Hi Everybody,
Friday was an interesting day with some sells as well as buys on the short-term US Indicates. A good example is on the 3min YM, see chart.
The easiest was the TS4 buy later in the day, as that went straight up into the close for a nice +2.4R Profit (ignoring slippage and commission). I also like how the setup unfolded on a VSA high volume spike as well....
The TS3 sell earlier in the day was slightly trickier on the trade management, with the question being whether to use the 100% initial risk break-even guideline. So at worst case this would have been a -1R loss, which is smaller than the +2.4R Profit on the TS4 buy (above). Small losses and Big profits – the key to successful trading....
Also notice how the DP nailed the high of the day for you as well :-)
Thanks
Steve
Friday was an interesting day with some sells as well as buys on the short-term US Indicates. A good example is on the 3min YM, see chart.
The easiest was the TS4 buy later in the day, as that went straight up into the close for a nice +2.4R Profit (ignoring slippage and commission). I also like how the setup unfolded on a VSA high volume spike as well....
The TS3 sell earlier in the day was slightly trickier on the trade management, with the question being whether to use the 100% initial risk break-even guideline. So at worst case this would have been a -1R loss, which is smaller than the +2.4R Profit on the TS4 buy (above). Small losses and Big profits – the key to successful trading....
Also notice how the DP nailed the high of the day for you as well :-)
Thanks
Steve
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