Pyramiding ?

OK, we already know that we should have avoided the sells, but what of the TS3 buy that came up later in the day ? The problem, is that you were already long off the DP low, so is there anything you can do ?

Adding to positions is called Pyramiding, and is not something I talk about a lot as it is an Advanced technique. But what you can do, is when you have confidence in the larger degree trend, then Advanced Traders can consider taking “additional” positions in the same direction. BUT, always make sure that you have protective stops locking in at least a small Profit on your first position if you consider this.

The Result was a nice +5.1R Profit (ignoring slippage and commission) at the Typical Wave 3 WPT. This was uses over the ATRStop as it was so close to the end of the trading day.

The result was an “additional +5.1R Profit to add to your +3.9R from your first trade, making it a +9R day on the 3min NQ yesterday, which was brilliant.

Thanks, Steve

DP Buy nails the low of the day....

OK, now we know that we should be looking for Buys, we can see how we got a DP buy that nailed the very low of the day for you !

Although the rally off the lows did not reach the first projected target, there was a nice +3.9R Profit (ignoring slippage and commission) available on the close.

Thanks, Steve

As usual, first the larger degree trend....

Hi Everybody,

The NQ gave a great example of this yesterday. If you look at the chart, you can see, how we got a TS3 buy yesterday on the 15min Chart, this then set the 15 trend as UP for the rest of the day.

As such, you should have been looking for Buys (and ignoring sells) on your shorter-term 3 and 5min Charts.

So now, let’s take a look at the 3min NQ and see what we get.....

Thanks, Steve