WY-07-31 / 01
Use Only Information Available Then and Preserve Trading Records
The Complete Decision Process
Lesson / WY-07-31
Judgments can use only action already observed. If rules decide after the close, a bar's high, low, close, and final volume are complete only afterward; intraday decisions use cumulative data then available and cannot borrow the eventual closing pattern retrospectively. An unfinished higher-timeframe candle changes with lower-timeframe trades. Label it as forming rather than treat its temporary appearance as a final close.
Course content is for learning and research only. It is not investment advice.
Read the Chapter ↗Timestamps
9 lessons · Chapter contents
01Use Only Information Available Then and Preserve Trading Records↗02Initial Facts: First Describe What the Market Has Done↗03Retain Other Explanations That Fit Current Price Action↗04How Incremental Evidence Changes Judgment↗05When to Wait, Participate, Cancel, or Replan↗06Confirmation, Rejection, and Cancellation Are Different Actions↗07The Same New Fact Means Different Things When Holding or Flat↗08Evaluate Decision Quality Separately from Trade Outcomes↗09A Complete Decision Process as Price Action Unfolds↗Observe the market: start with context and place price within its structure.
Understand structure: compare supply and demand, and let evidence support or revise your hypothesis.
Form a view: define risk limits and know when to reassess.
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Analysis and Trading Decisions Within a Complete Structure
