Hi Everybody,
Again, unlike most Gurus and software developers, I look at the hard times as well as the losses. A good example was the TS3 sell around Lunch time on the 3min ES.
As you can see, this would have resulted in a -1R loss. Yes it was valid as it was “in the direction of” the larger degree 15min trend (next post), that had just reversed off DP resistance. My only concern was that the ABC pattern was not very “symmetrical”, the wave b swing was far too short in time to “look good”.
Most amateurs don’t understands that losses can and do happen, that is why we have stops in place and keep the loss small at just -1R. Again, this is all part of the Cyclical nature of Trading, and how we are now in the hard part of the cycle, after the massive profits mid last week. This is just how the markets and Profits and losses unfold in the “Real World” ......
Thanks, Steve
Again, unlike most Gurus and software developers, I look at the hard times as well as the losses. A good example was the TS3 sell around Lunch time on the 3min ES.
As you can see, this would have resulted in a -1R loss. Yes it was valid as it was “in the direction of” the larger degree 15min trend (next post), that had just reversed off DP resistance. My only concern was that the ABC pattern was not very “symmetrical”, the wave b swing was far too short in time to “look good”.
Most amateurs don’t understands that losses can and do happen, that is why we have stops in place and keep the loss small at just -1R. Again, this is all part of the Cyclical nature of Trading, and how we are now in the hard part of the cycle, after the massive profits mid last week. This is just how the markets and Profits and losses unfold in the “Real World” ......
Thanks, Steve
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