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My Trading Strategy:
Written by Lance Beggs
YTC Trading Newsletter (17 May 2013)
- Trading with the Right Expectations
- For E-Mini S&P Traders (or those who want to be)
- YTC Price Action Trader - Feedback
- Entry Before Breakout - Example
- Breakout Pause - Feeling the Stress Levels Rise
I have some good news for fans of the Intro to TA video series!
I've had many people asking when the next video will be
released. So I can imagine there must be even more people wondering
this same question, who haven't got around to asking yet.
It's been something like two months since the last video... far too
long in my opinion. And so, since I'm clearly lacking in motivation
to be able to fit this in around my current trading, I've realised
the only way I'll get this done is to create some external
motivation. So... no trading for me until I get the next video done.
I hate it when I don't trade. From Monday onwards... it'll be long
hours smashing out this video. Hopefully it'll only take a day or
two and I can be trading by mid-week. But whatever it takes, I fully
expect the S/R video should be published in the next newsletter.
In the meantime, I hope you enjoy this weeks articles!
Trading with the Right Expectations
One of the most common themes I see in emails is a tendency for traders to focus
too much on the individual trade.
Every day... "I can't believe this trade lost. Can you tell me what I did
Never do I get the following... "Looking at my longer term stats as they relate
to my last 20 trades, I see my win:loss size ratio down quite a bit compared to
the average across all samples of 20 trades. I have assessed the following
probable causes and solutions. I'd love to know your thoughts!"
This is not a game of individual trades.
This is a game of longer term results.
We've touched on this theme a little in recent weeks.
But the emails continue... so let's examine the idea one more time in a slightly
I don't remember when and where I first heard the following. But it really
stuck with me as a great way to develop a longer-term mindset. A great way to
trade with the right expectations.
Your last trade might have lost. That's fine. Learn from it if you could have
But as long as you didn't let the loss get out of hand, it's nothing unexpected.
Expect breakeven trades... it's just part of the game!
Expect many small losses... it's just part of the game!
Expect many small wins... it's just part of the game!
And while we're at it, expect many missed trades... it's just part of the game!
Aim for these misses, scratches, small wins and small losses to overall cancel
each other out, cover costs, and ideally grind out a small rising equity curve.
And expect the occasional larger win which gives a real boost to your equity
But under no circumstances should you allow your losses to become larger than
their initial 1R risk.
Expect scratches, small losses, small wins and the occasional big win. But... NO
Profit over the long term over a series of trades.
YTC Price Action Trader - Feedback
Some more feedback
from readers of the
YTC Price Action Trader.
I don’t know you, you don’t
know me; however, I’d like the opportunity of
communicating with your “List,” if I may?
I have to tell you and everyone
how impressed I am with this material! I
can't believe the time and effort you must have put into
this project. I am amazed that you can break this
material down so well for those who don’t have the
skills and knowledge, of a pilot – nor the math that
must be involved to fly, to understand the movement of
I am not quite a trader yet, I haven’t had a profitable
month yet. (I’m down less than one percent but that
isn’t profitable.) Do you know why? I couldn’t and
didn’t understand the traders behind the candles. If the
candles display an accurate representation of traders,
those other (candles) traders were leaving me behind and
I was guessing. I had no idea of how to view the candles
and therefore the market. I couldn’t really make sense
of the structure of the buyers and sellers as compared
to the size of the candles, the swing or thrust of them
or the order flow, or how to find the thoughts or fears
of the opponent. Now, I can say I understand the
information; it makes perfect sense with your
descriptions. I’m not saying that after two days and two
evenings I can ‘wear’ the information or react to it as
if it is a part of me yet. Man! I'm so impressed!!
You’ve made these charts and pages
into people with fear, greed, feelings and provided an
over-view of how to out-think (maybe just have more
knowledge) or out-smart your opponent (maybe have more
understanding) if you want to win.
