A trade is NOT over until the whole idea behind the trade is no longer valid.
If you're stopped out, or if you scratch the trade, the trade is NOT over.
Remain focused!
Watch for an opportunity to re-enter.
Lance Beggs
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It Wasn’t Mine To Take. But the Next One Will Be.
You can't catch every good price move. You can't catch everything. If you miss a good move, remind yourself: It wasn't mine to take. If it was, I would have caught it. Now focus. There is more opportunity coming and it needs your full attention. Happy trading, Lance Beggs
Failure Scenarios
I love this comment from David on last week’s article – Long is Wrong 2. The key part is highlighted. I’m actually really excited to see someone recognise the importance of watching for failure scenarios. Opportunity exists at the places where large numbers of traders get something wrong. The times and places where obvious expectations…
Entry Before Breakout – Example
This example comes courtesy of some email Q&A, from a reader of the YTC Price Action Trader: Email: Hi Lance, Check out this potential awesome entry before the breakout… Many greets, Image: (* Click on the image to open a larger copy in your browser) Reply:
Avoid These Trading Days
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…
What is Price Action Analysis?
I’ve received a great question in response to one of my old videos at YouTube: lots of traders criticize indicators (and correctly so, apart from the moving averages and RSI, I don’t find these oscillators or macd good) and prefer price action.. what exactly IS price action, I mean, what methods would you categorize under…
Is This a Trade You Would Take if You Were in Drawdown?
Some of my better trades lately seem to occur after a string of marginal trades which either stop out or seriously underperform. Mostly because of my rule which says that after two poor trades I need to step aside, clear my mind and reassess the situation. Time out! Reassess! It prevents a downward spiral of…