Hi Everybody,I am often asked about trade management, so I thought I would take a look at the current TS3 sell on the FTSE.
Standard Traders would have managed with the ATRStop, as the STF was strong, and as such ended up with a very nice +9R Profit (ignoring slippage and commission), which is a HUGE Profit and one any trader should have been happy with...........
But as an Advanced Trader, I always keep an eye on the “pattern” of any swing, and here the decline unfolded as a “minor” 5 wave decline. All of you who have read and studied the Trading Course will know that the 5th swing in an Elliott Wave Pattern is usually the last swing. So with this in mind, protecting a massive +13R Profit (ignoring slippage and commission) would have been a good idea...
What a brilliant day for the European traders
Steve
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