Thanks Steve. Thank you for this massive + 29R today on $/Yen on 3 min chart. This was possible with the market analyzer of Ninja Trader which allows me to follow several currencies at the same time. The set up was a standard TS3... But I chose not to close the trade on first target as the DP support on 15 min chart was not yet touched. When this DP on 15 min chart was reached, we were already on strong STF in 3 min.... So I let the trade follow its way until I was stopped with a 29R profit!!!!!!
In today’s MTPredictor video I take a look at the “Cyclical nature of Trading”, and how Profits and losses unfold in the Markets. As an example, I take a look at the 3min Nifty (Indian Markets):
As you can see from the video, there are periods when the market is quiet (un-tradable) as well as periods when losing trades come through. But the important point is to keep the losses small, so that when the Profits come through they are large in relation to the losses.
Risk Disclaimer and Disclosure.
Trade at your own risk. The information provided here is of the nature of a general comment only and neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person's investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. You should seek appropriate advice from your broker, or licensed investment advisor, before taking any action. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance track record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under or over compensated for the impact of certain market factors, such as the lack of liquidity. Simulated training programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profitable trades similar to those shown.
All trades shown are hypothetical, they were not executed, they are just shown for illustration and training purposes only.
There is risk of loss in trading and investing. All trade decisions are your own sole responsibility.