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
Last week we examined losing trades from a mindset perspective (see here for article 1). This week, let's examine a different aspect of "winning through losing better" – using losing trades as a source of improvement. Wherever you currently sit on the P&L scale, whether consistently in drawdown, stuck at breakeven, or achieving some degree…
Tuesday's trade sequence reminded me of this article from last year – Sometimes It Takes Multiple Attempts. Where the market reminds us that it doesn't give a damn about our expectations for a quick move from entry to the target. And that sometimes, it would rather play a bit first and see if it…
Most forex traders know that when the markets are open during holidays the volume gets a little quiet. But how quiet? Without volume figures it’s not really possible to tell, is it? To get an answer, why don’t we have a look at the fx currency futures, which do have volume and will give an…
Last week we looked at the following chart sequence showing an obvious symmetrical triangle pattern within my higher timeframe chart. See here if you missed the recent article – https://yourtradingcoach.com/trading-process-and-strategy/higher-timeframe-pattern-breakout/ I don't know if I was somehow influenced by that article. I don't usually look for patterns on the higher timeframe chart. It's primary…
Let's look one final time at last week's trade sequence. The problem we attempted to address was one of continual attempts to fade long and extended price swings, finding that instead of timing that entry to perfection we more often than not end up with two to three stop outs, and a mindset destroyed…
I was recently asked on Twitter about my pre-session analysis. My response was simply that I've outlined the process in detail in the YTC Price Action Trader. However, since publication, I have added a couple of minor steps. Let's look at one today. It occurs just once a day, right at the beginning of…
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. 🙂