Candlestick Patterns – Morning Star
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How Quickly Can You Identify the Current Market Environment?
Here's a documentation & learning tip which can really add significant value to your trading knowledge, and in time to your level of skill and confidence. Create and maintain a knowledge base documenting everything you know about every aspect of market environment: How to recognise the environment / the features of the environment. The nature…
How did I know this trade would win?
First up… let's identify the higher timeframe S/R structure at the session open (18 minutes before the trade). We'll do that via two charts, the first using the day-session data only and the second looking at the overnight data as well. Now let's move forward 18 minutes on our trading timeframe to see the trade…
Profiting From What the Market Doesn’t Do
Sometimes in conducting our analysis and formulating trade ideas, it’s important to notice what the market does not do. The chart below is a 1-minute snapshot of the 6B (GBP FX Currency Futures, equivalent of GBP/USD for forex traders) from last night, Thursday 25 Mar 10. The market was established in a downtrend with a…
It’s All About Real-Time Contextual Decision Making
You've learnt the pattern or setup. Great. But that's not trading. Now work on the real-time contextual decision making around that pattern or setup. Look beyond the pattern itself to the wider context. Where is the pattern occurring within the larger timeframe market structure? What structure will suggest avoiding this particular setup? What structure…
Is Forex a Casino?
EMAIL RECEIVED AT YTC (Subject: Is Forex a (f…ing) Casino?) Hi Lance, As I said in the subject of my e-mail, did you ever have the feeling that all this trading business is only a f… casino? Time and time again I lose all my money in these damned markets. I get only a few…
Post-Session Chart Review
We recently shared some post-trade reviews from Josh, who is doing exceptional work in creating a trade review journal for his longer timeframe forex trading (daily charts). See the trade reviews here if you missed them: https://www.yourtradingcoach.com/trading-business/Trade-Review-Examples/ But a trade review journal is not the only option you have. Today I'd like to share a…