A good day

Hi Everybody,

Yesterday was a god day for the Standard Traders among you. The day started with a TS2 buy on the 3min YM.....

AS you can see from the chart, after a long time, the YM did reach the first projected profit target. At that time the STF was weak, so standard traders would have taken profit at that level for a nice +3R Profit (ignoring slippage and commission)

A standard and automatic trade that was managed using the standard trade management guidelines........

Thanks, Steve

My favourite setup

Hi Everybody,

Sorry for not posting for a few days, but I have been away on a well needed vacation.........

Now I am back, I see that we had a brilliant long trade on the 3min ES. In fact this was my “favourite trade” and one that I have talked about many many times before. It is my favourite trade because catching the end of the Wave (2) correction, to them be able to trade the strong Waver (3) represents the highest Profit / lowest risk trade there is. In fact, MTPredictor was designed in the first place to catch this very trade..........

Yes, I know it is against a red STF, and I will explain why this is in the Advanced Blog.

But, as you can see, at +10.4R Profit (ignoring slippage and commission), this was an amazing trade !!

Thanks, Steve

A quiet day

Hi Everybody,

After all the excitement on Friday, it was no surprise that yesterday (Monday) was a quiet. This is just the Cyclical Nature of Trading at work again.

Today I would like to remind all the Standard Traders among you to use the STF for their “trend direction”. Advanced Traders can override this, when the pattern is correct, but in the early days the STF will keep you in the right direction most of the time. For example the two sells on the 3min YM yesterday should both have been avoided as the STF was blue.

Thanks, Steve

A good day on the e-minis, part 3

As profit was being taken on the 3min NQ short, a TS3 buy was coming in on the 5min Chart. The first one of these buys ended up as a -1R loss, but the second nailed the low perfectly. The NQ then rallied strongly for the rest of the day. The result was a nice +4.1R Profit (ignoring slippage and commission). So even after the -1R loss earlier, this mean +3R Profit overall. Yet again, a brilliant example of how small losses and big profits can make you money overall.

So overall it was a very good day on the US e-minis and is yet another example of how the good days will follow some harder days that unfolded midweek. This is just the natural cyclical nature of the markets and something all professional traders know and understand.

Thanks, Steve

A good day on the e-minis, part 2

As the ES was on the way down to its minor DP support zone, the 3min NQ gave a nice TS3 sell. Notice that the NQ made a “double top” a few bars later so this was not a -1R loss as the first short was never stopped out.

As you can see, the NQ then declined to reach the first project profit target, were profit was taken as the STF was weak, for a very nice +3.2R Profit (ignoring slippage and commission.

This was a completely standard setups and standard trade management.

Thanks, Steve

A good day on the e-minis

Hi Everybody,

Friday was a good day on the US e-minis with a number of good trades. Top start with let’s look at the ES.

The day started with the DP nailing the low of the day !! Although this would have been an Advanced Trade, it does show how powerful the tools are in the software. Then we had a TS3 sell. The ES only managed to decline into the DP from the prior Wave b low. But I have shown this support zone in prior posts. A nice +3.6R (ignoring slippage and commission) Profit was available at this level.

But, why would you want to take profits at this DP, after all it is only a “minor” support zone ? Well, as we will see, there was a lovely Automatic TS3 buy on the 5min NQ at this time which would have give extra “weight” to a low coming in. This is why I always say that it is a good idea to keep an eye on all 4 of the US e-minis

Thanks, Steve

A few small losses

Hi Everybody,

Well we are defiantly in the hard part of the cycle at the moment. As you all know, the markets go round between the good times (profitable trades) and quieter times when a few losses unfold. I call this the Cyclical Nature of Trading. As after a few very good days earlier in the week, we are now having a few losses come though. But (and this is the trick) these losses are kept small at just -1R. If you remember, earlier in the week we had a +10R day, so these losses are small when compared to the profits. This is just the natural way profits and losses unfold when trading....

But it was not all hard work yesterday, please take a look at the Advanced Blog, for a look at a lovely “Gap Opening” play on the ES that made a nice +6R Profit (ignoring slippage and commission).

Thanks, Steve