Larger degree trend – example 2

Now let’s look at the 3min Chart...........

Can you all see that because the 15min (larger degree trend) was UP, the TS1 sell on this 3min chart was “against” this up trend so should not have been taken.......... As you can see, this avoided an otherwise loss.

Sometimes knowing when “not” to take a trade is more important that taking a trade.....

Steve

PS, notice how the VSA spike, at DP support, nailed the actual low of the day for you !! Then how the Dax rallied into the opposing DP – absolutely perfect :)

Larger degree trend – example 1

Hi Everybody,

Here is a perfect example, of when you should NOT take an automatic setup.

As you can see, the 15min trend on the Dax this morning was UP from a DP low, into a DP high.................. So when the “larger degree” tend is up, what should you do if you get a short term (3 and 5min) automatic sell ?

Steve

Cyclical Nature of Trading

Hi Everybody.

Understanding how markets unfold in the “real world” is absolutely vital if you intend to become a professional trader. There are too many amateurs who just look at the markets for a few days and then “expect” to make big profits each and every day. This simply does not happen.

Yes, there will be easy times, when good trades are frequent and easy to spot, because the pattern is clear. And this is what most companies market on. BUT, then there are harder times, when the pattern is less clear. This is what most companies don’t tell you about. But times like this can and do happen. The trick is not to get frustrated and accept that losses will unfold, but you keep them small, and that there will be quiet times, when the pattern is unclear.

Knowing and (more importantly) accepting this is vital, because only then will you understand that when times are hard, you are getting closer (as the cycle moves round) to getting back to some big profitable trades again......

This is true for all markets and all time frames....

Thanks, Steve