I review some Crucial steps to success on Elite MVP here and cover a nice gold trade from this morning 5/2/2014 that i did in the room/on air after the NFP report.
This chart shows Apex Elite Simple Entries and Add on Apex Entries (5 Simple Steps)
- When the APEX Color (green buy or sell red) -
- The color of the APEX lines up with MVP line (the dashed green/red line)
- Then enter 3 ticks above the high of the E bar (within 3 bars) (if buying) or 3 ticks below the low of the E bar (within 2 bars - if selling),
- Put your stop loss 5 ticks below the P (when buying) or 5 tick above the high of the P bar when selling
- Then trail your stop using the MVP line until your trailing stop is hit. Repeat to add on additional positions in big running trends to capture even more gains (basically add into scale into your winning traders - not your losing trades)
Optional - note deviation levels + 1 or -1 or higher lower (hi to low as well), and/or you have a velocity bar - Then when a bar reverses on higher volume and breaks the low consider tightening stop more if needed, hedging, or existing some or all of position.
18.7 call to close of gold pit at 1:30 PM ET (note stopped taking apex entries when it hit the magnet target price (see screenshot below)
Just Apex Entries… See Results From Today
12.2
10
10.1
8.3
6.6
6.0
5.1
+3.2
61.5 / .10 = 615 ticks x $10 a tick = $6150 in profit
