TS2 sell on the 3min YM

There was also a brilliant standard TS2 sell on the 3min as the decline unfolded. Using the Standard trade management guidelines, this would have made approx. +4.4R Profit (ignoring slippage and commission)

What a brilliant day on Friday, and I just wonder how many of you were ready for this and as such made the most of it. I know how many amateur traders have a bad day then get all fed up and then miss great days like this. Trading is a professional business, and you must approach each and every day like a professional. There are some massive profits to be made, it is up to you whether you are willing to do the work and take the time to learn how to capture them. Or do you just want to mess around and then complain when other (more professional traders) do better than you.

It is simple – the choice is yours, do you want to learn how to trade like a professional, or just complain that others are more committed than you......

Thanks, Steve

DP sell on the 3min NQ

OK, now we know that the larger degree trend was down in the morning, you should have been on the lookout for selling opportunities, and the best on of the day came immediately after the open on the 3min NQ. For those of you who read this Blog regularly will know that one Advanced setup is to look for a “failed” move off the open into DP support / resistance. So with the larger degree trend down, a sharp move off just after the open into DP resistance on the 3mion NQ was the perfect sell setup.

This has you short form the high of the day as the markets collapsed. Using the ATRStop would have held the short trade for a massive +10R Profit (ignoring slippage and commission).

What a brilliant trade ! Now do you see why I was trying t prep you all in Fridays post, because I knew that we were due for a brilliant day, because the prior few days had been hard. This is a brilliant example of the Cyclical Nature of Trading at work !

Thanks, Steve

What an amazing day !!

Hi Everybody,

This is exactly why I talked so much about the Cyclical Nature of Trading, on Friday, after such a hard day on Thursday. I was trying to tell you that a good day was overdue and guess what ? That is exactly what we got on Friday !!

First lets set the scene with the larger degree 15min trend. As you can see, the 15min YM had an automatic DP sell, so the decline on Friday should have come as no surprise to any of you.

Then, the decline continued to reach the level of a prior important low. So after such a sharp fall, and the 15min chart staring to rally off this level, the 15min trend changed to up in the afternoon.

So we had a down trend in the morning (sells), then an uptrend on the afternoon (buys), so let’s now turn to the 3 and 5mn Charts to see what we had....

Thanks, Steve