TS3 buy on the Russell Index

As I suggested in my last post, just as the YM was making a -1R loss, the Russell Index gave us a nice TS3 buy setup. This is where Amateurs (who get frustrated at losses) would have missed this long trade. Which is why many Amateurs never make it as professional as they get too emotionally involved with the markets. This is sad, as this means they miss out on great trades and never make a success of trading.

As we can see, this TS3 long when onto make a very nice +3.3R Profit (ignoring slippage and commission). In fact, profits were taken as the high of the day came in – Amazing !!

As a PS for the Advanced Traders among you, please go over to the Advanced Blog to see how a “stop and reverse” at this high would have added another great profit to the day.......

Thanks, Steve

A good day..............

Hi Everybody,

Good to be back and I see that we had some good trades while I was away. Looking over Friday, I see that if you were careful and logical you should have had a god day. Let’s start by looking at the 3min YM to show you what I mean.

Here, the first TS4 buy would have probably been stopped out for break-even. Then comes the frustrating bit, where the TS3 buy at 11:36EST was stopped out for a -1R loss by just 1 tick. This is when Amateur traders fall down as they would have got frustrated and then would have missed the TS3 buy on the Russell Index that unfolded just after this. I will take a look at this in my next post.

Thanks, Steve