Hi Everybody,
Yesterday was a brilliant example of why it is so important to follow all 4 of the US e-minis. I hear too many times that people are only interested inn the ES or YM. But just look at this brilliant TS4 buy on the 3min TF (Russell Index).
As you can see, after a -1r loss, then came a lovely +5.3R Profit (ignoring slippage and commission)............... A nice profit that you would have missed if you were only following the ES !
Lastly, I am asked a lot about DP’s. As they are “trend termination” setups, there are only to be used when they fall in line with the “larger degree trend” or larger degree support / resistance areas. As this takes a little more thought, they should be considered slightly more advanced, so should not be blindly taken by the newer traders among you
Thanks, Steve
PS, defiantly look at today’s Advanced Blog, as it shows a perfect +11R Profit !!
Yesterday was a brilliant example of why it is so important to follow all 4 of the US e-minis. I hear too many times that people are only interested inn the ES or YM. But just look at this brilliant TS4 buy on the 3min TF (Russell Index).
As you can see, after a -1r loss, then came a lovely +5.3R Profit (ignoring slippage and commission)............... A nice profit that you would have missed if you were only following the ES !
Lastly, I am asked a lot about DP’s. As they are “trend termination” setups, there are only to be used when they fall in line with the “larger degree trend” or larger degree support / resistance areas. As this takes a little more thought, they should be considered slightly more advanced, so should not be blindly taken by the newer traders among you
Thanks, Steve
PS, defiantly look at today’s Advanced Blog, as it shows a perfect +11R Profit !!
Posts
