European Traders having a Ball !

Hi Everybody,

Nice to see that the European Traders among you are having a great time................. As you can see, a lovely TS 3 buy has just unfolded on the 3min Dax. The result was a nice +6R Profit (ignoring slippage and commission) as the Dax rallied into the first Profit target !

This was a perfect trade and everything was standard, so it should have been caught by all the European Traders out there..............

The screen shot uses the new MTP RT add-ons for NinjaTrader 7

Thanks, Steve

Opposing signals ?

Hi Everybody,

A question I get a lot is how to handle an “opposing signals”. For example, you were short from the TS3 sell in the 3min YM, then a valid TS3 buy came up, what do you do ? Well, this is where an idea of the “larger degree trend” comes in. Normally I would suggest that the signal that is “with” the larger degree trend has preference. But, for those of you who have been following this Blog for a while, will know that the “day after” a big move can be choppy, with narrow ranges, so can just drift sideways, just like Friday !

So in day like this, “Stop and Reverse” at valid opposing signals is OK, but just be careful and keep stops close, as a horrible choppy day was expected.....

Thanks, Steve