Hi Everybody.
First please re-read the post below, where I say “so what should we be starting to prepare for after a good (and very profitable) few days ? “ Exactly a few losses. As we all should know by now, this is just the natural Cyclical Nature of Trading and is how Profits and Losses unfold in the “Real World”. So don’t say that I did not warn you that a few losses were overdue .......
As you can see, the 3min ES had two losing trades, as shown by the history triangles in the new MTPredictor v6.5. BUT, and this is the important point, these losses were kept small at just -1R each, so -2R is a lot smaller than the +6R Profit that was possible on the ES the day before. And that is the key to successful trading, keeping the losses small (not avoiding them).
Again, unlike most Gurus and software vendors, we do show and talk about losses !
Thanks
Steve
First please re-read the post below, where I say “so what should we be starting to prepare for after a good (and very profitable) few days ? “ Exactly a few losses. As we all should know by now, this is just the natural Cyclical Nature of Trading and is how Profits and Losses unfold in the “Real World”. So don’t say that I did not warn you that a few losses were overdue .......
As you can see, the 3min ES had two losing trades, as shown by the history triangles in the new MTPredictor v6.5. BUT, and this is the important point, these losses were kept small at just -1R each, so -2R is a lot smaller than the +6R Profit that was possible on the ES the day before. And that is the key to successful trading, keeping the losses small (not avoiding them).
Again, unlike most Gurus and software vendors, we do show and talk about losses !
Thanks
Steve
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