Now for the Advanced Traders...

OK, we have already see that the NQ was moving up into the “opposing” DP level, so what do you think would have been the sensible thing to do when you reached the 15min DP resistance zone AND you were at the maximum Wave 3 WPT on the 3min Chart AND that bar came on a high volume VSA spike AND you were sitting on a massive +10R Profit ?

Exactly, tighten stops................ This enabled you to come out at the high of the day ! Long from the low of the day to bank profits at the high of the day for +10R Profit (ignoring slippage and commission), not bad :-) , and all it took was a little advanced knowledge and experience. All of the tools that you need are in MTPredictor, you just need to take the time and make the effort to learn how to use them.

Thanks, Steve

Larger degree trend on the 15min NQ

OK, here is the 15min NQ chart, as you can see the 3min DP Buy was right at the “larger degree” 15min DP support zone. As such giving the 3min DP added weight.

The 15min NQ then rallied nicely to the “opposing” DP.

Things do not fall all into place this well all the time, but when they do, it is worth maximising your profits on the trades you have. Which brings me nicely onto whether the Advanced Traders among you could have squeezed any more profit out of that 3min long trade. Let’s see in the next post.....

Thanks, Steve

+8R Profit on the 3min NQ

But for me the “trade of the day” was the DP buy on the 3min NQ, as this nailed the very low of the day for you !!

As you can see from the chart, standard trade management guidelines swapped to the ATRStop once the STF strength band was exceeded. The result as a massive +8R Profit (ignoring slippage and commission).

OK, I know what you all asking, why take DP’s as they are more of an advanced technique. Well, the exceptions are when they fall in line with “larger degree” support or resistance (on the 15min chart) or they are et the end of 5 swings. Well guess what ? This 3min DP was bang at 15min DP support as we will see in the next post, so was a real beautiful trade....

But the main point here is how after a few hard days along comes some massive profits, so you have to be in the right frame of mind to take full advantage of these. Too many amateurs have a few loses and then give up, so they are never there to make these big profits.....

Thanks, Steve

+6R Profit on the 3min Russell

Hi Everybody,

Isn’t the Cyclical nature of Trading amazing ! After a few hard and tricky days, we then get a massive day like yesterday ! This is what I keep on saying, you will get hard times and quiet times and small losses, and sometimes all will seem against you, but then along comes a day like yesterday. This is what I posted the “How Profits and loses unfold in the real world” to help you see how this really works.

OK, lots to talk about today so let’s start with a nice TS1 sell on the 3min Russell Index. Nothing out of the ordinary here, the 15min Chart was coming down from DP resistance so this was “with” the 15min Trend even though the 3min STF was blue.

Using standard trade management guidelines meant swapping to the ATRStop as the STF strength band was exceeded. The result a nice +6R Profit (ignoring slippage and commission). A nice start to the day.

Thanks, Steve