structure and price…
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…
