3min DP sell on the ES

As we already have seen, early in the day the 15min trend was down, so the DP sell on the 3min ES early in the day was a good one to consider.

As you can see, this resulted in a nice +2.8R Profit (ignoring slippage and commission) at the first target. So was a good trade.

But, and this is where most amateur traders go wrong, they see the market rally later and then assume that they were wrong, because they had not anticipated that this would happen. BUT (and this is so important to understand), our job as a trader is just to make money and not be “right”. Amateurs confuse the two. This was a good example because the rally was not anticipated, BUT when you look at the day as a whole you come away with a nice profits, and that should be your sole aim, to make money and not be right....

Thanks, Steve

15min trend

Hi Everybody,

Yesterday was a good example of what happens when the larger degree trend does not pan out as originally anticipated......

Here we had a TS3 sell on the 15min ES early in the day, so that set the larger degree trend to down. But, the ES only declined slightly before reversing and then rallying to new highs.

So does this mean that our analysis was incorrect ? Let’s take a look at the 3min chart and see............................

Thanks, Steve