OK, in my last post we saw how there could have been -3R on the 3min YM, as I said, the ES was only -1R. BUT, and I have to say this again, these were not good buys to take as the 15min trend on the e-minis yesterday was more down than up, so sells should have been the order of the day (not buys).
So now let’s look at the 3min NQ, where a nice +2.6R Profit (ignoring slippage and commission) was found.
This is the important part, even on a bad day -3R plus +2.6R equals only -0.4R (ignoring slippage and commission) down. Compare this to the +8.7R Profit from Friday and can you all see why it is so important t keep the losses small. There will always be losses and bad day and yes, even losing days, but the trick is to keep these small when compared to the Profits., This is what makes a successful professional trader..........
Steve
So now let’s look at the 3min NQ, where a nice +2.6R Profit (ignoring slippage and commission) was found.
This is the important part, even on a bad day -3R plus +2.6R equals only -0.4R (ignoring slippage and commission) down. Compare this to the +8.7R Profit from Friday and can you all see why it is so important t keep the losses small. There will always be losses and bad day and yes, even losing days, but the trick is to keep these small when compared to the Profits., This is what makes a successful professional trader..........
Steve
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