The following text and image were shared recently through both the YTC facebook and twitter pages. My first action on Monday mornings upon opening my charting platform… Actually, it's one of the first things I do every day. This is the key part we're discussing today: Let's stick with the same timeframe but…
You won't be successful as a trader until you're comfortable with the idea of being wrong. I'm wrong EVERY DAY. Numerous times. I'm ok with that. And that's part of why I'm successful. I was wrong again. Part of the position was stopped out at -2.0 points; the rest was at -2.25 points. Whatever!!! I…
I am quite a fan of Al Brooks' first book, "Reading Price Charts Bar by Bar", despite the fact that we trade very differently. Out of close to 400 pages, there is the one idea which has stuck with me more than any other. From page 384: "Countertrend setups in strong trends almost always…
I had an interesting email exchange with a trader a couple of weeks ago, who is struggling with occasional massive losses. I've had the opportunity to speak to a LOT of traders over the last 8 years of writing these articles. You'd be surprised at how common this problem is. We discussed several options…
