Trading Business

Don’t Waste the Christmas / New Year Break

  Trading stopped for me yesterday (22nd December) and will not recommence till the first Tuesday in the new year. Yes, markets are open during this period, but with many professional and institutional participants on holidays, volumes will be lighter and any opportunity will be lower probability. I prefer to take a break rather than…

Trader

Trading Angry? F**k Yeah!

A common assumption is that a trader needs to be operating with a calm mind and relaxed body in order to trade with maximum focus and ensure peak performance. Generally, I agree with this idea. Relaxation and positive affirmations have been some of the main tools I’ve recommended when asked for assistance with mindset and…

Trading Process and Strategy

Managing Part Two of your Trade

The following is some recent email Q&A regarding the management of part-two of a trade (all-in scale-out), following the exit of part-one at it’s target. EMAIL: Hi, I just started demo-trading and I’ve found out that I have absolutely no idea how to manage target two. I trade GBPUSD 30min/3min/30sec. I like the idea of…

Trading Process and Strategy

Who Will Give Up First?

Last weeks newsletter article (“The Most Important Question You Can Ask”) generated quite possibly the second largest email workload ever (behind the 4-day backlog generated by “6.18 Reasons Why Fibonacci is an Illusion”). The feedback was all incredibly positive and supportive of my efforts with the YTC site. Thanks to all who responded. It’s greatly appreciated….

Trading Process and Strategy

How To Make a Strategy Your Own

There is a period of time required in implementing a new discretionary trading strategy, in which the trader must make the strategy their own. This goes far beyond just learning the rules of the strategy. A trader must take the time to understand the principles underlying the strategy, to confirm these principles are compatible with…

Trading Process and Strategy

Asian Session False Breakout

Wednesday’s price action (3 Nov 2010) in the GBP/USD provided a good reminder of the importance of being aware of the key market structure and timeframe influences that exist in our markets. In forex, one of the most obvious features is the typically narrow range Asian Session. (See here for a related article on the…