I particularly like this trade.
Not just because it wins.
But because of the reasoning behind the trade.
Immediately it was closed I thought it had to be the basis for a YTC article, simply to demonstrate the entry pattern.
But on further thought, it actually displays many of the concepts we have discussed here at YourTradingCoach.com over the last six years.
Let's check out the trade from last Tuesday's Crude Oil markets.
Happy trading,
Lance Beggs
I've covered quite a few topics throughout 2014, but I believe the most important by far has been my attempt to have people looking for success over a series of trades, rather than on any individual trade. Not every trade idea works! But that's ok and that's normal. Keep the losses contained. And work…
We all love those trades that move straight from entry to the target. But unfortunately that’s not always the case. Sometimes the market likes to remind us that it doesn’t give a damn about our expectations. And that it prefers to instead screw around with our mind and emotions, to see if it can chop…
Last week we discussed my thoughts on trading a small account with one contract. See here if you missed the article – https://yourtradingcoach.com/trading-business/trading-a-small-account-with-one-contract-part-one/ We finished up by stating the following: It doesn’t matter which management style you choose; a higher probability smaller win target (like my “part one”) or a lower probability larger win…
I received some interesting comments about a trade in a recent article – https://yourtradingcoach.com/trading-business/the-good-the-bad-and-the-ugly/ Here's an image from the article, showing the entry SHORT against a single wide-range bullish candle. Review the original article if you want to see the context behind the trade. For now though, I want to discuss some concerns that…
Some days the markets are just messy. Choppy price action which does it’s best to whip you out of a trade before it moves on without you. The best way I’ve found to manage this (apart from just standing aside) is to accept the chop and work WITH it through focusing and finding a re-entry…
one of the best article with full concept with proof.
Thanks bharat! 🙂
Hi Lance,
It is regarding your second trade — where you written in chart to ignore
1.If we compare the 2 down swing — strength is increasing
2.If we compare the 2 upswing — strength is decreasing
3. price stall for 2 min your short on 3rd min
My question is — why did not wait for target (103.50 -103.60)??
Regards
Bharat
Counter-trend with no trap orderflow. This one had to work immediately or I was out of there. It stalled at entry so I scratched it. Potential reward did not justify the risk. Correct decision.
Hi Lance,
Love the new look. So fresh and clean.
It is so simple, but looking so awesome.Easy to read and navigate.
But you have given me so much of work. Have to go through all the archives beginning tomorrow.
All the best
Rajesh.
Thanks Rajesh. The archives are still only about a third complete. The rest will be spread over the next fortnight (or maybe month!!!). 🙂
Bonjour Lance,
I’ve been following you for over 5 years and I still enjoy….
the Colors of your website,
Your great charts,
Your teaching and your newsletter every weeks.
This last post is another example of your great work.
Cheers from Montreal 🙂
Thanks PiCoTrader! 🙂
HI Lance,
I like the new look, it is so clean & refreshed.
Thanks Naveen! 🙂
Hi Lance,
Can’t thank you enough for your articles with such insight.
Can you have one article on, where price seems to hover around support or resistance, it keeps on breaking it and failing again, how do you trade those and when would be the right time to enter trade in such scenario. It also does give big green or red bars and than fails again.
Thanks
Mitch
Hi Mitch,
Thanks. I’m glad you’re enjoying the articles.
This article comes to mind as I read your question – https://yourtradingcoach.com/trading-process-and-strategy/every-price-interaction-with-support-or-resistance-is-unique/
Perhaps it answers your question? The thing is, the answer really depends upon the context. Every situation is unique. If this doesn’t adequately answer your question, feel free to email a chart to me so that I can see the kind of scenario you’re referring to.
Thanks,
Lance.
Hi Lance,
Thanks for the reply, i have sent you a chart i was referring to. What email id should i sent it on. I have taken id from your contact us page.
Thanks
Mitch
I learned a lot from your videos and articles and your follower for long time.
Thanks a lot!
Thanks Tariq! Much appreciated. 🙂
hmmm! Last Friday I got out of NQ at 3540. No sooner did my order executed the market went another 20 points. But but I reminded myself of your saying from your videos : “I got out I did the right thing…….there will be more opportunities more setups”. Thanks a lot for teaching these lessons.
Each trade is just one of several that trading day.
Each trading day is just one of twenty that you’ll have that month.
Each trading month is just one of hundreds that you’ll have over your lifetime.
So it doesn’t matter if you win on this trade, or take a loss, or even miss the opportunity entirely.
That one trade is a small drop in the ocean of your whole trading career.
That was a winning trade, I took a big chunk on all my contracts but could have doubled. But no. There will be………………….
Hi Lance,
I think you are one of the best teachers I have ever experienced. You are so direct to the point and I feel every line of yours is a lesson to learn.
Why dont you have some videos uploaded on the examples of YTC Strategy…I think we can understand better…
Thanks Vijay! 🙂
Videos are quite time intensive. And many people don’t have the time to watch them. Information can be conveyed much quicker via text. Think for example the number of times you’ve sat through a 40-60 minute webinar or video only to realise at the end that it had no useful information at all. The same content in a 4 or 5 page article can be scanned in a couple of minutes and dismissed. Of course I’d love to assume that my video content would always contain valuable info… but the reason I prefer text still stands. It’s quicker and easier for me. And it’s quicker and easier for my audience.
That being said, I am looking to trial some webinars in the second half of 2014 for those who do like that delivery method. 🙂