3min ES

Hi Everybody,

Yesterday was another perfect example of why I want you to all become “more advanced” traders and as such be able to “read” the charts, as you will see in the Advanced Blog, this would have given you another massive +9.9R Profit on the 3min NQ yesterday, making back to back +10R Profits over the last two days using Advanced Analysis............... This is the true power of MTPredictor and why, once you understand how to use it properly, you will see how it is one of the most powerful software programs around.....

But I do understands that many of you need to learn to walk before you can run, so let’s take a look at just the standard setups on the 3min ES yesterday, which was a hard day.

As you can see, there were two sells early in the day, the first was a -1R loss, but on the second, can you see how the STF turned red just after the long trade was entered, this was a sign to either get out or move stops closer.

Then we had a TS2 sell, that would have been a -1R loss or break-even depending on whether you used the 100% initial risk guideline. But it is the TS3 later on that interested me most. Mainly because it did reach the minor DP where a small profit was available, especially as other markets (as we will see on the Advanced Blog) were making brilliant buy setups.

So a tricky day, but then the Advanced Analysis kicked in with some perfect trades, please see the Advanced Blog.

Thanks, Steve

TS2 sell on 3min ES

Hi Everybody,

To celebrate that we have started the “Beta testing” of the new RT MTP add-ons for NinjaTrader 7, I will do today’s post using NinjaTrader 7.........

Friday was a good day with a TS2 sell unfolding on the 3min ES, that nailed the high of the day for you ! Using the standard trade management guidelines would have meant coming out for a +2.3R Profit (ignoring slippage and commission).

Some people will complain at that, but then they will have forgotten the +2R Profit from the YM the day before, and then compare this to just a small -1R loss on the 3min YM the day before.................. All these Profits were much larger than the losses, and that is what makes money overtime.... Big Profits and only small losses.

Thanks, Steve
PS, I know that you would all loved to have caught the whole decline, well pop over to the Advanced Blog to see how........

Beware the creeping DP

You will also notice on that 3min YM chart that we had two DP sells, neither of which worked out. BUT, notice how they are against a blue STF, so both should have been avoided.............

DP’s are brilliant for nailing the “end” of a trend, but because they are “trend termination” setups they should be used with caution, ............ Especially when they appear in a market that is “creeping” like the YM yesterday. On days like this, DP’s should be avoided......

DP’s are best used only by the more experienced trader and then only when they line up with the larger degree chart.

Thanks, Steve

YM yesterday

Hi Everybody,

The last two days have been a brilliant example of why it is so important to keep your losses small. On Tuesday the 3min YM made a -1R loss. But then yesterday we had a TS2 buy setup, that nailed the low of the day for you ! But the important point is that the profit from this was +2.1R (ignoring slippage and commission)..................... In other words wiping out the prior days loss and putting you back into Profit over all. Small losses and Big Profits, that is the key to successful trading.

I know that +2.1R is only small profit, but you have to remember that we are still in the quiet part of the trading cycle, so small profits and small control losses should be expected. It will not be long before we get back to some much bigger profits.

Thanks, Steve

The Dax saves the day with +9.7R trade...

Hi Everybody

Even when the US e-minis have been quiet over the last few days, the 3min DAX come up with this massive +9.7R Profit (ignoring slippage and commission) just this morning..................

A good one for the European Traders among you :)

Thanks, Steve

Loses can and do happen

Hi Everybody,

As I outlined yesterday, we are now in the quieter part of the cycle (Cyclical Nature of Trading), and as such we should expect some losses. Yes, despite what some software vendors and Gurus tell you, losses can and do happen, they are a very important part of a successful trading approach. Why are they so important ? Well it is important that they are kept small. And this is what MTPredictor does....

As you can see from the TS3 sell on the 3min YM yesterday, the loss here was kept small at just -1R, or one risk unit.

As we go through this quieter part of the cycle, we are safe in the knowledge that losses are being controlled, so we are ready to maximise our profits when we get back to the good and profitable part of the cycle, which is coming soon............ This is just the way market unfold in the “real world”.

Thanks, Steve

Quiet days

Hi Everybody,

Remember a few days ago I talked about the Cyclical Nature of Trading and how after a quiet period, we were due to come back to some god trades ? Well that unfolded as anticipated and we have now had a number of very good days with some good profitable trades................ But, after a period of good and profitable trades, we must expect the cycle to continue and us enter the quiet part....... This is what happened yesterday with a very quiet day on the US e-minis.

The 3min NQ yesterday was a good example, were we had two potential sell setups, but these were both “against” a blue STF so should have been avoided............

As you can see, a very quiet day. But this is OK, because now we all understand the Cyclical Nature of Trading, we know to anticipate quiet times, especially just after a run of very good and profitable trades....

Thanks, Steve