Candlestick Patterns – Piercing Pattern
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Every session contains learning opportunity! In fact… multiple learning opportunities. Review EVERY one of your trading sessions. And find something! Whether it's in something you did poorly, something you did really well, or perhaps even something you missed entirely. There's a lesson. Find it! Whether it's a new insight. Or reinforcement of the basics. There's…
Good Trading Isn’t Just About Winning Trades
There were two lines in last week's article, which I want to continue exploring today. Good trading isn't just about winning trades. Just as important is managing yourself during those times when you don't have a good read on the market. This business is HARD. And I tend to perhaps focus on the negatives a…
Focus on the Right Timeframe
I operate with three timeframes: Higher Timeframe – Defines the S/R structure within which the trading timeframe moves. Trading Timeframe – This is used to define the trend, market bias and to identify setup locations. Lower Timeframe – This is used to fine-tune my trading timeframe analysis and to time entry and exit decisions. I…
“No Play” Zone
A late pre-session breakout of key price levels… you know I love that. But there was one factor which suggested that I should be in no hurry to trade. Step back a little, define a “No Play” zone, and wait. Hindsight will show us it wasn’t necessary this time. But there are places on the…
Is this Market Bullish or Bearish?
For all those times I'm asked by email, "Why were you selling today when the market is bullish?" or "Why were you buying today when the market is bearish?" So when someone says that a market is bullish… or that a market is bearish… that actually means nothing without some idea of time scale….
Is This a Stupid Trade?
Email from a YTC reader who I'll leave anonymous! 🙂 Hi lance. How are you? I wanted to ask you, do you use hard stops or mental stops? I had a trade today go wrong on me because I think either my stop was too tight or I shouldn't have used a hard stop….