Happy trading,
Lance Beggs
Similar Posts
Anticipate – Don’t React
Here's a great question I received recently from another trader. Let's start by defining the terms, as it's obvious that any decision to enter must be a reaction to some "decision making input". But that is not what was meant. The question is asking: Do I anticipate every setup, meaning that it's pre-considered and…
The Double Failure Pattern (Revisited)
When I identify a setup area based upon the structure of the market, one thing I absolutely love to see is a double failure pattern. The double failure pattern was discussed in a prior article (https://yourtradingcoach.com/trading-process-and-strategy/the-double-failure-pattern/) and involves two failed attempts to breach a significant structural area of the chart. Entry is on the failure…
Trade Management is More Important than Trade Entry
Over a series of trades your trade management decisions will have greater impact upon your P&L than will your entry. Almost daily I get emails asking why a certain trade didn’t work. Almost every time, the trader is missing the point. Trades don’t always work. Our profit and loss comes not from any one particular…
Support Becomes Resistance – A Trade Example
Once broken, key areas of support will often act as resistance. Vice versa for key areas of resistance, which when broken will become future support. Let’s look at an example, of support becoming resistance. The beauty of this example is that it’s a challenging one from a trade management perspective (especially for people like me…
Support and Resistance on Composite Indices
Every now and then I get a question I just can’t answer, which is great because it gives us both an opportunity to learn. If anyone can help with this, I’d love to hear your thoughts. Please email me. Here’s the email Q&A… Hi again Lance, I have a real question to ask as I…
Don’t Confuse Knowledge with Knowing
“You can know the name of a bird in all the languages of the world, but when you’re finished, you’ll know absolutely nothing whatever about the bird… So let’s look at the bird and see what it’s doing – that’s what counts. I learned very early the difference between knowing the name of something and knowing…