Trading Business

What did this Trader do Wrong?

The following chart was sent to me by a trader who just completed his very first futures trade. It shows the MNQ (Micro E-mini NASDAQ) on a 3 minute timeframe, YTC Price Action Trader BOF Setup off the overnight low and prior day’s low support. A one part position (all-in-all-out). He took a small loss,…

Trading Business

One Step at a Time

This is an example of an incredibly common question I receive from new and developing traders. Ok, let me first just point out that the “many courses” does not include my course.  🙂 That’s not the point though. The point is in the highlighted sections – all he does to date is lose money –…

Trading Business

The Warrior Trader

The following post was sent out by social media recently. Unfortunately social media algorithms result in only a fraction of followers actually seeing the post. And this one is IMPORTANT. So I’ve decided to include the post in both the newsletter and the blog, to help spread the message. Edge… not just through setups. By…

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…

Trading Business

One Trade Does Not Provide Enough Data

I think it's time we revisited a topic we discussed a few years back. The fact that an individual trade does not provide sufficient data to allow you to make informed changes to your plan. Changes MUST consider the impact across a series of trades. I see this problem repeatedly in email conversation with new…

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…

Trading Business

5 Steps for Daily Improvement

  The following screen capture was sent out via social media a fortnight ago. I think it's so important that I want this to go out to everyone on the newsletter list as well. Plus an entry into the blog for future readers. It's a quick response to an exceptional question – what are five…