I’ve shared this idea a few times now over almost a decade and a half of writing YTC articles. Surprisingly, it’s not something I’ve heard discussed by other educators. I doubt I’m the only one who thinks this way. But perhaps that is what you get when you question common advice. And you should always…
Context, setup and execution. A good trade will have considered all three areas before entry. And a good trade will have elements of all three playing their part in the outcome. The best read on market context will be worthless if you’re choosing the wrong setup for that environment (eg. constantly fighting a strong trend)….
Let’s start with an excerpt from a comment on last week’s article “Trading after Structure has Formed – 3“. “In the winning trade from yesterday’s post I’m wondering why you take partial profits so early. Your eventual exit is maybe five times further. This is not the first time I’ve noticed this in your trades….
Last week’s article led to a great question on twitter. Yeah, fair call. It does look ridiculously early. Here’s the trade we discussed in that article. Here was my reply: Let’s step through the entry and early trade management decisions. The vertical axis is a little compressed on the 1 minute chart so we’ll do…
If there is one thing I want people to take away from all these years of writing about markets, it’s an acceptance of the fact that you do NOT have to get every trade right. New traders have this incredible need to be right. I know because I was there myself once. And because I…
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…
I operate with three general levels of engagement – Trading, Trade with Caution, and Stand Aside. Because not all conditions in the market are the same. If you haven't done so, I highly recommend adopting a similar practice. Take some time to consider the factors that might trigger each level of engagement in your…
I seem to average an order entry error maybe once every two months. That's not too bad considering entry is via a single click. But it's something I will continue to work at improving. In the meantime, it's an opportunity to again present my ideas on how to best manage those times when you…
I received a question from a reader who made an exceptional trade but was concerned that he should have exited the trade much earlier, scratching for a small loss and then possibly seeking re-entry. I love this! I would typically expect most traders to be ecstatic about a win. But it's a sign of…
This was an interesting sequence of trades – three which I got completely wrong, followed by one which I finally got right. The key takeaways: You won’t always get it right. Sometimes your timing is out. Other times, like in this sequence, your assessment of bias is just wrong. Good entry location and good active…
