Almost all trading sessions will contain one to two price sequences which are absolutely the best.
These can be the difference between an average session where you just grind out a small positive result and a great session where you hit it out of the ballpark.
The price sequences which make your day.
How you define a “must-trade” price sequence will vary from trader to trader. But for most of us they will be the largest and most directional price swings, with smooth price flow at a nice pace. Everything just right!
There can be value in reviewing these post-session.
- Which were the Must-Trade Price Sequences?
- Did I capture them?
- If so, how well did I perform? How did I recognise the opportunity? How could I have done better?
- If not, was it reasonable to expect that I should have caught them? Why did I fail to capture them? How could I have done better?
Let’s look at a couple of examples.
Another example:
Consider adding this to your post-session review, if you think it will offer value:
- Which were the Must-Trade Price Sequences?
- Did I capture them?
- If so, how well did I perform? How did I recognise the opportunity? How could I have done better?
- If not, was it reasonable to expect that I should have caught them? Why did I fail to capture them? How could I have done better?
Happy trading,
Lance Beggs
LANCE BEGGS where do you put your stoploss for each of your sell trade? 3 pips above the top of your entry bar?
best regards
The stop goes beyond some structural point which should NOT be breached, if my trade idea and timing are right. Sometimes this is the entry bar. Sometimes it’s the trading timeframe swing high/low. Sometimes it’s a lower timeframe swing high/low. As to distance, I usually put a partial exit at one tick beyond. And the remainder a little further.
The same idea works for trailing a stop. It should ONLY be moved to a level which should NOT be breached, while the trade idea remains valid. As shown in the example here, I didn’t get it right on this occasion.
Thank you very much. I have been wanted to do this post review but not sure how. Now i know. Thanks
You’re welcome Hans. I’m glad you got some value from the article. 🙂
Hi Lance, I am started learning price action and you are amazing. as a beginner i have one question ? Do contextual trading works life time?. I mean reading price action, momentum, weakness, order flow, strength of location, taking trades based on this give life time edge? My question might be silly but it’s helps a lot thanks
Hi Lakshmiarun,
An old friend of mine who I’ve unfortunately lost contact with had some data for the markets from the 1920’s. He could import this into his platform and trade it via a replay function. And he found that the ideas he uses for trading (based upon the same principles as my own) still work just the same.
Search online for some really old charts and look over them yourself.
Sure, things do change. Levels of participation and liquidty change. Costs of entry change. Volatility is constantly changing.
But the supply/demand dynamic which drives price movement, that doesn’t change. And I can’t see that it ever will.
Cheers,
Lance
Hi Lance,
Thanks for all the work you do. It’s really appreciated.
I’m just curious what instrument it is you are trading in these set ups? The time of day on your chart seems unusual for you and I’m wondering what market had enough liquidity at that time of day.
Cheers,
James.
Hi James,
I was trading the emini NASDAQ futures here (symbol NQ).
The timezone is set to US Eastern Time. It’s not set to my timezone.
And yes, it’s not ideal for my actual timezone. The session currently commences at 12:30am my time, so I’m working on permanent night-shift.