Taking Action – Alternate Strategies

If having done this course and reading these article you find the strategy does not suit your psychology, or your view of the markets, or whatever else, that’s absolutely fine. You can develop your own approach, or refer to our Resources Page for recommended alternates: https://www.ystc.in/resources and our bookstore.

This course series and articles will have provided you with a good foundation, and an understanding of the type of processes you’ll need to develop.

You will need to clearly document the fundamental principles behind how you see the markets and price movement, and where that offers trade opportunity. From there you will develop your trading plan and your procedures manual. This will take time, via another process of trial and error.

To discover the fundamental principles behind your strategy, you will benefit greatly from a period of time just watching price action.

Study live markets for as long as necessary, to gain a feel for how it moves. Study the different environments and the way price moves within each.

When comfortable with the movement of price, only then look for the trade opportunity within that movement. How can you identify the opportunity in advance? How can you gain a wholesale entry within that setup area?

In my opinion, it’s all about how price interacts with areas of previous supply/demand imbalance. You may not like my way of identifying and trading these areas, but by watching price and volume as it interacts with areas of S/R, swing highs and lows, and pullbacks within a trend, you’ll find your own patterns for future price movement and for possible trade opportunity.

Remember though, trading is NOT about fixed rules or simple setups.

I’ve provided rules and structure within this course with lifetime access to articles, as I’ve attempted to define what was largely a subjective and intuitive process as clearly as possible, for learning purposes. But within my rules there is much room for subjectivity. You’ll need to do the same. It’s how the market works!

Remember

It’s not about simple rules for providing certainty. It’s about getting better at making subjective decisions in uncertainty.

Having defined your strategy, I then recommend implementing the same process defined in The Development Stages, for advancing through the four stages of trader development.