Happy trading,
Lance Beggs
Similar Posts
Improving Focus – The Essential First Step
For the last year or so my trading computer has been on a desk just to the left of my work computer. This has been fine except during quiet periods of price movement, when I've often found myself tempted by the work computer. All I have to do is turn to the right and…
You Don’t Have To Trade EVERYTHING
This chart is from Thursday 19th March 2020. A couple of quick trades and then STOPPED. Done for the day. Why stop? Because today was a Hit & Run day! Trading is a performance activity. And it's our job to manage ourselves in an attempt to get as close to peak performance as possible….
How to Kick-Start Your Growth and Development
If your progress has stalled in any way, it is just SO IMPORTANT to realise the following truth: Progress comes from your growth and development plan, not from your strategy. This just won't work: Hoping, wishing and praying doesn't work. Just trying harder doesn't work. You need something ACTIONABLE. Let's fix it NOW: STEP…
Fitting Trading Into Life
This doesn't sound too appealing, does it: 10:30pm – Trading Preparation 11:30pm – Market Opens – Commence Trading 01:00am – Stop Trading – Commence Post Session Review 02:00am – Wind-down 03:00am – Bed 07:00am – Up to get the kids ready for school (etc) Late to bed; and a serious lack of sleep. And it’s…
Linking your Trading Journal to your Charts
My current business practice is for the use of an electronic trading journal spreadsheet, plus hardcopy printouts of charts. For those though who prefer to operate all electronic, saving on folder after folder of hardcopy printouts cluttering your trading office, the following is a simple Excel trick to allow you to easily find the chart…
Every Price Interaction with Support or Resistance is Unique
The following image was posted a few days ago on facebook and received more "likes" than any other YTC facebook post so far. So I thought we should examine the concept in a little more detail. (By the way… see here for YTC Facebook if you're not already following it: http://www.facebook.com/yourtradingcoach)
hi lance , what do you mean by life outside of trading
thx
Life outside of trading refers things such as:
– Being physically, emotionally, mentally and spiritually healthy
– Being financially secure (sufficient income to cover expenses)
– Having supporting and loving relationships
– Having time for trading and the other things you love
– Having interests outside of trading
etc.
From some email Q&A with another reader, in relation to the idea of winning with the “pre-session routines” and “post-session routines”:
Q. What do I need to focus on for the pre market open?
Q. What should I focus on in the post market?
The intent of the article was to have people work towards:
(a) Ensuring consistency in performance of both routines.
This will require that (i) both routines are documented so that standard process is followed each day, (ii) life and family routines allow time for completion of the pre and post-session routines, and (iii) motivation is maintained to ensure they’re completed.
Essentially, it needs to become a daily habit.
(b) Ensuring that the pre-session routine is effective in having you fully prepared for the session.
This will evolve over time as you gain expertise and identify deficiencies or strengths within our routines and your trading processes. Trial and error! 🙂
But the aim is that you approach the session ready from both a technical perspective (platform set up, all pre-session analysis complete) and a personal perspective (focused and ready physically, emotionally, mentally and spiritually).
(c) Ensuring that the post-session routine is effective in driving further growth and development.
Again this will evolve through a process of trial and error, until you find something that works well for you. YTC Price Action Trader provided my routines as at the time of publication. Use them as a starting point, if your own routines are not yet clearly defined.
The aim is a process which continues to bridge that gap between where you are, and where you want to be.
Lance,
Your map for trading success goes beyond trading and is a formula for any endeavor one wishes to take on. In fact, the map is a guide for living one’s life.
Really wonderful work Lance. I’ve been following you for years, I think from the beginning. You’re a class act!
Thanks Lauren,
Much appreciated! 🙂
All the best,
Lance
Lance,
Appreciate this post and it has been something I started working towards in the last 3 months (based on your earlier advice). I have quit my high stress, long hours and long commute job for a laid back and work/life balance job. The difference has been day and night in terms of the energy and time I have now.
I have started using this time to work on my health and now that I am getting my life in order, I am starting to read your material and hopefully carry this momentum into my trading.
Farhan,
That is absolutely fantastic news. Congratulations on taking decisive and courageous action to put your life in good order. I hope the longer-term benefits of a healthier mind and body continue to extend throughout all other aspects of your life… including your trading career.
All the best,
Lance.
PS. You’ve made my day!!! 🙂