The last week was quite tough in many markets, with lots of sideways action and the occasional sharp directional moves in-between. In tough environments, it pays to be VERY patient. Don't push trades. Wait for the A-trades only; the ones which are screaming out to be taken. One that screams out to me is demonstrated…
Let's continue one of the secondary themes from last weeks article: "Trade against those who attempt to fight the market bias, aiming to enter at or before the point of their trade failure, to profit from their exit orderflow." One way I love to see this set up is via a double failure pattern. This…
Question Received via Email: I'm an experienced long time, unsuccessful trader looking for profitability and consistency (aren't we all), anyway you seem to have way TOO much information. Can your method be boiled down to a few simple rules or is it more complicated than that. Sorry to be so blunt. Thanks. Initial Email Response:…
In my experience, most traders are too focused on individual trade results. Individual trade results do not matter (provided of course they do not violate your trade, session or longer timeframe drawdown limits). You need to expand your focus beyond the individual win or loss. Once you've proven your strategy in a sim environment, the…
I'd like to share a great question received this week which highlights a number of recent topics that have been discussed via the newsletter or blog – the irrelevance of individual trades, the imperfection of ALL exit strategies, plus patterns vs context and the way price movement influences other traders' decision making. Question: I stumbled…
(NOTE: This is not an advertisement! It's a report of my first attempts to introduce biofeedback into my trading routine.) Several weeks ago I advised in the YTC newsletter that I'd bought an emWave2 biofeedback device. My plan was that I'd experiment with it over the following 6-8 weeks and report on it's effectiveness as…
Ok… maybe not you… but too many traders DO have too much focus on individual trade results. I get a LOT of email from readers asking about particular trades; where they went wrong in their decision making and how they could have done better. While it's great to review each individual trade, the wording in…
