My aim in this article is simple – to stop you “tweaking” your approach based upon the results of 2-3 trades.
So, what are your stats for the last twenty trades?
You don’t have any? Perhaps that’s the problem. Start recording stats now!
Or were your last twenty trades inconsistent with respect to strategy or method of application? Maybe that’s the problem. Commit to ONE method for a full series of twenty trades. Don’t quit and mess with the idea just because you start with three losing trades. Complete the full twenty.
Can you do the above steps?
It won’t give you instant success.
But it will make it clear exactly where you stand right now.
And it will provide a simple framework for improving.
You can do this… twenty trades at a time!
PS. One assumption – that you do actually have a valid strategy that can provide an edge!
I, like practically everyone else look forward to your Friday morning posts (EST of course!).
My favorite, and I suspect I’m not alone, is lots of charts showing your analysis from start to finish of successful trades. It gives me confidence that I can re-create exactly what you’re doing and gain some big insight to unlock the secrets of the market.
At the end of this post I felt a little cheated I’m embarrassed to say. Where are the charts, where are the trades, where is the price action analysis?
I just reread this for the 4th time. You hit the nail right on the head. There are a lot of would-be-traders out there like myself who need to implement this more than anything else you’ve written. We need to do the work and do it with a plan. That plan must be to continuously improve OUR trading, not keep combing through yours.
Losing 3-4 trades right off the bat and dumping that strategy dooms us to never improve. It seems like dropping it is the right thing to do. Thanks for hammering home that it’s the wrong thing to do.
Let’s get to work guys.
BTW – For the lurkers here who haven’t picked up the YTC Price Action Trader…….buy it today. Don’t wait, don’t think about it. Buy it. There is nothing you could spend the money that will help you reach your trading potential better.
Love your work! Thank you so much for your great feedback and kind comments. 🙂
I must say that I expected a bit of negative feedback for this article, for exactly the reason that you’ve suggested – lack of charts and analysis.
The volume of email feedback has been about three times the usual amount I receive for an article, and interestingly, it’s ALL incredibly positive.
It’s really pleasing considering how important the topic is, despite being such a short and simple article.
I guess simple truths have that effect. 🙂