Performance

Trader

Pre-Accept All Possible Losses

  Last week we discussed a simple technique that helps keep my mindset focused on the price action, rather than on my P&L, after suffering a trade loss. You'll find last week's article here if you missed it – https://yourtradingcoach.com/trader/its-how-you-choose-to-react-that-makes-all-the-difference/ So this week… I want to go a little deeper. Because there is something that…

Trading Process and Strategy

Quality Vs Quantity

  Trading offers you incredible freedom of choice. You have almost complete control over when and where you will take on risk. And of course, how much risk. But while this freedom is great in theory, it's potentially devastating for many who are still searching for their edge. I suspect MANY developing traders would find…

Trading Process and Strategy

Chasing Performance

  Here's a little post-session exercise which may help stretch your performance to "never-before-reached" profit levels. Pick a target just above your all-time-high for a trading session. Whatever that is – $100, $500, $1000, $5000 or more. And ask yourself the following. Looking at the chart for today's session, with the benefit of hindsight, how…

Trader

Improving and Maintaining FOCUS for Day Traders

  This is not for those who trade longer timeframes. If you trade the 15 minute chart or higher then you should NOT be aiming for constant screen watching all day. Set alarms to monitor price on completion of each trading timeframe candle. And price alerts to bring your attention back to the charts at…

Trading Business

A 50% Win Rate IS Enough

  I love this recent email exchange with a new trader… Email received: (We'll come in mid-stream as the earlier conversation is not relevant to this article!) Great Lance, thanks for responding and giving me all this information. I plan on trading highly liquid stocks and probably the intraday with the occasional swing trade. I've been…

Trading Process and Strategy

Trader Performance Drills – Part Two

  It's six years since we last looked at this topic. Wow! So it's definitely time to revisit it. Check out the prior article if you want to see the original drills – https://yourtradingcoach.com/trading-process-and-strategy/trader-performance-drills/ Today we'll discuss a drill that I've quite enjoyed from time to time over the last six months whenever I've had…