It is hard to know where to begin. So I’ll start with our longest running tradeplan. The Russell eMini, in short, had one of its best weeks ever, gaining a respectable month’s worth of profits, the first week of August. Dawg Days — Shmawg Days!!
It was a very eventful week, no doubt, with US debt ceiling suspense, major concerns over European Debt, a huge massacre in world stock markets with all major indices taking a serious shallacking. So how is the SST doing so well in spite of all these challenges? Simply, all these challenges that the world is faced with moves markets. And when markets are moving, the SST just does what it does. It puts the odds in our favor and gives us excellent trade setups. Then it is just a matter of being a professionally minded, disclined trader who has taken the time to get trained, build a strong foundation, take ‘ownership’ of the system, learn the tradeplan, etc., etc. That is what being a professional would do at any endeavor. It’s all there for us. We’ve been doing it the same way for a long time now.
This week, there were huge gains on many different markets. The Russell eMini, being one of our main model markets was absolutely spectacular. It had two sessions where it gained double digits; Monday it gained +16.2 points. Friday, it gained +10.4 points. Friday’s session only took us 15 minutes!! It also gained +6.8 on Tuesday and +3.7 on Wednesday. Thursday, it actually lost a little bit. But by the end of the week, it was up over +35 points. We are now less than + 6 points shy of the big +300 point level for the year and of course, we are sitting at all new record profit levels again.
See Russell eMini Trades from Friday’s Session; + 10.4; $1040 if 15 minutes!!
Crude Futures had a stellar week too. Crude Oil prices also tanked this week, breaking below the $90 level. Hopefully the prices will stay low too, for obvious reasons. The real tax on all of us has been the devaluation of all our money, but that’s another story. As SST traders, the price movement in CL has been very profitable. This week alone, using our well known, tried and true tradeplan as called live in our traderoom, gained +1.79, $1,790. The results from this week, Mon thru Fri were: +1.06, -.30, +.35, +.16, +.52. So far, since starting our live signal service on the last trading day of July, our SST CL tradeplan is up + 3.19, $3,190 in just 6 sessions!! Our Signal Service members haven’t even been billed yet, and already, just our crude oil trades have paid for over 15 months of service. The Russell has even paid more!
But that’s not all. Our Wheat Futures tradeplan is on a 15 session winning streak. We finally had a losing trade on Friday but still ended positive for the session and for the week. It was our very first losing trade since beginning our LIVE Signal Service. Wheat Futures racked up an amazing + 41.50 and at $50 per point, that ends up being $2,075. Add to that the +11 points earned the last day of July, and you can see why we have a lot to be smiling about.
EURUSD, using our 5 minute chart SST Tradeplan ended the week up + 406 pips, winning every session except for Friday where we lost – 42 pips. Since opening the Signal Service, we are up +495 pips in just 6 sessions. This tradeplan has produced 12 trades since going live with the signal service and has won 11, and only lost 1 trade, if trading it perfectly. I did make a mistake on Wed’s session (Aug 3), by failing to see a successful setup to get in sync with to start the morning. The trade triggered in at 7:50 am but didn’t really get going until right around our start time at 8:30. Unfortunately, I missed it.
That trade hit its full target and the tradeplan results then ended with power or quitting goals being met, since the 2nd trade got to a profitable position and ended up stopping out at breakeven after accounting for spread. That is when we would stop. Two winners, one being a full winner and the other being a partial winner, no matter how modest. Actual net results for the week would probably be approximately 60 or 70 pips less than the perfect tradeplan results, due to that one mistake. We all hate mistakes and do our best to avoid them but they are a part of trading. All we can do is practice our craft, always seek to improve, and of course, learn from our mistakes. Getting in sync with where the system is trading, to start our EURUSD 5 minute chart tradeplan is very important.
See Trades for Thursday August 4th; + 67 Pips
While we will continue to call EURJPY trades as well, it is not a market that I am currently tracking officially. Not because it doesn’t trade well and certainly not because I have less confidence in it. There are just way too many opportune markets to trade and I also want to focus on some of our favorite stock swing trades. I wish there was just more time to track everything. I would encourage you to practice your own techniques in logging and keeping track of trades and if you are interested or are currently trading the EURJPY with the SST, I would highly encourage you to use the UTA and keep a daily log of the tradeplan trades. There is no better way to learn.
Speaking of stocks and etfs, it was such an amazing week of SST trading that I will soon work on posting some of the trades we were taking in the traderoom. It was hugely profitable!! Hope everyone is having a great weekend. I’m looking forward to tomorrow’s session.