Don’t forget the 5min Charts

Hi Everybody

A couple of weeks ago I reminded you all not to forget the 5min Charts, well Friday was a good example of this. The 3min Charts on the US e-minis were slow, but the 5min NQ gave us a buy signal that nailed the low early afternoon perfectly.

Yes there was a small (-1R) loss earlier as the NQ was dropping into the low. I hope you will all like the new “Historical signals” feature of the new MTPredictor v6.5RT once it has been launched...... Anyway, once the long trade was filled, the 5min NQ started to rally nicely. The only question came as an “opposing” sell appeared later in the day. As I have already said, “if” you are already in a good position that is “with” the larger degree trend, it makes no sense to want to swap to a weaker position that is “against” the larger degree trend”. Therefore, this sell should have been ignored.

The 5min NQ, then reached the DP (from the prior wave b high), where a high volume (VSA) bar unfolded. This was the signal to tighten stops. The result, was a +2.7R Profit (ignoring slippage and commission), adding this to the -1R loss from earlier in the day, and overall Friday on the 5min NQ should have been profitable.

Thanks, Steve

Another quiet day.......

Hi Everybody,

Phew, after all the excitement and huge profits on Wednesday, Thursday was a lot quieter. Again, this is just the Cyclical Nature of Trading at work

Thanks

Steve

TS4 at the end of the day......

So far so good on the NQ with a massive +9.8R Profit late morning, but the NQ did not stop there.

As you can see, we got a nice TS4 buy later in the day for another +2R Profit (ignoring slippage and commission).......... Add this to the +9.8R and -1R trades from earlier and the 3min NQ had a massive day yesterday.................

Again, this is a perfect example of how the Cyclical Nature of Trading works out. After a few hard and tricky days, we then have a massive profitable day...

Thanks

Steve

Check the details.....

In the last post you say how we have two history signal triangles just before our winning TS3 long trade. So does that mean two -1R losses. No, that is why you need to use the Analysis commentary to take a look at the signals.

When you do this you will see that the first long trade was not stopped out when the second triangle came in, so this would only have been one trade and one -1R loss.

Please see this help video Click Here for more info, but these are “filled” MTP trades, not “failed” trades, so you need to check the details to see what actually unfolded.

The History Signals are a new feature in the upcoming V6.5RT version of MTPredictor.........

Thanks

Steve

Well I did say :-)

Hi Everybody,

Well just yesterday I did say that we were overdue for a good day on the US e-minis, and the 3min NQ gave us just that.

To start with I would like to look at the TS3 buy that unfolded late morning. As you can see, this got you long just before a sharp rally. As the STF has exceeded its strength band, the ATRStop was used for trade management. The result was a massive +9.8R Profit (ignoring slippage and commission). What a brilliant trade and shows how amazing the Cyclical Nature of Trading is, and why after a few quiet days we then get such a massive profit like this.

I hope you were all ready and as such made the most of this one :-)

Thanks

Steve

The Cyclical Nature of Trading again....

Hi Everybody,

Isn’t the Cyclical Nature of Trading amazing... After a horrible choppy and sideways day on Monday, we get a nice TS4 buy on the 3min YM yesterday (Tuesday). As you can see (using the standard trade management guidelines) this made a nice +3.5R Profit (ignoring slippage and commission) at the first projected target. Although this was not a huge profit, it was a profit.............

But the reason I mention the Cyclical Nature of Trading is that we are now overdue for some nice good and big profits. We have had a period of frustration when the markets have been tricky, and it is typically now that most amateurs get frustrated and give up. BUT, as we have seen so many times before, it is now that the best trades unfold.

A wise old Chinese proverb says “it is darkest just before dawn”, meaning, just when the amateur traders give up, is when the good trades come through. This is why I talk so much about the Cyclical Nature of Trading so you all understand how markets really unfold, and why you should not get frustrated just because the market has had a few hard and quiet days.............

So let’s see how the next few days unfold......

Steve

A day to avoid............

Hi Everybody,

Yesterday was a day to avoid on the US Indices. As you can see, all they did was chop sideways in narrow swings. Very very hard to trade days like this, so are best avoided...........

Steve