As we already have seen, early in the day the 15min trend was down, so the DP sell on the 3min ES early in the day was a good one to consider.
As you can see, this resulted in a nice +2.8R Profit (ignoring slippage and commission) at the first target. So was a good trade.
But, and this is where most amateur traders go wrong, they see the market rally later and then assume that they were wrong, because they had not anticipated that this would happen. BUT (and this is so important to understand), our job as a trader is just to make money and not be “right”. Amateurs confuse the two. This was a good example because the rally was not anticipated, BUT when you look at the day as a whole you come away with a nice profits, and that should be your sole aim, to make money and not be right....
Thanks, Steve
As you can see, this resulted in a nice +2.8R Profit (ignoring slippage and commission) at the first target. So was a good trade.
But, and this is where most amateur traders go wrong, they see the market rally later and then assume that they were wrong, because they had not anticipated that this would happen. BUT (and this is so important to understand), our job as a trader is just to make money and not be “right”. Amateurs confuse the two. This was a good example because the rally was not anticipated, BUT when you look at the day as a whole you come away with a nice profits, and that should be your sole aim, to make money and not be right....
Thanks, Steve
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