Unbelievable information; all compiled so nicely
together that it makes sense. I believe this is the only
information that anyone would ever need to read and
understand, the market, to trade profitably. I believe
this is what I have been missing. I have been at this
learning curve about eighteen months (and I have spent
money each month – some months wisely, some not so
much). I haven’t taken any of the learning lightly.
Seems to me that educators don’t seem to get into this
type of information; you know, the kind that makes
everything else fall into place and make sense.
Your list has no idea how much information is
between only the pages of 100 and 200 (those are the
pages I zeroed in on). Those hundred pages are
worth five times what you are
selling the ‘books’, ‘course,’ ‘information’ for.
Market structure, whatever one is looking for, or
needing to understand, you have provided it all.
I horsed around for a while, maybe yes, maybe no,
finally, what the heck? I'm so glad that I did purchase
I hope others will see the value in it that I have seen
in such a short time. You have
given me more understanding of the big picture than I
ever expected, and in a very short time.
I wish you the best.
more information on the YTC Price Action Trader here!
See here for more testimonials.
For E-Mini S&P Traders (or those who want to be)
For traders of the ES, Mike Reed's education and strategy is one of the
I've been recommending over the last five years.
Once or twice a year Mike holds an online hotcomm-based Trading Camp to provide
more intensive training to a small group of eight people.
I've been informed that the next camp is scheduled for June 9th to 15th. And as
of writing this there are currently only three spots left.
If you trade ES and you've followed Mike's daily updates for a while, check out
the camp opportunity at
RBI Trading Camp. Click on the link at the bottom left that says, "Trading
Boot Camp" to get further info. (Note: there are no refunds for this so
please make sure the dates fit your schedule.) (Oh... and if you don't mind an
affiliate commission coming my way then let them know I sent you in the comment
section. If that worries you though, just leave it out.)
If you trade ES and you're not familiar with Mike, have a look at the material
on his site and sign up for his daily market updates.
See here and click on "Free Trading Articles & Videos" at the top left. If you like the
look of his daily updates, you may want to explore his teachings further and get
in line for the next camp!
Mike is the real deal. His strategy is based on solid price action and S/R based
principles. His trade management philosophy has been instrumental in helping me
with the evolution of my own active trade management approach.
I recommend very few people. For ES traders, Mike is top of my list.
Entry Before Breakout - Example
This example comes courtesy of some email Q&A, from a reader of the
YTC Price Action
Check out this potential awesome entry before the breakout...
Image: (* Click on the image to open a larger copy in your
Chart attached with my notes. There's actually not much more I could add.
Image: (* Click on the image
to open a larger copy in your browser)
Breakout Pause - Feeling the Stress Levels Rise
The above email exchange continued, with a response to my comment, "That's when
you know you've got a good setup. When you can feel the stress levels rising for
someone caught in a trap."
Thanx!!! I love the way you explain.... in general!!!
Every time you give me an extra detail to think about...:)
Learn from Lance....apply what you have learned...and profit. :)
"That's when you know you've got a good setup. When you can feel the stress
rising for someone caught in a trap" ...I have a appointment next week in a
to immortalize this quote ;)
Here we go...along with the previous example this could make a nice
Image: (* Click on the image to open a larger copy in your
Rather Be Trading For A Living...'
Contact Lance Beggs:
Contact Lance Beggs
The YTC Newsletter is published by:
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All material in this newsletter is subject to copyright, either by
the contributing author (as annotated with each article), or by
Lance Beggs of www.YourTradingCoach.com, as per the copyright notice
© Copyright 2013. Lance Beggs. www.YourTradingCoach.com. All
Trading the financial markets WILL expose you to risk,
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quitting through frustration or loss of funds well before they
If you are not yet
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Trading and Options trading has large potential rewards, but also
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PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL
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SIMILAR TO THOSE SHOWN
Discover the YTC Price Action Trader:
Learn How I Trade:
My Trading Strategy: