Hi Everybody
A good day on the US minis yesterday. So (yet again) this is a good example of the Cyclical nature of Trading, because after a few harder days we come back with some nice good profits. This is how trading unfolds in the real world, do not expect to make profits each and every day, the markets simply do not work like that.
Anyway, I was asked a question yesterday on how to manage this TS4 short on the 3min ES. As you can see, at the first target it as on a nice +2.9R Profit. As the STF strength band had not been exceeded (only just) the standard guidelines say to use the WPT targets and as such Bank a nice +2.9R Profit.
But what of the Advanced Traders among you ? Well then we look to the 15min chart for the larger degree trend....
Steve
A good day on the US minis yesterday. So (yet again) this is a good example of the Cyclical nature of Trading, because after a few harder days we come back with some nice good profits. This is how trading unfolds in the real world, do not expect to make profits each and every day, the markets simply do not work like that.
Anyway, I was asked a question yesterday on how to manage this TS4 short on the 3min ES. As you can see, at the first target it as on a nice +2.9R Profit. As the STF strength band had not been exceeded (only just) the standard guidelines say to use the WPT targets and as such Bank a nice +2.9R Profit.
But what of the Advanced Traders among you ? Well then we look to the 15min chart for the larger degree trend....
Steve
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