Always look at more than one market

As we have already seen, the US e-minis were hard yesterday as the markets crept higher without giving us any buy set-ups. BUT this is why it is so important to follow other “correlated” markets.

If you look at the chart, you can see how the 3min DAX (German stock market) made a very good looking TS3 buy at 14:00EST so was very tradable by European traders and American traders alike. As you can see, this made a massive +7.8R Profit (ignoring slippage and commission) !

So when the US e-minis were not giving any buy and were creeping higher, the buy on the Dax gave the perfect opportunity to trade advantage of this rally in world markets..... There are just too many people that only follow just one market, and as such are missing out on great profits like this

Thanks, Steve

3min NQ

Hi Everybody,

Yesterday was a slightly harder day, with a couple of losses on the 3min NQ. Yes, it is important to talk about losses as they can and do happen.....

As you can see, that two -1R losses were valid as they were on a black STF. The two DP sells later in the day were “against” the blue STF so should have been ignored..... But the TS4 sell early in the day is one that I will talk about on the Advanced Blog.

Thanks

Steve