Wednesday 29 July 2009

Now for the Advanced Traders...

OK, we have already see that the NQ was moving up into the “opposing” DP level, so what do you think would have been the sensible thing to do when you reached the 15min DP resistance zone AND you were at the maximum Wave 3 WPT on the 3min Chart AND that bar came on a high volume VSA spike AND you were sitting on a massive +10R Profit ?

Exactly, tighten stops................ This enabled you to come out at the high of the day ! Long from the low of the day to bank profits at the high of the day for +10R Profit (ignoring slippage and commission), not bad :-) , and all it took was a little advanced knowledge and experience. All of the tools that you need are in MTPredictor, you just need to take the time and make the effort to learn how to use them.

Thanks, Steve