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…
Welcome back to the third article in the current support and resistance series. In the last article we discovered how swing highs and lows lead to the development of support and resistance areas, through the actions of traders – either through an expectation of these areas holding, or through traders being psychologically forced to exit…
The following is an extract from some great Q&A with one of the YourTradingCoach newsletter readers: Question: Lance, I have been watching those videos on your website and the more I watch them, the more sense they make. They are great, but as you may have guessed I have questions. Firstly, your style of…
I’ve been following a great blog (http://forexbird.blogspot.com/) for a couple of months now and it’s inspired me to spend a week or two playing with a reduction in trading timeframe. And I have to say that while trading is without doubt a serious business, I haven’t had so much FUN in years. Despite his excellent performance, the…
Are Short Timeframes Just Noise? (And Other Scalping Feedback) Thanks to everyone who provided feedback on the Scalping article last week – https://yourtradingcoach.org/trading-process-and-strategy/scalping/ It appears this is a market approach that interests quite a few people. Expect to hear more in future. For those of you not interested though, do not despair. There will be lots…
Your trading timeframe, market and strategy MUST be matched with who you are as a person. Until it does, I believe it’s impossible for you to achieve consistent success. This is discussed below in a great email exchange with one of the YTC readers… Email: Hi Lance, I actually read the three parts of “The…
Here’s another great email question from a reader… Question: Hello Mr. Beggs, I am serious about trading, but I am still a newbie. What are three things that I can practice to improve my performance that can be repeated a lot and will continuously provide me feed back on my results? You currently being a…
The charts should be pretty self-explanatory, so have a read through them and then I’ll wrap it up with some text following the last chart. Three steps only: 1. Identify the bias (flow, path of least resistance, future trend or whatever you want to call it). 2. Take a wholesale entry in the direction…
Do not jump straight into live trading! Success with any trading strategy should follow a graduated implementation plan, to allow you to increase risk ONLY as you have proven sufficient knowledge and skill at each risk level. YTC PAT Vol 5Â discusses deliberate practice and provides a detailed example of a graduated learning plan. YTC Scalper…
Let’s continue one of the secondary themes from last weeks article: “Trade against those who attempt to fight the market bias, aiming to enter at or before the point of their trade failure, to profit from their exit orderflow.” One way I love to see this set up is via a double failure pattern. This can…
