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…
One of the greatest processes you have at your disposal, for maximizing your learning and fast-tracking your development as a trader, is your review process. Let’s have a look at how I recommend you carry out this often-neglected part of your daily trading routine… For too many traders, the review process is simply entering their…
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 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…
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…
Reviewing Old Charts (AKA… “I can’t believe I held the trade past that stop loss”) I highly recommend keeping ALL your old trading charts and journal notes. They’re great to review each now and then. Not only do they offer educational value but they also offer a source of motivation in allowing you to see the…
The business of trading is a dynamic and ever-evolving process of growth and development. You don’t ever reach the finished state. Instead, you’re always in the process of “becoming” a better trader. Novices make the assumption that when they find the right system, then the job is complete. Nothing is further from the truth! As…
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…
