Some professional fund managers would be happy to get a 12% return in a year. On a Dax 1-minute chart, you'll often see opportunities for that in less than an hour, as we found this morning. I wasn't alone in getting that trade and this one only took half an hour. A 1% risk gave a 12% return - you can do the sums if you'd rather risk 2 or 3% per trade.
So how do you do it? Using eWavesHarmonics, looking to buy the dips and sell the rallies ... seeking the lowest pip-risk, as in the above example. After the London Open, price fell a little, before slowly making its way up, in a 5 wave move - this looked like the first motive wave up and we know they come in threes. After that, it was just a matter of waiting for a correction
There was much more than 12R available this morning. My first entry was just tagged with a trailing SL - for a little over 1R - could have been managed a bit better, I admit. No bother, though, the correction that took me out, immediately provided another entry, as price corrected to test a small momentum gap (you are missing out big-time, if you don't pay attention to the small gaps). The second trade had profits locked at 12R - then it was just a case of seeing where price might go to. As it happened, it went as far as the H1 kick-start gap and promptly reversed. Perhaps some more upside to come later ... we will see when New York wakes up.
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