Although my primary intent with this website is to provide my own articles and videos, I do also like to link to quality material on other sites, as it’s discovered by myself or a reader. Today I’d like you to read a four part series written by Adam from SMB Training on the randomness (or…
Entry to a counter-trend trade can be difficult to time, especially when it’s not in the vicinity of any significant S/R level. And particularly when it just keeps grinding a little further, then a little further again; always offering what appears to be tempting entries. (Note: the example here uses a trading timeframe of 1 min, with…
Monday’s emini-Dow session offered two great examples of the higher probability way of trading a reversal at S/R, when price accelerates into the area. The examples occurred on the 10 tick chart, which I’ve been using as my lower timeframe lately, however the concept is applicable on all timeframes and markets (provided they offer suitable…
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…
The following is an excerpt from an email response to a trader who suggested that, “Price Action Trading is a lagging indicator (albeit short lagging indicator) methodology based on one’s reading of the future price direction through market/trend analysis with active management designed to scratch trades early if the market suggests one is incorrect on…
ID-NR4 is a market structure feature that I don’t purposely look for – my strategy should pick up these setups just due to the presence of S/R. However it may be a concept that appeals to you. If that’s so, it’ll make an easy addition to your analysis routine, taking about one second to determine…
My current business practice is for the use of an electronic trading journal spreadsheet, plus hardcopy printouts of charts. For those though who prefer to operate all electronic, saving on folder after folder of hardcopy printouts cluttering your trading office, the following is a simple Excel trick to allow you to easily find the chart…
Always think about the other trader. Where have they entered? How do they feel? Where are they going to stop out of their position? Consider the traders entering short here:
More great email Q&A, that allows us all to learn… Hi Lance, I would like to know what would you do if you are faced with the trade situation as in shown in the attached files. I’m seeing in the one-hour chart that the supply and demand is in equilibrium, then supply is greater than…
A great email question from Mike: I know you don’t trade stocks but I’ve always read that you leave gaps alone due to reversals. But take LOCM today; what’s the buy point? I’m thinking $4.30 or is this to soon, or would $4.50 be the safer buy. I found it at $4.30 but stayed away…
