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Lance Beggs


Lance Beggs is a full time day-trader with a current preference for both forex and equity indices. His style of trading is discretionary, operating in the direction of short-term sentiment within a framework of support and resistance.

As an ex-military helicopter pilot, Lance has maintained links with that industry through active involvement with the Army Reserve in the field of Aviation Safety. He has an interest in applying the lessons and philosophy of aviation safety to the trading environment, through study in human factors, risk management and crew resource management.

He is the founder and chief contributor to, which aims to provide quality trading education and resources with an emphasis on the ‘less sexy’ but more important aspects of trading – business management, risk management, money management and trading psychology.


My Favorite Trading Strategy

What I'd like to do in this very short article is give you an overview, looking at the strategic level, of how I trade my favorite setup, which will be the one referred to in most of the analysis on my website. We're talking, 'the big picture'. Too many people make a critical error in focusing exclusively on their entry triggers, and trying to enter on every occurrence of that signal, without ANY consideration for where that trigger is occurring within the bigger picture market structure..... READ MORE

Price Analysis - a Top-Down Approach

Discover how I analyze price. Price analysis for me is essentially a top down approach, working from the macro level of Market Structure (so we analyze the big picture first), then down to the current Trend within that structure, and only then do we look at the current price pattern, whether through candlestick analysis or whatever other method works for you..... READ MORE

The Hidden Secret of Technical Analysis

Did you know that there is a whole 'other world' of technical analysis that most novice traders are either totally ignorant of, or fear to go due to the fact that it might actually require some work? Well, there is! And I'd suggest that if most novices fear to go there, then perhaps it might be worth some investigation..... READ MORE

Dealing With Market Uncertainty

The nature of the markets is uncertainty. When you enter a trade, no matter how skilled you are at analysis, there is no certainty in outcome. So how do we, as technical analysts, attempt to work within the uncertainty of price action?.... READ MORE

Trading Psychology - Doubt

Trading is hard. You have many lessons to learn, and it takes a lot longer than most of us expect. It's not enough to just develop a positive expectancy system. You need to also learn the lessons of risk management, money management, and overcoming the many challenges of a negative trading psychology. It's natural that at times we will start to doubt ourselves and our ability to trade. We doubt our ability to meet this challenge. So what's the solution?.... READ MORE

Trading Problems - Maintaining Focus

Maintaining trading focus can be difficult. Not only will you face distractions from external sources, but you also face internal distractions from your negative fear-based trading mindset. In this article you will discover a simple but effective tool to help you minimize distraction, and maintain your focus on the job at hand - consistent application of your trading plan..... READ MORE

Stop Losses - My Biggest Downfall

I got another email this morning - "...Sticking to stop losses is my biggest downfall, any suggestions?" This is such an important question and such a common question, that I felt I should share my answer..... READ MORE

Why Price Moves - An Introduction

You'll find in many trading books, websites or courses a statement to the effect that 'price rises because there are more buyers than sellers', or 'price falls because there are more sellers than buyers'. While I understand what the author is trying to say, it's not quite correct. There are not more buyers than sellers, or more sellers than buyers. Any transaction involves both a buyer and seller. The number is the same - one buyer and one seller. So, across the whole trading session, the number of buyers will always match the number of sellers. It's fairly obvious when you think about it. So, why does price move?.... READ MORE

Trading - A Common Indicator Mistake

There are many problems with calling something like this a strategy, but the one I want to discuss today is simply that each of these indicators belongs to the same class of indicator. The RSI, the stochastic and the Williams %R are all oscillators. An oscillator is a momentum based indicator that moves above and below a horizontal axis representing a position of neutral momentum..... READ MORE

Support and Resistance - The Greatest Trading Tool

Despite all the hype from the internet marketers who try to sell you the latest trading 'secrets', the fact is there are NO secrets. Identify setups which provide the potential for lower risk and/or higher probability trades. Enter and manage those trades in a consistent and disciplined manner..... READ MORE

Trading Risk Management - Rule of Three

Would you like to discover a quick and simple risk management strategy that is easy to apply to any trading plan, and has the potential to vastly improve results? Excellent!.... READ MORE

Three Trading Losses in a Row

Three losses in a row are tough. That's about the most consecutive losses that novice traders are psychologically prepared to accept before they feel compelled to take action and 'correct' the situation. Is this the right response though?.... READ MORE

Trading Risk Management - Tight Stop Losses

Here's a fact: Most novice traders when setting tight stops do it wrong. What do I mean by that? You'll discover in this article what tight stops mean to me and why it's almost the opposite of what most novice traders do..... READ MORE

A Trading Psychology Lesson From a Nine Year Old

Sometimes the best trading psychology lessons don't come from trading psychology books or even from the markets. In this article you'll discover a great lesson I received recently from a nine-year old. Yeah, that's right - nine years old..... READ MORE

Transitioning From Part-Time to Full-Time Daytrading - Ensuring Sufficient Income

Would you like to one day make the transition to full-time daytrading? Great. First though, let's discuss the problem that led to the failure of my first attempt, and discover the strategies I put in place to set myself up for my second (and so far successful) transition to full-time trading:.... READ MORE

The Greatest Trading Loss

What is the greatest risk you face in trading? Is it loss of money? Certainly, that's what most traders believe. I tend to disagree though. In my opinion we have something much greater at risk, that very few of us consider during the 'learning phase'..... READ MORE