The Russell eMini futures market is not the only chart and market we follow and trade each day, but it is one of the very first pioneering tradeplans that led to the development of the SST, and to this day, it continues to keep on keeping on. Like we saw last year, the first few months had our equity curve moving along sideways. The tried and true tradeplan will ultimately find its vindication and pay off for the patient, disciplined trader and we are seeing that virtue play itself out again. Today we picked up +4.3 points and all new record profit levels with the Russell eMini and the story continues to play itself out, again and again.
We had to be very patient. It takes a lot of vision and understanding of what we are trying to do, to be able to stay with the plan day in and day out. We seek to get to a risk free position as quickly as possible and sometimes, we get bumped out of trades that needed a bit more room to develop. On the other hand, we are happy when we get out with no loss on a break even trade only to see the trade decline to bigger losses. Both those situations happened today on the TF. Remember, there is NO perfect solution. All we can do is put the odds in our favor and stay with the winning tradeplan. We did.
The first trade got bumped out too soon. The 2nd trade got us out in the knick of time. The 3rd trade cancelled, unfortunately, and then reappeared two bars later. The first cancelled trade would have hit the full target and had us quitting with our goals in hand. The trade that reappeared and ticked in, only got us a 1 tick gain again, but also again, it got us out in the knick of time. Finally, the 4th trade had enough umph in its gas tank and did what we needed. It went to its full target and gave us our Power of Quitting goals and all new profit levels since last April 5th 2010.
See Chart with the Above Russell eMini Trades Indicated; out of the last 34 trades, there have only been 6 losses, and this week, it has lost only 2 of 14 trades.
Our Crude Oil Futures trades were incredible too. The first trade of the day delivered a massive grand slam, 1.82 points in profit for a dream trade result of $1,820. 27 minutes of trading. Many took the one and done and decided to make their way to the golf course, beach, ski slopes… depending on where they were in the world. Awesome!
There have been a lot of other great trades on many different markets; forex, stocks, futures and options. I’ll be posting more as time allows so check back in shortly.
Meanwhile, make sure you are signed up for the live demo coming up this Tuesday.