Just in Time

Hi Everybody,

This is what I call perfect timing, notice how we got an automatic TS3 sell “just before” the DAX declined sharply. As such this was the perfect place to enter a short trade to take advantage as the Dax fell.

A very quick Profit or +6R )ignoring slippage and commission) was available as the Dax reached the Typical Wave 3 WPT target...........

Amazing, and I love it when the automatic setups give us such brilliant trades as this !

Thanks, Steve

Holiday

Hi Everybody,

Steve is away for a few days on a well earned holiday, so there will be no Blog posts for a few days.

Thanks

Steve

What a brilliant day !

Later in the day we had a automatic TS1 sell (on a red STF) that caught the last decline into the low of the day. This added another +3.8R Profit )ignoring slippage and commission).

What a brilliant day – with approx +10R Profit and all in just one day. This is why I keep talking about the Cyclical Nature of Trading, because it is days like this that will clear all those small -1R trades and put you back onto Profit. This is why it is so important keeping the losses small when they unfold. As Big Profitable days like this will then wipe out all these small losses and make money for you overall.

What a brilliant day ! Thanks, Steve

PS, but it did not stop there, see the Advanced Blog...........

What a brilliant day !

Hi Everybody,

As you all know, trading goes in cycles, this is what I call the Cyclical Nature of Trading. The Standard Traders among you have had a hard time recently, but that all changed on Friday, when we had some brilliant standard and automatic trades on the 3min YM.

Let’s start with the TS4 sell at 12:24EST. This nailed the high perfectly, just before the YM declined sharply. Even at the DP target there was approx +6.4R Profit (ignoring slippage and commission). What brilliant start to the day, but it did not stop there ! See the next post.

Thanks, Steve

Against the trend

Hi Everybody,

I know this is more of an “advanced post”, but berceuse I get asked this questions a lot, I thought I would post it here. The question i, how to manage a trade “if” you are “against” or you feel “unsure” of the larger degree trend.

Well, as I teach, when you are either “against” or you feel “unsure” of the larger degree trend then you should be more aggressive with managing your trade. For example using the 100% initial risk guideline. This is good as it gets your stop to “break-even” quicker so you are protected, while still allowing a little “wiggle room” for the trade to go your way.

A good example was this DP sell on the 3mion Dax from this morning. The larger degree trend was not clear, so moving the stop to break-even as soon as the short reached the 100% initial risk level was a good idea. This level was not hit and the short (in this example) went onto reach the first target where +4.8R Profit (ignoring slippage and commission) was available. Yes banking profit earlier is also a good idea when the larger degree tend is unsure

Thanks, and I hope this helps ?

Steve

Big Profits from Standard setups as well

Hi Everybody,

Although Advanced Analysis can give you Big Profits’ please don’t assume that you “have” to perform Advanced Analysis to get the big Profits. Here is a great example of a Big +7.6R Profit (ignoring slippage and commission) that has just unfolded on the 3min FTSE this morning.

This was a completely Standard setup, with the TS3 buy falling in line with the blue STF. Trade management was standard also, with Profits being taking at the first WPT Profit target as the STF was weak (less than its strength band).

So here we have a completely standard trade setup that made a big +7.6R Profit.

MTPredictor, doing its job for Standard and Advanced Traders alike !

Thanks, Steve

Advanced Analysis – what to inspire to

Hi Everybody,

I am not going to do a “standard” post today, mainly because the “Advanced” setups yesterday on the US e-minis were so brilliant. With a massive +18R Profit (ignoring slippage and commission) on the 3min Russell.

Trades like this are the main reason I designed MTPredictor in the first place. These are the kind of trades I would look for many many years again in my own trading before I had MTPredictor. So I hope you can all make the step to Advanced Trader because this is where the Big Profits come, and I do so want all of you to do well and as such become successful and very Profitable traders,. This is why I spend so much time with all this Education.

The next step is up to you. In MTPredictor you have all the tools you need, and as you can see from this Russell Index trade, +18R Profits do unfold, you just have to be ready to take them.

So please all take a look at today's posts on the Advanced Blog http://elliott-wave-trader.blogspot.com/

Thanks, Steve