Hi Everybody,
Yesterday was a perfect example of why every professional trader needs patience.
As you can see, the 3min ES gave a nice TS3 buy yesterday, which as the low of the day. The ES then crept higher all day, to eventually reach the first projected profit target. At this point the bars low were not breached, so this long trade remained intact. The STF then broke the strength band so the trade was held until close, which was near the high of the day for a nice +4R Profit (ignoring slippage and commission).
But the point here is that there was just one trade, long form the low of the day, into the close, which was near the high of the day for a good profit. I wonder how many of you did not hold this all the way and as such did not maximise your profits on this trade. Patience is a fundamental requirement for all successful traders....
Steve
Yesterday was a perfect example of why every professional trader needs patience.
As you can see, the 3min ES gave a nice TS3 buy yesterday, which as the low of the day. The ES then crept higher all day, to eventually reach the first projected profit target. At this point the bars low were not breached, so this long trade remained intact. The STF then broke the strength band so the trade was held until close, which was near the high of the day for a nice +4R Profit (ignoring slippage and commission).
But the point here is that there was just one trade, long form the low of the day, into the close, which was near the high of the day for a good profit. I wonder how many of you did not hold this all the way and as such did not maximise your profits on this trade. Patience is a fundamental requirement for all successful traders....
Steve
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