Happy trading,
Lance Beggs
Happy trading,
Lance Beggs
From time to time I receive a question at www.YourTradingCoach.com asking the winning percentages, or accuracy rates, for each of the individual candlestick patterns. It’s a reasonable question. The trader is hoping that by establishing the probabilities of success or failure, they can then focus more on the higher probability patterns and minimise their exposure to…
I do very much like a large Gap Open with a strong Opening Drive. But do you know what's better than a large Gap Open with a strong Opening Drive? How about a large Gap Open with Opening Drive failure and reversal to the opposite direction! We have discussed traps at (or just before)…
Hindsight analysis is always suspect. Our normal human biases have us believing that we would have made the optimal trade decisions. After all, they always look so simple with the benefit of hindsight. So I'm always hesitant to provide my thoughts on someone else's trade review. But it's the Christmas / New Year week…
I love this comment in response to last week's article (see the article here if you missed it). This was the trade Steve is referring to: Too many traders take the loss personally. As Steve says, they're stuck in the mindset of "Aaargh, I did it again." Their focus is on themselves and their…
This is a question I get from time to time. Quite a reasonable question, I guess, for anyone used to trading on much longer timeframes. The answer is simple. And if you do it right you’ll find that there is plenty of time. Even on a 1-minute chart. Let’s repeat that for effect… Lower timeframes…
REFERENCE: Definition of a sideways trend – Vol 2, Ch 3, Pages 99-102 Not all trade setups are equal. You need to collect and review your stats to determine which setups provide your A+ MUST-NOT-MISS potential opportunity of the day. For me, the first pullback in a NEW directional trend is one of these…