Hi Everybody,
Here is an absolutely perfect example of the Standard setups and standard trade management guidelines in action.
If you look at this 3min Dax chart you can see that we had a TS2 sell earlier in the day that resulted in a -1R loss (triangle on the chart). This was followed by another TS2 sell, and because this short was so far in Profit, stops should have been at least at break-even, if not slightly in Profit.
Then we had some potential buy setups unfold................ But the STF was red, so these were ignored. Then we got another TS3 sell this time that nailed the high before the Dax declined sharply. Notice how this was still with the red STF direction.... The STF was weak (less than the strength band) so Profit was banked at the first profit target – The result a nice +5.9R Profit (ignoring slippage and commission)
But do you see how the STF has kept us in the main down trend, and helped avoid the weaker buy setup. Even when a loss was made it was kept small, much smaller than the +5.9 Profit, meaning money was made overall. No second guessing, all was under control and managed carefully, all the way....
Thanks, Steve
Here is an absolutely perfect example of the Standard setups and standard trade management guidelines in action.
If you look at this 3min Dax chart you can see that we had a TS2 sell earlier in the day that resulted in a -1R loss (triangle on the chart). This was followed by another TS2 sell, and because this short was so far in Profit, stops should have been at least at break-even, if not slightly in Profit.
Then we had some potential buy setups unfold................ But the STF was red, so these were ignored. Then we got another TS3 sell this time that nailed the high before the Dax declined sharply. Notice how this was still with the red STF direction.... The STF was weak (less than the strength band) so Profit was banked at the first profit target – The result a nice +5.9R Profit (ignoring slippage and commission)
But do you see how the STF has kept us in the main down trend, and helped avoid the weaker buy setup. Even when a loss was made it was kept small, much smaller than the +5.9 Profit, meaning money was made overall. No second guessing, all was under control and managed carefully, all the way....
Thanks, Steve
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