Hi Everybody
Today I would like to take a close look at a TS1 sell on the 3min ES yesterday. The reason I want to take a good look is that we have amended the code in MTP v6.0 to take account of double tops and bottoms, which we don’t have in the RT add-ons, so this TS1 sell was found in MTP v6.0 but not in the RT add-ons, so I want to explore it in detail to show you the logic behind it.
First, let’s look at the completed trade. As per the standard trade management guidelines, the ATRStop was used as the STF strength band was exceeded. The trade was then stopped out for a very nice +7R Profit (ignoring slippage and commission).
Yes, there would have been a -1R loss just before the trade got going, but as you can see, this +7R profit more than made up for the small -1R loss first
OK, now let’s look at the logic behind the TS1 setup in more detail in my next post
Thanks, Steve
PS, I will also take a good look at this setup in my customer Advanced trading webinar later today (MTP customers only)
Today I would like to take a close look at a TS1 sell on the 3min ES yesterday. The reason I want to take a good look is that we have amended the code in MTP v6.0 to take account of double tops and bottoms, which we don’t have in the RT add-ons, so this TS1 sell was found in MTP v6.0 but not in the RT add-ons, so I want to explore it in detail to show you the logic behind it.
First, let’s look at the completed trade. As per the standard trade management guidelines, the ATRStop was used as the STF strength band was exceeded. The trade was then stopped out for a very nice +7R Profit (ignoring slippage and commission).
Yes, there would have been a -1R loss just before the trade got going, but as you can see, this +7R profit more than made up for the small -1R loss first
OK, now let’s look at the logic behind the TS1 setup in more detail in my next post
Thanks, Steve
PS, I will also take a good look at this setup in my customer Advanced trading webinar later today (MTP customers only)
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