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

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…

Trader

The Hardest Trade

  What do we do here? Well there's not a lot we can do. It's missed opportunity. And yes, I know that with hindsight we can look at the lower timeframes and find ways we "could" have got in. But we're not hindsight traders! It's missed opportunity. It's gone. And our job is now to…

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…

Trader

What’s Going On when you Hold Past the Stop

  I'm always fascinated to hear from traders who have trouble exiting a trade at the stop loss. The ones who move the stop loss further away to avoid the exit. And then move it further. And further. Until eventually, they can't take the pain any more, so they get out of the trade and…

Trader

Learning from Baseball’s “Mental Reset”

  I recently sent out the following two posts via social media, discussing the importance of having a plan in place to quickly clear your mind and get back into the game, whenever you sense frustration of any kind: In response to these posts, I received the following exceptional email: Hi Lance, I liked your…

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…

Trader

Trading Alongside the Uncertainty and Fear

  I shared the following post via social media on Wednesday:   Without doubt, this is one of the key lessons we must learn on the way to becoming a professional trader. And so I was incredibly pleased to get the following reply: Brilliant! Thanks A.H. This is exactly the right approach to the presence…