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YTC Price Action Trader (www.ytcpriceactiontrader.com)

  #71 (permalink)

Elite Member
Vancouver, Canada
 
Futures Experience: Intermediate
Platform: Ninja
Broker/Data: IB and Scotia iTrade
Favorite Futures: futures, US stocks
 
anituchka's Avatar
 
Posts: 40 since Jun 2011
Thanks: 78 given, 37 received

Iíve been learning to trade and trading for the past 2.5 years (on and off). I read at least 30 trading books, you name it, I probably read it.

I started with indicators and then realized that price action was the way to go (for me). I spent considerable time (at least 6 months) reading Al Brooksí new books and trying to make sense of them. I liked them (clearly the guy knows what he is writing about) but I have been overwhelmed by the amount of detail he provides in his 3 volumes, yet lack of concrete steps of how to implement what he teaches.

What I have been trying to find, unsuccessfully, is a book that brings together everything and provides me with a STRUCTURE and a detailed plan of what to do, and not simply teaches me technical analysis or price action or psychology stuff.

I have been trading without a clear set of procedures and as a result could not become consistently profitable. I did not have a clear manual of what I do in a specific situation (I did have a trading plan but it did not cover all the situations that can happen, like recovery after a significant loss, step by step, what you do to get back to normal). I was even thinking of writing procedures down myself but didnít have enough creativity.

Then I stumbled upon Lance Beggs and his e-book: YTC Price Action Trader. What a great piece of work!!! His 5 strategies are simple to follow and yet they are described in enough detail, but much easier to understand that Brooksí books.

By the way, thank you Adamus for letting me know about Lance Beggs (I actually learned about him here on this thread)

What was priceless to me is the detailed trading plan (template with suggestions) and set of procedures/routines pretty much for every situation you can imagine. He was a helicopter pilot in the past, so following a detailed checklist is in his nature. He developed detailed checklists for trading and shared them in his book.

I am surprised his books are not more popular on trading websites/forums. His name is known but not well-known, which is a pity for all beginners-traders and struggling trades who lack a clear pathway. And no, I am not affiliated with him in any way.

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