OK, now if we look at the 3min NQ, you can see how there was a TS3 buy later in the day (the first one was against a red STF, but this second one was on a black STF so was OK). But the important point is the size of the profit at +3.7R (ignoring slippage and commission).
So even after 3 losses on the ES, this one profit put you back into Profit overall for the day. 1 profit and 3 losses is only a 25% hit rate, but you still made money. Most amateur traders never get to fully understand that you don’t need a high winning % to be a successful trader, controlling your losses is actually far more important. This is why 95% of amateur traders end up broke in this Industry because they never learn what is important and what they have to do to get it.
Thanks, Steve
PS, as I have already said, the 15min trend was UP so not only should you have avoided the losing sells but the Advanced Traders should have been looking to “run” their long trades further. So in reality, the Advanced Traders among you should have had a very good day yesterday.
So even after 3 losses on the ES, this one profit put you back into Profit overall for the day. 1 profit and 3 losses is only a 25% hit rate, but you still made money. Most amateur traders never get to fully understand that you don’t need a high winning % to be a successful trader, controlling your losses is actually far more important. This is why 95% of amateur traders end up broke in this Industry because they never learn what is important and what they have to do to get it.
Thanks, Steve
PS, as I have already said, the 15min trend was UP so not only should you have avoided the losing sells but the Advanced Traders should have been looking to “run” their long trades further. So in reality, the Advanced Traders among you should have had a very good day yesterday.
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