All Market… All Timeframes.
1. Determine the bias
2. Enter on a trap setup against the bias
The following provides an example for longer timeframe equities traders, using a Weekly / Daily combination.
Note: These were not traded live. I trade lower timeframe futures. This article is simply demonstrating the concept for educational purposes.
Lance Beggs
One area where many traders struggle is with counter-trend entries; such as reported through this email comment: "My numbers show a profit when trading with the trend but that just gets destroyed by the trades which are against the trend." My first suggestion is usually short and straight to the point: STOP trading counter-trend! Simple,…
Sometimes in conducting our analysis and formulating trade ideas, it’s important to notice what the market does not do. The chart below is a 1-minute snapshot of the 6B (GBP FX Currency Futures, equivalent of GBP/USD for forex traders) from last night, Thursday 25 Mar 10. The market was established in a downtrend with a…
I'd like to share a great question received this week which highlights a number of recent topics that have been discussed via the newsletter or blog – the irrelevance of individual trades, the imperfection of ALL exit strategies, plus patterns vs context and the way price movement influences other traders' decision making. Question: I stumbled…
The following is an extract from some great Q&A with one of the YourTradingCoach newsletter readers: Question: Lance, I have been watching those videos on your website and the more I watch them, the more sense they make. They are great, but as you may have guessed I have questions. Firstly, your style of…
The last week was quite tough in many markets, with lots of sideways action and the occasional sharp directional moves in-between. In tough environments, it pays to be VERY patient. Don't push trades. Wait for the A-trades only; the ones which are screaming out to be taken. One that screams out to me is demonstrated…
This article is in response to a great question from a YTC reader: How do you conduct analysis for a market that is in "No Man's Land", i.e. in an area where there are no S/R levels. I'm looking at the NQ right now and it's trading above it's recent historical levels, so there are…
