YM 3min

The best potential sell yesterday was form a “manual” DP high on the 3min YM. As this was using manual analysis it should be considered and Advanced setup. AS you can see this only made a small Profit but a profit all the same.

This does bring up the question on what professional traders should expect for their Profits and losses, so please read this PDF Click here that shows how profits and losses typically unfold in the real world. It is interesting that amateur expect big Profits every day, but the world simply does not work like that

Steve

ES 3min

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