A good day yesterday.... Part 2

After a god start to the day on the 3min ES, the 3min NQ got in on the act with a YS3 buy later in the day, that made approx. +1.8R Profit (ignoring slippage and commission) on the close. Add this to the +2.8R Profit from the ES earlier, and you had a good day yesterday..............

Notice how the STF was blue all day, so sells were avoided....

This is why I keep on taking about the Cyclical Nature of Trading, and why it is so important to keep the losses small during the bad times, because the good days, with good profitable trades will come around again, and you must be ready to catch them.....

Thanks, Steve

A good day yesterday....

Hi Everybody,

Yesterday was a good day for the Standard Traders among you, which started with a nice S3 buy in the morning on the 3min ES.....

As you can see, the ES rallied nicely to reach the first projected profit target – that nailed the high of the day for you ! For a nice +2.8R Profit (ignoring slippage and commission).

Notice how this TS3 long did not get stopped out as the ES made a “double bottom” a few bars after the entry...........

Thanks, Steve

3min ES

Hi Everybody,

Yesterday was another perfect example of why I want you to all become “more advanced” traders and as such be able to “read” the charts, as you will see in the Advanced Blog, this would have given you another massive +9.9R Profit on the 3min NQ yesterday, making back to back +10R Profits over the last two days using Advanced Analysis............... This is the true power of MTPredictor and why, once you understand how to use it properly, you will see how it is one of the most powerful software programs around.....

But I do understands that many of you need to learn to walk before you can run, so let’s take a look at just the standard setups on the 3min ES yesterday, which was a hard day.

As you can see, there were two sells early in the day, the first was a -1R loss, but on the second, can you see how the STF turned red just after the long trade was entered, this was a sign to either get out or move stops closer.

Then we had a TS2 sell, that would have been a -1R loss or break-even depending on whether you used the 100% initial risk guideline. But it is the TS3 later on that interested me most. Mainly because it did reach the minor DP where a small profit was available, especially as other markets (as we will see on the Advanced Blog) were making brilliant buy setups.

So a tricky day, but then the Advanced Analysis kicked in with some perfect trades, please see the Advanced Blog.

Thanks, Steve

TS2 sell on 3min ES

Hi Everybody,

To celebrate that we have started the “Beta testing” of the new RT MTP add-ons for NinjaTrader 7, I will do today’s post using NinjaTrader 7.........

Friday was a good day with a TS2 sell unfolding on the 3min ES, that nailed the high of the day for you ! Using the standard trade management guidelines would have meant coming out for a +2.3R Profit (ignoring slippage and commission).

Some people will complain at that, but then they will have forgotten the +2R Profit from the YM the day before, and then compare this to just a small -1R loss on the 3min YM the day before.................. All these Profits were much larger than the losses, and that is what makes money overtime.... Big Profits and only small losses.

Thanks, Steve
PS, I know that you would all loved to have caught the whole decline, well pop over to the Advanced Blog to see how........

Beware the creeping DP

You will also notice on that 3min YM chart that we had two DP sells, neither of which worked out. BUT, notice how they are against a blue STF, so both should have been avoided.............

DP’s are brilliant for nailing the “end” of a trend, but because they are “trend termination” setups they should be used with caution, ............ Especially when they appear in a market that is “creeping” like the YM yesterday. On days like this, DP’s should be avoided......

DP’s are best used only by the more experienced trader and then only when they line up with the larger degree chart.

Thanks, Steve

YM yesterday

Hi Everybody,

The last two days have been a brilliant example of why it is so important to keep your losses small. On Tuesday the 3min YM made a -1R loss. But then yesterday we had a TS2 buy setup, that nailed the low of the day for you ! But the important point is that the profit from this was +2.1R (ignoring slippage and commission)..................... In other words wiping out the prior days loss and putting you back into Profit over all. Small losses and Big Profits, that is the key to successful trading.

I know that +2.1R is only small profit, but you have to remember that we are still in the quiet part of the trading cycle, so small profits and small control losses should be expected. It will not be long before we get back to some much bigger profits.

Thanks, Steve

The Dax saves the day with +9.7R trade...

Hi Everybody

Even when the US e-minis have been quiet over the last few days, the 3min DAX come up with this massive +9.7R Profit (ignoring slippage and commission) just this morning..................

A good one for the European Traders among you :)

Thanks, Steve