Loses – they do happen !

Hi Everybody,

I just wanted to share with you all a nice and what was “at the time” a valid “manual” advanced trade, which did not unfold as anticipated. Again there are too many software soles people and so called Gurus who never show or even mention loses. I hope you should all know that loses can and do unfold, even when using expert and advanced analysis.

So does this mean that the analysis was wrong? Of course not, your aim on the losers is to control the loss and keep it small. As long as you do that you are doing your job correctly. This is why I wanted to post this losing example, to show and remind you all that losses can and do unfold. But your job as a trader is to keep them small, at just -1R in this example.

Thanks

Steve

Elliott Wave module

Hi everybody,

We also have some more tools and modules available in the software for the more Advanced traders among you, like the Elliott Wave module. Here you can see a wave 5 high (that reversed right at the typical Wave 5 WPT), that was also on a high volume (VSA) bar that unfolded early afternoon. The 3min YM then declined into the DP (form the prior wave 4 low) absolutely perfectly. This a an advanced trade that is covered on Part 2 of the Trading Course.

As you can see, MTPredictor has the tools and modules to help you find and then evaluate trade setups, no matter whether you are a new or more experienced trader.....

Steve

PS, The Elliott Wave module should be considered an advanced tool so ashould only be used by people who have studied the Trading Course

High volume spike analysis (VSA)

High volume spike analysis (VSA)

Hi everybody,

MTPredictor is not just a black box to be followed blindly, we have far more that will help you become better traders, for example the new VSA, volume spike analysis, bars in MTP v6.0. As you can see, both the DP buys yesterday unfolded with these.

For more info on this please click here

Steve

OK, what of the larger degree, 15min trend?

As you can see, the 15min ES declined into DP support and then made a low and rallied, so the DP nailed the market perfectly yesterday. This meant that the first 3min DP buy of the day was just short of the 15min DP support, but the second one was right in the 15min DP, so was perfect. Then, the later TS4 sell was “against” the new 15min up trend so should have been avoided.

DP’s are always tricky, that is why we will be reclassifying them soon as more “Advanced trades”. The best way to use DP’s is when they align perfectly with the larger degree 15min Chart. As we have seen here, the first 3min DP sell was not ideal, as it was short of the 15min support, but the second one was absolutely perfect. Therefore if you are an advanced trader you should have been quicker to raise your initial protect stop on the less than ideal setup, while been more liberal with the ideal one. In this way the Advanced trader could have avoided the -1R loss on the first DP buy with a break-even trade.

This is good advice for the automatic DP setup, be cautious about this unless you are confident of the larger degree position. That is why we will be reclassifying the automatic DP as an Advanced setup as it requires some more thought and experience.

Steve

Another nice day yesterday

Hi Everybody,

What another brilliant day again yesterday, mainly on the ES.

If you look at the chart you can see how we had a couple of DP buys in the morning, the second of which nailed the low of the day perfectly ! The main question was whether to take the TS4 sell that unfolded as the ES was rallying off the lows ? Well, as always, this is where the 15min Chart comes in. And as we will see in the next post, the ES was rallying off DP support, so the trend was up now, so you should have avoided this TS4 sell and held the DP long into its profit target for a very nice +5.4R Profit...............

The only question was how to handle the first DP buy of the day, was this a -1R loss or break-even ? I will answer this in the nest post

Thanks, and what another great day yesterday...........

Steve