3min DP sell on the ES

As we already have seen, early in the day the 15min trend was down, so the DP sell on the 3min ES early in the day was a good one to consider.

As you can see, this resulted in a nice +2.8R Profit (ignoring slippage and commission) at the first target. So was a good trade.

But, and this is where most amateur traders go wrong, they see the market rally later and then assume that they were wrong, because they had not anticipated that this would happen. BUT (and this is so important to understand), our job as a trader is just to make money and not be “right”. Amateurs confuse the two. This was a good example because the rally was not anticipated, BUT when you look at the day as a whole you come away with a nice profits, and that should be your sole aim, to make money and not be right....

Thanks, Steve

15min trend

Hi Everybody,

Yesterday was a good example of what happens when the larger degree trend does not pan out as originally anticipated......

Here we had a TS3 sell on the 15min ES early in the day, so that set the larger degree trend to down. But, the ES only declined slightly before reversing and then rallying to new highs.

So does this mean that our analysis was incorrect ? Let’s take a look at the 3min chart and see............................

Thanks, Steve

DP sell nails the high of the day !

OK, now we have seen that we should be looking for sell setups and (just as important) avoid any buy setups, this DP sell on the 3min NQ was a good one to consider. As you can see, this nailed the very high of the day for you !!

The NQ declined into the first projected profit target where the STF was strong. So standard trade management swapped to the ATRStop. This ran the trade a little further, for a nice +3.6R Profit (ignoring slippage and commission)

As a PS here, if the ATRStop “swaps” side quickly and you are in a trade, then simply start to trail the stop 1 tick beyond the bars highs, this is what happened in this example.

So there we are, short from the high of the day for a nice +3.6R Profit (ignoring slip[page and commission), which is a good result, especially after having been quiet for the last few days. But then this is just the Cyclical Nature of Trading, and something I talk to you about regularly..

Thanks, Steve

As usual – larger degree trend first

Hi Everybody,

As usual, let’s look at the “larger degree trend” first to get the direction for the actual trade entries. As you can see, we had a TS2 sell on the 15min ES, we also had a TS3 sell on the 15min TF (not shown), so this set the trend to down.

As usual, we now move down to the shorter, 3 and 5min charts for the actual trade entries

Thanks

Steve

DP low on 15min NQ

Hi Everybody,

As I suggested last week, we are now in the hard / quiet part of the cycle (Cyclical Nature of Trading), so it is not surprising that things are quiet at the moment. BUT, as we have seen so many times before, it is not that we know that soon we will come back into the good (and profitable) part of the cycle when we will get a string of good and profitable trades. So it is now that all professional traders get more alert to setups, and amateur get bored. This is the difference between professional who understand that trades go in “cycles” and amateurs who have no understanding of how markets unfold in the “real world”

Notice how the 15min trend was down into the DP buy on the 15min NQ chart which then turned the larger degree trend up later in the day on Friday.

Thanks

Steve

3min DAX

Hi Everybody............

The European traders among you are having a good run at the moment, with another nice TS3 trade on the 3min chart.

As you can see, the DAX declined into the first projected profit target where a nice +4.5R Profit (ignoring slippage and commission) was available.....

Thanks

Steve

15min ES Chart

Hi Everybody............

Well, I did say that the ES had made a high at DP resistance and the 15min trend was now down, so yesterday’s sharp decline should have come as no surprise to anybody :)

This is the power of MTPredictor.............

Thanks

Steve