Hi Everybody
Well yesterday was an interesting day. The 15min ES put in a high at the DP as I anticipated before the open yesterday so I was (personally) looking for sells as I had considered (at the time) that the 15min trend had turned down. So I (personally) would have avoided the buys that came up on the 3min ES yesterday, The first a TS1 sell that would have been stopped out for a -1R Loss, but was not a very good looking setup.
The one that did interest me, because the pattern was so nice, was the TS3 buy at 13:30EST, but as I have already said, this was against what was perceived (at the time) as a new 15min down trend, as because we have to be consistent as traders, it was best to pass on this one.
The only group of traders who could have considered it were the Advanced Traders, but then stops should have been moved to break-even quickly. Interestingly after all the discussions yesterday, “if” advanced traders had taken the two sell on the 3min NQ on Friday for a -2R loss, then the Profit on this one TS3 long would have more than made up for these being a +2.5R Profit (ignoring slippage and commission). This just goes to show that however you choose to trade, consistency is necessary, even after a few losing trades, as the winners will be just round the corner.....
Thanks, and a interesting day yesterday......
Steve
Well yesterday was an interesting day. The 15min ES put in a high at the DP as I anticipated before the open yesterday so I was (personally) looking for sells as I had considered (at the time) that the 15min trend had turned down. So I (personally) would have avoided the buys that came up on the 3min ES yesterday, The first a TS1 sell that would have been stopped out for a -1R Loss, but was not a very good looking setup.
The one that did interest me, because the pattern was so nice, was the TS3 buy at 13:30EST, but as I have already said, this was against what was perceived (at the time) as a new 15min down trend, as because we have to be consistent as traders, it was best to pass on this one.
The only group of traders who could have considered it were the Advanced Traders, but then stops should have been moved to break-even quickly. Interestingly after all the discussions yesterday, “if” advanced traders had taken the two sell on the 3min NQ on Friday for a -2R loss, then the Profit on this one TS3 long would have more than made up for these being a +2.5R Profit (ignoring slippage and commission). This just goes to show that however you choose to trade, consistency is necessary, even after a few losing trades, as the winners will be just round the corner.....
Thanks, and a interesting day yesterday......
Steve
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