Lance Beggs
Or… Seek a Better Market
Lance Beggs
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Learning to Identify Key Setup Areas
Deliberate practice requires maximum exposure to price action and an ongoing process of learning through trial and error. Whenever you have a spare five minutes or so, a great exercise you can do to enhance the ‘maximum exposure’ part of your deliberate practice, is the following: Bring up a chart of any instrument you like…
Sometimes a Free-Trade is Not the Best Option
A trade is termed a free-trade once the stop loss is moved to breakeven, as it ensures that there is no longer a downside risk to the trade; only upside potential. However movement of the stop to breakeven is not always the best option. If done too soon it can take you out of a…
Find Your A+ Trades
Let's continue this recent theme… Focus on the areas of the market structure that jump out at you. The sequences that are so obvious, so easy, that you'd be kicking yourself if you missed the trade. Identify them. Study them. Learn from them. And then trade ONLY them… until you've got a proven edge….
A New Market Model – The Market As A Self-Deception Mechanism – Part 2 of 2
“Will you walk into my parlor?” said the spider to the fly;‘Tis the prettiest little parlor that ever you may spy.”… Mary Howitt Last week, we discussed a market model based upon the fact that the market is a mechanism that promotes self-deception. If you missed the article, read it first here: https://yourtradingcoach.com/trading-process-and-strategy/a-new-market-model-the-market-is-a-self-deception-mechanism-part-1-of-2/ The end result…
Counter-Trend Breakout Failure
I didn't trade this; I typically stop my session around 2am. But it's such a great example that I thought I should share it. (Yes… I get excited by price action!!! 🙂 Whatever you want to call this – turtle soup, pump fake, prairie dog pop – they're a great setup idea. (a) price extreme…
Support and Resistance 2 – Swing Highs and Lows
In the last article I stated that support and resistance (for me) is based on previous swing highs and lows, areas of congestion, round numbers and gaps. We’ll now review these types of support and resistance, discussing how to identify them, and how they formed. In this article we’ll start with my favorite support and…