OK, I know that traders don’t like losing, so could we have done better ?
Well using the standard trade guidelines, all these three setups were valid. BUT I want to take a closer look at the first TS4 setup. As this is not really advanced analysis as it is covered in the trading course (and I know that you have all read and carefully studied the Trading Course !!) I will include it in this Blog. You will already know that the DP from the minor Wave b high or low is very often the place a setup will fail (if it is going to fail). As you can see, this nailed the high from the TS4 buy perfectly............. So how can you use this information ?
Well, at the very least, once a trade gets to this level you should start to think about raising your protecting stop. In this example if not to break-even, then at least to just below the last minor swing low.
This would have had the effect of reducing the loss here even further, so “ideally” this would have been 1 break-even, then 1 loss and then 1 Profit. So only 33% losing trades - a much better figure to live with
Thanks, Steve
Well using the standard trade guidelines, all these three setups were valid. BUT I want to take a closer look at the first TS4 setup. As this is not really advanced analysis as it is covered in the trading course (and I know that you have all read and carefully studied the Trading Course !!) I will include it in this Blog. You will already know that the DP from the minor Wave b high or low is very often the place a setup will fail (if it is going to fail). As you can see, this nailed the high from the TS4 buy perfectly............. So how can you use this information ?
Well, at the very least, once a trade gets to this level you should start to think about raising your protecting stop. In this example if not to break-even, then at least to just below the last minor swing low.
This would have had the effect of reducing the loss here even further, so “ideally” this would have been 1 break-even, then 1 loss and then 1 Profit. So only 33% losing trades - a much better figure to live with
Thanks, Steve
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