OK, now we know that the larger degree, 15min, trend was down yesterday, I hope you can all see that the best opportunity on the 3min ES yesterday was the TS2 sell later morning. As you can see, this got you short before the ES declined into the low of day.
The result was a nice +2.8R Profit (ignoring slippage and commission) as the ES reached the first projected profit target....
But, and this is the most important part, this profit was 2.8x larger than the -1R loss from yesterday, so even though we are in the hard part of the cycle at the moment the Profits are still larger than the loses. This the key to long term trading success, keeping your losses small and your profits large....
Thanks, Steve
The result was a nice +2.8R Profit (ignoring slippage and commission) as the ES reached the first projected profit target....
But, and this is the most important part, this profit was 2.8x larger than the -1R loss from yesterday, so even though we are in the hard part of the cycle at the moment the Profits are still larger than the loses. This the key to long term trading success, keeping your losses small and your profits large....
Thanks, Steve
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