Every session… find at least one price action or market structure feature that you find interesting… and STUDY it.

I posted the following images to YTC Facebook and YTC Twitter recently:

Wide Range Bars with No Follow Through

Wide Range Bars with No Follow Through

Yes, you're lacking some context in examining the above trade (there is limited room on a facebook image). But the main point is not the trade itself, but rather the idea of identifying and studying one price action or market structure feature EVERY DAY.

If you do this after every trading session, you'll have well over 200 entries in your journal in twelve months time. How valuable will that be!

What REALLY pleased me was that a couple of days after the original post, I received the following comment from YTC reader Naveen:

 

This is one of my studies for today – failing wide range bars –

(Click on the image to open a larger copy in your browser!)

Wide Range Bars with No Follow Through

 

Great work Naveen! Keep it up!

I'm so thrilled to see someone actually studying the price action!

If you can also see the value in doing this each and every session, then add a task to your daily post-session routine to complete the activity. It only takes a few minutes.

Make it structured if you wish, via study of a current monthly or weekly topic. Or keep it unstructured and simply find something that you find interesting.

Either way though… Every session… find at least one price action or market structure feature that you find interesting… and STUDY it.

You'll thank me in a year!  🙂

Happy Journaling,

Lance Beggs


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4 Comments

  1. Another simple yet great tip from Lance and i would say this must be part of every traders routine to maximize their learning.
    Its a must for me now, just a simple process which doesnt take a lot of time but when we see it’s result overtime.. they are amazing :). Slowly we start to see patterns repeating, its all visual so becomes very easy to identify, analyze and separate patterns( imagine realizing you have seen similar action before and then looking for it in entire database, frustrating..isnt it 🙁 🙁 ).
    Another simple yet great tip from Lance and i would say this must be part of every traders routine to maximize their learning.

    1. It’s a little difficult to provide recommendations for further education, when I have no real insight into your current levels of knowledge or skill. So, I’ll start right at the beginning.

      Best place for basic Technical Analysis and charting education for a newbie is at the two sites linked to on this page: https://yourtradingcoach.com/trading-process-and-strategy/ytc-beginners-guide-to-technical-analysis/

      I’d then recommend a minimum of six months of trading experience (demo / simulated account).

      At that stage, if you’re still interested in trading, you might want to consider my ebook series: http://www.ytcpriceactiontrader.com/

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