Amazing +12R Profit on the FTSE !

Hi Everybody,

One for the European Traders among you here................

A beautiful ABC correction into a TS3 buy automatically unfolded on the 3min FTSE this morning. The FTSE then rallied nicely to reach the first projected profit target, where Standard Traders would have looked to bank Profits for a massive +12R Profit ! (Ignoring slippage and commission)..

Yes, massive trades like this can and do unfold............... and I hope that some of the European Traders among you managed to catch this one :-)

Thanks, Steve

Yes, losses can happen

Even though we nail both the high and the low of the day on Friday, which was absolutely amazing ! And had already banked a nice +7R Profit (on the Russell), it does not mean that losses still do not unfold.

It is important to understand that losses can and do unfold, even when you have a clear larger degree picture. BUT (and this is the important part) the losses are kept small., A -1R loss on the 3min NQ (see chart) is still very small when compared to the +7R Profit on the Russell.

I am still amazed at how many Amateur Traders simply do not understand that it is not the “number” of Profits or losses, that is important it is their related “size” that is important. Big Profits and small losses, that is the secret to long term success in this industry.....

Thanks, Steve

DP support nails the low of the day !

Here is the position of the 3min YM, which shows how the VSA (high volume) bar ws unfolding at DP support. This is why it was a good idea to look to protect a nice +7R Profit on the 3nin TF short.

This is why it is always a good idea to keep an eye on all the 4 US e-minis, even if you are not in a trade.

Thanks

Steve

DP sell nails the high of the day !

Hi Everybody,

Today I would like to start with the 3min Russell Index on Friday.

As you can see, we got an automatic DP sell that nailed the high of the day for you ! I will let you all take a look at the 15mion Charts yourself, but needless to say, this was also at 15min DP resistance, so was a good trade to take. The Russell decline nicely, so the only question was when to get out.

This is why I always keep an eye on other related markets. As the high vole (VSA) bar came in, the YM (in particular) was at DP support. This was an indication that a low was unfolding. So it was sensible to look to lock in a nice +7R Profit (ignoring slippage and commission) at that stage......

Thanks

Steve