Today, during our live demo, we looked at a bunch of charts and markets. We called and tracked some live trades as they were happening. Let’s take a closer look at exactly what happened.
First up, the Russell eMini. This one gave us setups right out of the gate, as it so often does. We called every one of them too, until we hit our ‘Power of Quitting’ goals. Remember, the power of quitting is a dynamic goal setting strategy that allows us to take what the market will give us, while also allowing us to quit with positive results on most sessions, as we steadily grow our accounts over time. Little by little, as your account grows, you are able to take more and more advantage with our Seven Summits approach, scaling in additional positions at the opportune moments, trailing for the larger gains, etc. It takes patience and hopefully by now, if you’ve been following along, you understand that it’s all part of the bigger picture ‘game plan.’ Today’s session was no different as far as the pure trades go and as far as our POQ strategy goes. While we ended up with just a modest gain today, we stuck to our plan, which worked perfectly and as a result, we took what the market would give us and quit with our dynamically adjusted goals in hand.
That’s not to say there are not other quitting strategies. There are. But we’ve been sticking with the strategy that we feel most comfortable with and our results are undeniably excellent. We are sitting just a few points below our all time equity highs. Today we picked up a modest 3 ticks, mainly because I made a rare 3 tick adjustment early in the session to get around a swing level. The trade triggered in anyway. I don’t like to make those adjustments but sometimes you have to pay a little bit of insurance. Also, we missed one full target by just 1 tick and we missed another full target by just 2 ticks. We also had to stand down thru news. That’s how the cookie crumbles sometimes. The SST is often very accurate and we missed our full T by a hair, twice today.
Yesterday though, we were able to gain +4.5. Each session will be different so we want to be able to ‘go with the flow’ and take what the market will give us. That approach has resulted in over +276 points since mid April, and that is NOT increasing our position size with simple money management like a ‘fixed fractional’ approach, for example. That result is from just trading the basic SST strategy without increasing position size as our account grows. You could look a few posts lower to see a comparison of the very same trades WITH money management. What a difference! (Check it out here)
Even so, SST has won 17 out of 19 weeks and as we are up +13.4 points on this week so far, it appears we are headed to an 18th winning week, out of 20! Here’s a closer look at this morning’s Russell eMini trades called live this morning.
I’ll post up some additional trades and charts we followed this morning a bit later on today. Check back soon.