Unlike most Gurus, I also talk about the harder trades as well as the loses. This is important so you all have a balanced view of how trading unfolds in the real world. This TS3 buy on the 3min NQ on Friday was a good example.
Although the long trade exceeded the 100% initial risk level, the larger degree trend (on the 15min Chart) did look to be up at the time. So you could very well have decided to leave the stop at the original position. As such this would have been a -1R loss. But (and this is the important point), the loss would have been small and controlled. A -1R loss when compared to even the +2.5R Profit on the ES is small. And just remember the Profits of +6R and +8R from mid last week. That is what successful trading is all about, keeping the inevitable loses small and under control.
Thanks
Steve
Although the long trade exceeded the 100% initial risk level, the larger degree trend (on the 15min Chart) did look to be up at the time. So you could very well have decided to leave the stop at the original position. As such this would have been a -1R loss. But (and this is the important point), the loss would have been small and controlled. A -1R loss when compared to even the +2.5R Profit on the ES is small. And just remember the Profits of +6R and +8R from mid last week. That is what successful trading is all about, keeping the inevitable loses small and under control.
Thanks
Steve
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