Question:
Answer:
Here are some ideas:
Strategy development:
Work on psychology:
Improve the recording of your stats:
Replay and Review prior sessions:
Develop your Market Structure Journal:
General reading:
Happy trading,
Lance Beggs
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…
If you're not on facebook (http://www.facebook.com/yourtradingcoach) then you would have missed this recent Q&A: Question: (in response to a repost of this old article: https://www.yourtradingcoach.com/trader/trading-psychology-from-a-9-year-old/) I saw this in your recent article, "And I certainly believe that the career of a trader does provide significant benefits for society (a subject for another future article perhaps)"….
My email inbox is filled with some serious “bang my head against the wall” moments. People not making any progress after SO LONG. And yet they don’t have any serious review process in place. There’s nothing anyone can do for these people. They are like cannon fodder in the markets; for as long as they…
For the last seven years I've been highly recommending traders keep a Market Structure Journal for recording and studying any interesting market structure and price action observations. In my opinion this will become the greatest book in your trading library, by a long margin. Certainly the most valuable in terms of quality content. Every…
Here’s another great email question from a reader… Question: Hello Mr. Beggs, I am serious about trading, but I am still a newbie. What are three things that I can practice to improve my performance that can be repeated a lot and will continuously provide me feed back on my results? You currently being a…
As NinjaTrader is my primary platform (and also appears to be for many of my readers) I thought I'd add a page to my website with any tips and techniques that I've come across. The intent is to not cover anything that should be obvious from use of the primary toolbar or menu items (such…
Hi Lance,
Awesomee. I really love the way you have explained it. Thanks a lot again.. 🙂
Thanks Jagadeesh! This was a tough one to hit “publish” on. I really didn’t know how it would be received! 🙂
But you nailed it as always.. 😀
Yup. .
I believe once a feel for price flow has properly been developed, one can outperform most system based trading methods. Just my novice opinion though.
Really great article.
Thanks Marcus, I agree entirely! 🙂
You are right. On trades with clear edges, I can realise the calmness. The ups and downs make me to follow the price flow and manage the trade without any anxiety or tension or doubt. And after closing the trade, I can feel the satisfaction in the trade irrespective of the outcome. That feels amazing. Thank you for the edge (Mr.Beggs).
Tom James
Thanks Tom,
I love this comment, “I can feel the satisfaction in the trade irrespective of the outcome”
That is a key part of becoming a trader! 🙂
Cheers,
Lance.