For Setup Definitions and discussion – see Vol 3, Ch 4, Pages 25-41
For those with the YTC Price Action Trader, you’ll note that the entry is exactly at the point I define as the LWP. Refer to Volume 3, Chapter 4, Pages 72-77 for discussion on the LWP concept.
Happy trading,
Lance Beggs
Just over a month ago we discussed the fact that the majority of my trades lately seem to fit within one of two broad categories. (For those with the YTC Price Action Trader, the first category will include all variations of PB, CPB and BPB trades. The second category will include all variations of…
I don't often reverse a position when stopped out. Usually the failure of a trade in one direction does NOT automatically mean that the opposite direction offers good opportunity. Most often when they do occur it's because I'm attempting a counter-trend trade and find myself caught in a trap. The stop and reverse allows me…
I get asked from time to time whether I ever "stop and reverse" a trade. That is, enter SHORT when stopped out of a LONG position. Or enter LONG when stopped out of a SHORT position. The reality is that I don't do that often. The failure of one trade is usually NOT an…
Losses are not something to fear. They provide valuable information – either your bias was wrong or your timing was out. The chart below shows the 30 min 6B chart (GBP/USD equivalent) prior to the UK session yesterday 8th July 2010.
With hindsight, Tuesday's Crude Oil session started off the first few hours as a narrow-range sideways low volume market. Note to self – I've often said I should avoid rollover day. One day I should listen to myself. In a ranging market, the best opportunity is usually found at the edges, in particular when it…
This is a tough way to start a session: Happy trading, Lance Beggs
Thanks for the article, Lance. I look forward to them every week.
Enjoy the Easter weekend!
You’re welcome Alan. I’m glad you find the articles useful.
Have a great weekend,
Lance.
I appreciate the article Lance, thank you.
You’re welcome Marcus. Thanks for the feedback. 🙂