There Is No Singular “Right” Way to Trade
My journey into the world of trading was ignited by the Market Wizards book series by Jack D. Schwager. What captivated me was the realization that there were many different ways to beat the markets. Reading Market Wizards exposed me to traders who approached the markets from completely different angles. Some relied on advanced statistics […]
The Truth About the Day Trading Learning Curve
You might be wondering why a trading website would begin by repeatedly emphasizing how difficult the trading profession is and how long the learning curve can be. Some of you may even think that doing so is bad business for someone selling a course. And honestly, you’d be right. That’s exactly why many trading educators […]
How to Build a Trading Playbook That Actually Improves Your Performance and PnL
One of the questions I’m asked most often by traders is simple: “What does your playbook look like?” Or more specifically, how should a trader structure one? In this article, we’ll break down exactly what a trading playbook is, why it’s so important, and how you can build one in a practical way that improves […]
There is No Magic Bullet in Trading
Let’s be clear: there is no magic bullet in trading. There is no course that will magically turn you into a profitable trader, and there never will be. Just like studying Tom Brady won’t automatically make you a professional quarterback, simply watching a course won’t make you a successful trader. Real success comes from deep […]
How Important is Volume in Trading?
Price and time tend to get most of the attention in trading, but volume belongs in that same conversation. In fact, if I were forced to strip everything down and keep only one additional data point beyond price, volume would be it — without hesitation. After more than a decade of trading and reviewing […]
The Best Trades Don’t Look Back
They’re simple to convey, yet incredibly powerful in application. One of my favorite trading heuristics is this: The best trades don’t look back. This is a direct corollary to another principle you’ve heard me repeat many times: The best trades immediately go in your favor. Not only should the best trades work right away […]
Measures of Overextension – How to Tell if a Stock is Overextended.
Traders constantly describe stocks as “overextended,” but very few ever stop to define what that actually means. And while there may never be a single universal definition, effective trading demands precision. Overextension is no exception. If you’re serious about capitulation trading — or any strategy that relies on identifying exhaustion — developing your own […]
How to Avoid False Breakouts in Trading
We’ve all been there — buying the breakout above resistance, only to watch price immediately roll back below the level and stop us out. One of the most common questions I get when it comes to choosing good setups is simple: How do I avoid false breakouts? The honest answer is: you can’t […]
When Do You Add to Positions in Trading?
If you’ve been following along closely, I hope some of you are already yelling at your screens: “Lance, we know the answer — it’s all based on expected value!” And you’d be right. That alone would make me very proud. But knowing that expected value is the answer and knowing how it […]
Day Trading Basics – How to Define a Trend
“The trend is your friend” is one of the most famous sayings in trading, and without question, my favorite quote ever attributed to Jesse Livermore. This obsession started when I was early in my career and just beginning to break into the upper tier at Trillium. There are plenty of clichés in trading […]