Successful traders do a lot of work away from the charts. Over the last five years I’ve been asking you to join their ranks. I’ve asked you to create and use a Market Structure Journal – https://www.yourtradingcoach.com/products/ebooks/the-greatest-trading-book-ever.pdf For YTC Price Action Trader readers, I’ve expanded that to include a Motivation Journal, a Lessons Learnt Journal…
The following article comes courtesy of an email I received from an equities trader (daily timeframe) who was working to improve his pullback entries within a trending environment. His challenge was that while the market was maintaining a steady state trend with no real signs of weakness or topping action, how exactly should he be…
Recently I posted an article that smashed the record for the most feedback so far in 2013 – Gaining Confidence in Taking the Trap Entries. It seems that a lot of people got great value from this article. I’m very happy with that! One of my primary goals is to help people see the markets…
A term you'll hear me use occasionally is "trading the edges". What I'm referring to here is: In a sideways market with no particular bias either direction, taking trades only in the vicinity of the outer edges of the trading range; in particular when it traps a "breakout" trader. Trades may be taken long from…
Establishing a bias intra-session is a simple process of following our 6 principles for future trend direction. It's a little more difficult at the session open though, when the lack of prior data adds to the uncertainty. Last week we worked through an example in which we established a bias from the open. Essentially it's…
All Market… All Timeframes. 1. Determine the bias 2. Enter on a trap setup against the bias The following provides an example for longer timeframe equities traders, using a Weekly / Daily combination.
