Trading Process and Strategy

Step Back and Reassess

  Let's start with a daily chart to get some "bigger picture" context… And now down to the trading timeframe… A little side note regarding the entry: While it may not be immediately obvious, this trade is a variation on the YTC Price Action Trader PB Setup. The pullback is all occurring within the one…

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

Embrace the Suck

  Let's talk a little about mindset. Or more specifically about our expectations leading into the day. Because I suspect that the way I approach the game differs quite a bit from many other traders. The market has opened… It's all about expectations. I expect a really tough day… and embrace the suck. Source: Wiktionary…

Trader

Resume the Fight at a Time of YOUR Choosing

I sent the following post out via social media on Tuesday, prompted by some discussion with a trader who dug himself into quite a hole through doubling down on losses. This message is so important I thought I'd share it with my larger audience here in the newsletter. And also take the opportunity to expand…

Trading Process and Strategy

It’s All About Real-Time Contextual Decision Making

  You've learnt the pattern or setup. Great. But that's not trading. Now work on the real-time contextual decision making around that pattern or setup. Look beyond the pattern itself to the wider context. Where is the pattern occurring within the larger timeframe market structure? What structure will suggest avoiding this particular setup? What structure…