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….
As a discretionary trader, the MOST IMPORTANT question you can ask during analysis and trade management is: Where are the orders? I had an email chat this week with a trader, Bruce, who is progressing well in identifying potential sources of orderflow for trade entry. Bruce took a limit order buy entry at point B…
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…
I watch a LOT of trading videos and webinars. Whenever possible, rather than watching them live or streaming them, I prefer to download the video which then allows more active control over the playback speed. I personally find that playback at 1.4 times the normal speed still allows the presenter to be clearly understood, while…
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…
Depth refers to the distance with which a pullback retraces the previous extension.
"Good is the enemy of great."…Jim Collins I am guilty of allowing my trading development to stagnate. Generally happy with my level of performance, I have seen little new progress over the last year. To some degree, the 3-4 hours per day answering YTC emails and writing a new blog post or newsletter article does…
