But the 3min Russell did help soften the day with a nice +2.7R Profit (ignoring slippage and commission) late in the day.
So add +2.7R to -5R (again this is worst case on the YM, the other e-minis were far better than this) and you get -2.3R down overall. Yes this was a loss, but then compare -2.3R to the +4.7R and +5R profits from just the day before........... This is why I keep on saying that successful trading is all about Risk control and keeping the losses small. Here, even with 5 straight -1R losses (which is hard), all these are cleared by just one +5R profitable trade from the day before.........
Amateurs do not understand this, that is why I teach “the good, the bad and the ugly” here on a daily basis to help you all become professional traders that understand that losses can unfold, even a string of 5 -1R losses, but they are still small in comparison to the huge profits on other days. And this is what makes money overall............... To become a successful professional trader you must learn to understand this and accept it.
Steve
So add +2.7R to -5R (again this is worst case on the YM, the other e-minis were far better than this) and you get -2.3R down overall. Yes this was a loss, but then compare -2.3R to the +4.7R and +5R profits from just the day before........... This is why I keep on saying that successful trading is all about Risk control and keeping the losses small. Here, even with 5 straight -1R losses (which is hard), all these are cleared by just one +5R profitable trade from the day before.........
Amateurs do not understand this, that is why I teach “the good, the bad and the ugly” here on a daily basis to help you all become professional traders that understand that losses can unfold, even a string of 5 -1R losses, but they are still small in comparison to the huge profits on other days. And this is what makes money overall............... To become a successful professional trader you must learn to understand this and accept it.
Steve
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