Our forex and futures trades really gave us a ride today, with a variety of trades and an awesome result. The session started slow and tight but as we know, the best trades come from tight price action to the patient and experienced trader. In short, the SST did what it was supposed to do. It kept us out of most of the chop and then had us in, when the winners started to pile in. Staying out of most of the chop is exactly what we want. It’s foolish to try to avoid all of it if you hope to trade to a profitable result. You end up missing the winners and utterly frustrated. Better to just let the SST mitigate the risk and let the tradeplan work its magic.
Speaking of tradeplans, I realize that the idea of a tradeplan makes sense to many of you but is also a hard thing to specifically wrap your mind around. In the next few days, I’m going to post a video walking through a tradeplan, a to z, so that you have a better idea of what we are referring to.
SST Owners had a field day today across so many different markets. Even the Russell, which has had a tough week and typically trades in a difficult way leading up to the big grand daddy economic report, Non-Farm Payroll, which comes out Friday, recovered in a big way, stringing together a 5 trade winning streak and an excellent + 6.4 points, to end the session.
Russell eMini ends the month of August with a huge bang; up + 80.9 points!
EURUSD; +37 pips today. Up +960 pips for the month of August!
EURJPY gains +108 pips today. Up +382 pips for the month
Crude Oil Futures wins +.31 today with our specialized tradeplan for Crude Inventory Report days. We’re up + 11.33 for the month! That’s $11,330!!
Wheat Futures; after a touch losing session yesterday, only the 2nd losing session all month, we ended with big gains today, + 14 points and a monthly total of +120.5 points!!
Stock trades up hugely all month too. We caught the big sell off early in the month with many of our favorite names. We caught huge moves in GLD and SLV etfs both on the long and short side. We’re now ringing the cash register on long stock plays as well. In short, it has been amazing. For example, I just closed out a Sep 190 call on AMZN when it hit its full target for an 83% gain in just a few days.
It’s never been a better time to be an SST Trader. But, we’ve been saying that for over a year now. By the way, Happy Anniversary SST. We just had our 1 year anniversary and we’re doing today what we’ve been doing all along!