Best book on trading I've ever read: Lance Beggs YTC Price Action Trader

Discussion in 'Educational Resources' started by anituchka, Jun 21, 2012.

  1. I’ve 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 Brooks’ 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 didn’t have enough creativity.

    Then I stumbled upon Lance Beggs site www.yourtradingcoach.com 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 Brooks’ books.

    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.
    :)
     
  2. A gem in the rough; indeed.

    Yep; let that man be.

    I think he likes flying under the radar.

    peace

    hedvig
     
  3. He gives away profitable setups or shares his own experiences aka account data?
     
  4. Of course not, that would make him a profitable trader and not a salesman.
     
  5. --------------------
    Are you slow?

    Read his 'blog' at his website. He is a trader 1st and a blogger/educator 2nd.

    Very solid trading methodology. See if it makes sense to you by reading everything on his site and/or blog.

    Then you decide; fair enough?

    peace

    hedvig
     
  6. Why do you evade my question? :eek: :cool: Scared?
     
  7. ----------------
    Do your own work; eyes off the other students papers!

    ty

    peace

    hedvig
     
  8. so this guy does not backtest.
    does not provide account data.
    so no way of knowing whether his strategy is positive $$$$.
    for all i know he sells a negative $$$$.
    I simply don't know, you don't know, only he knows.

    :eek: :eek: :eek: :D :D :D :confused: :confused: :confused:
     
  9. greddy

    greddy

    I visited Mr. Beggs's website.

    It is one of the best explanation of price action I have
    ever seen. The writing style flows very nicely,
    and is absolute proof that price action can be
    explained in an understandable way.

    Too bad his book isn't published by Wiley and
    sold on Amazon.

    Thank you very much for posting the link.
     
    #10     Jun 24, 2012