Trader

The Good News About Bad Market Openings

I love market opens. The time of day that typically offers the greatest pace and potential for range expansion. But let’s be honest – sometimes they suck. I have a rule – two failed attempts at something and I consider standing aside. Three failed attempts and it’s compulsory. Today I’m standing aside after two attempts….

Trader

A Useful Belief

You Can Do Better Your understanding of market structure and orderflow can be better than it currently is. Your pre-session routine can be done better than you’re currently doing it. Your trading state (physical, mental, emotional, spiritual) can be managed better than you’re currently doing it. Your assessment of bias can be done better than…

Trader

A Confidence Boosting Progress Check

We’ve talked for quite a few years about tracking your trading results in “groups of trades”. And using the stats from those groups to drive your growth and development. (If you need a larger copy of the original flowchart image, I believe this was the first article it appeared in.) It can be very tempting…

Trader

Followup to “Today – Anything Can Happen”

There was an article sent out four weeks ago (Today – Anything Can Happen) which discussed a simple mindset trick to help you separate your narrative about the world from your job of recognising and adapting to the actual market bias. While the “real world” suffers through the ongoing trauma of 2020… it can be…

Trader

Managing Anxiety While In A Trade

  The following is a great question from YTC reader Aaron. I thought this would be worthy of entry into the blog and newsletter as it's a question which will be relevant to anyone who allows discretion in their trade management plan. And I'm really keen for anyone else to add their ideas and thoughts…

Trader

Today – Anything Can Happen

  I sent out the following social media post last Saturday: All-time highs in the NASDAQ! Incredible when you consider where we were just two months prior. And of course when you consider the current state of the world. But that's the nature of markets. They don't care what we think. So I thought I…

Trader

Trader Motivation

  For the first time in maybe a decade I'm not writing a post this week. Not because I lack motivation. But rather, because I've come across an exceptional resource (from Alex Vermeer) that I want to share with you. The journey to becoming a trader is a long and frustrating one. So the more…

Trader

Step Back – Define the Edges – and Wait

  Let's talk about recovery from a poor start to a trading session. Like this one… So here's the plan in three stages… Whenever you step away from a chart and miss a sequence of price action, you can almost always look back at it with hindsight and see opportunity that you could have taken….

Trader

Do NOT Make the Same Mistake Three Times

  Ideally, you won't make the same mistake two times. But it happens. So here's an idea. Use that second occurrence as a trigger to INCREASE AWARENESS and FOCUS. And make absolutely certain that you do NOT make the same mistake a third time. Clearly there is something wrong with your execution or decision making….