Now for the Advanced Traders among you.....
As you all know, once you become more advanced you can start to look at the patterns in greater detail and start to decide when and when not to follow the standard trade management guidelines (these are for newer traders).
As we have already seen, there was a good DP support zone well below the market, so we could have used this as a “further out” target to “run” at least part of our current short trade from the automatic DP sell. There was also a good 5-wave decline unfolding on the 5min Chart (not shown) that would have helped guide this short as it ran lower.
So the Advanced Trader could have held on until this larger degree DP support zone was reached. As you can see, this would have increased profits to nearer +9.8R (ignoring slippage and commission)
Again, this is only for the more Advanced Traders among you, but does show what is possible once you become more experienced, and I have not even started to talk about possible pyramiding possibilities to increases this profit even more
Thanks, Steve
As you all know, once you become more advanced you can start to look at the patterns in greater detail and start to decide when and when not to follow the standard trade management guidelines (these are for newer traders).
As we have already seen, there was a good DP support zone well below the market, so we could have used this as a “further out” target to “run” at least part of our current short trade from the automatic DP sell. There was also a good 5-wave decline unfolding on the 5min Chart (not shown) that would have helped guide this short as it ran lower.
So the Advanced Trader could have held on until this larger degree DP support zone was reached. As you can see, this would have increased profits to nearer +9.8R (ignoring slippage and commission)
Again, this is only for the more Advanced Traders among you, but does show what is possible once you become more experienced, and I have not even started to talk about possible pyramiding possibilities to increases this profit even more
Thanks, Steve
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