Monthly Archives: September 2014

Reader Session Review

 

I received an email recently from trader MK which I want to share, as it contains a few good lessons.

MK has kindly provided permission to share his session review. (His words… “You can use the email and the charts, that is why I sent them. It is important for traders to know that if you put the time in you will get to a point where you will trust your skills are up to the task.”)

 

Email Received:

Hey Lance,

Here is a picture of where I am at on one of my better days. I am constantly working on my weaknesses but they are now finally in a minority of sessions.

Thanks for all your help and guidance over the past. wow, almost 5 years. Your weekly insights and of course your Ebook (Read the first three sections more times than I can count) have been instrumental in my development as a trader.

You Lance are, the “Real Deal” and I would highly recommend YTC for anyone who aspires to be a trader.

MK

2 Things I learned from Lance that helped a ton.

1. Forgive your self for your mistakes, you will make many, and move on.

2. If you can not do it on the simulator you will never do it in the real world.

🙂

 

Charts:

(NB. Click on the images to open a full-size copy in your browser!)

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Gap Closure

 

Reader Email:

To: Your Trading Coach

Hi Lance,

I thought this was pretty cool and just wanted to show it to you.

Nick

Attached Image:

(*** Click on the image to open a larger copy in your browser! ***)

Gap closure market structure observation and notes

My Thoughts:

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Buy Because There Are No More Sellers (with lower timeframe)

 

A fortnight ago we looked at a few trades which were entered using the concept of "buying because there are no more sellers"… or "buying because the market can't go down".

I've received some requests for another example. And two people asked to see what I'm looking at on the lower timeframe.

So let's look at a couple more trades.

First though, we've discussed this idea a few times over the last six months or so. If you want to review some of the earlier material, try some of the following. There may be more if you search through the archives as well.

For one more example, let's look to the emini Russell (TF) on yesterday's session, Tuesday 26th of August.

buy because there are no more sellers

buy because the market can't go down

Let's back up to the start of the session and get some context from a slightly higher 5-Minute timeframe.

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