Considiering the challenges we were faced with today, I’m happy with our session as most of our futures and forex trading ended positive and victorious. I use the word victorious because we had to put our faith and belief completely in the SST trade method and just — LEAN ON THE SYSTEM! In so doing, we were able to post respectable gains (awesome gains on some markets) on 4 of our 5 charts.
The bloodiest battle took place in the Russell eMini. We had to fight, beat, claw and ultimately power our way back from a ‘Bernanke Testimony Day’ session that we knew going in, especially after the huge haircut the markets took yesterday, that we were in for a serious challenge. For newbies just becoming acquainted with our our traderoom and the SST, I’m sure it was an eye opener. For veteran SST Traders, with a firm foundation and belief structure in place, it was just a matter of detaching oneself and taking the next trade. Also of course, paying attention and executing properly. The market went through its maniacal moments today. In the end, the Russell eMini fought its way back and ended with Power of Quitting goals, +2.1 points. Yesterday we gained +6.4, so were are nicely positive this week with +8.3 points. We are just a few points below our all time record profit levels.
The other hard fought battle today was in EJ. It was a back and forth fight. We caught a couple good winners in the end but still wound up negative, -52 Pips. But the EURUSD sure came through for us. After a breakeven trade (-2) and a small losing trade (-28), we were able to pick up a strong +75 pip winner and ended the session with our 2nd winning session in a row to start October and the 4th quarter, +45 pips for the session.
The two rockstars of the session were Crude Oil and Wheat Futures. Crude Oil finished with another strong perfomance, two trades, two winners, Power of
Quitting and +1.22 on the session, $1,220. It is on a 4 session winning streak, going 2 for 2 in each of the last four sessions, since it kicked us in the shins last Thursday. Here’s something to help bolster your belief in the SST. Since one of the hardest sessions all year (last Thursday), Crude Oil as come surging back, winning ALL trades and posting over $3 in profits; over $3000. I say it all the time and here is another case in point, the SST recovers quickly but you have to have your foundation in place, your belief structure in place, if you hope to benefit from its fast recoveries. The best trades follow the hardest sessions. Don’t miss them.
Wheat, like yesterday, finished lightening fast and we were done within 13 minutes of trading. We grabbed +9.25 points, $412.50 to add to our +10.5 from yesterday. 4 trades, 4 winners, 13 minutes per day, and +19.75 points richer at $50 per point.
The moral of this story is that it takes an unwavering belief in the system to hang in there, on the right side of the chart, when the bullets are flying around, to take the next trade and to then benefit, from the winning edge that the SST gives us. This belief structure requires work and effort to develop but for those who take the time to go through the process, the rewards will be there.
I’m looking forward to tomorrow’s session.