The strategy shared withinYTC Price Action Trader is a discretionary method of trading. It is not a simple “buy on trigger A and sell on trigger B” system. Such simple systems do not work, no matter how much we wish they did. Spend a day surfing any of the numerous systems forums and you’ll see this for yourself. Many systems are presented which appear to offer great potential, generating excitement amongst the forum participants and a flurry of posting activity. Ultimately they fade away to nothing as the participants discover the system fails to deliver consistent results, or they become frustrated as it morphs into a completely different system as filter after filter is applied to try to overcome its limitations.
Author’s Introduction:
Welcome to the YTC Price Action Trader. I have two primary aims for this book.
- To share with you the way that I view the financial markets and the way that I use price action to identify and manage trade opportunity.
- To share with you the development process that I believe you need to follow in order to become a consistently profitable and professional trader, regardless of the strategy you choose to implement.
Of these two primary aims, the second is by far the most important. New traders mistakenly believe success is all about the right knowledge and the right strategy. While this is important, they fail to understand that becoming a trader is really a process of growth and development. Success is not a result of one day finding the right combination of indicators or parameters and the right set of trading rules. Success comes through a process of learning to trust yourself as you operate within an environment of uncertainty. Trusting your ability to make effective decisions, to manage risk, and to identify and manage opportunity.
In drafting this book I initially placed this material at the beginning, prior to any discussion of strategy. My fears though, were that too many would be tempted to skip over this information in an attempt to get to what they perceived to be the higher value material – the strategy. So, right or wrong, I’ve reworked the text to place this material at the end. And to be honest I feel it works better this way.
The real learning begins beyond the final pages of this book as you gain exposure to the uncertain nature of the markets. By structuring the book as I have, the routines and procedures required to ensure an effective learning process will be freshest in your mind. If I have done my job well, you’ll clearly understand the path that lay ahead of you and be approaching that journey well prepared for the challenges it will provide. You’ll have a newly discovered interest in learning theory, decision making, trading psychology, as well as risk and money management. But don’t worry… we will discuss markets and strategy as well.
Contents:
- Principles of Markets
- Market Analysis
- Strategy – YTC Price Action Trader
- Trade Examples
- Other Markets, Other Timeframes
- Money Management
- Contingency Management
- Goals & Targets
- Trading Psychology – A Practical Approach
- Trading Platform Setup
- Trading Plan
- Procedures Manual
- Additional Documentation
- The Journey
- The Learning Process
- Taking Action
YTC Price Action Trader (All 6 Volumes) By Lance Beggs pdf
