It should come as no surprise that the markets are not the same today as they were a few months ago. Heck!! A few weeks ago, even. Daytrading forex has been a real challenge. Ranges have all but dried up. We used to see 200 or greater pip daily ranges on the EURUSD for example. Now we’re lucky if we get 70 pip ranges.
We can still dart and dodge and with patience and discipline hit our spots. The EURUSD tradeplan we’ve been using for all this time has been holding its own but not getting tons of traction. I would guess that half of its trades are stopping out a breakeven. That’s kept us in the game and we are slowly grinding out new profit levels, consistently. Swingtrading on the other hand, has been much better and the SST has a lot of great swingtrade plans to choose from on the Owner’s Club website that continue to perform.
Our new AUDJPY 5 minute daytrade plan for the SST Pro is also doing very well. In fact, there are lots of new opportunities. As one market slows down, another heats up and the SST gives us the tools we need to be on the right side of the trade, when used correctly.
Many of you know that the Russell eMini was very difficult in March. Since April though, the 377 tick has fought its way back and has been on a 70 point run, breaking out to new profit levels for the year. We saw this happen last year and the year before too. But for those who want a slower tradeplan with bigger objectives, the newly released 625 tick chart tradeplan has been kicking butt. Yesterday it had 4 winning trades for +21.9 points!! This one is really proving itself and continues to deliver double digit gains on a regular basis. The tradeplan is very simple to follow too.
There are others, as well. I’m posting a new daytrade plan for Crude Oil Futures in the next day or two. I just posted an excellent 4 hour chart swingtrade plan for the CADJPY cross, with more to come. In fact, there’s a whole slew of new and effective tradeplans that are coming out.
Market conditions always change. That’s why it is critical to have a philosophy and style of trading that takes that into account and can be flexible enough to take advantage of new opportunities as they present themselves. The Seven Summits Trader is the complete package. We combine the seven keys to successful trading with a powerful set of trader tools that are easy to use, and highly effective. Moreover, the training is easy and thorough. We’ll be showing off some of our new tradeplans in the not too distant future. In the meantime, I’ll continue to share them here, on this site.