Seven Summits Trader works with MT4. While we typically do most of our studies and trading with Tradestation’s charting platform, MT4 will work great with SST too. Especially with the special NetPicks Range Bar Plug-In. Our engineers are still in the lab with the MT4 programming but it will be ready soon. In the meantime, here is a chart looking at one of our favorite forex pairs, the GBPUSD using a .0017 range bar time frame. The results we are getting are simply amazing. This time frame works great for the Euro time zone, 2am to 5am EST. We’ll be posting up some US time zone charts shortly.
Using the .0017 range bar, the cable has reach $2,404.00 in net profit, using our two position approach, 1 full lot each. Boasting a very strong 2.76 profit factor over the past few sessions. Looking back even further, over the past 110 trades (60 days), it has produced 82 wins which is a staggering $11,255 in profits. Profit factor was a very strong 1.73, meaning for every dollar lost, it won $1.73. It’s maximum winning streak was 15 winners! This is typical SST trading with the GBPUSD. What’s more, this is a range bar chart so MT4 traders can be rest assured, we have you very much in mind!
Finally, this screen shot will show an exciting new feature, the NetPicks Trailing Stop Indicator. We love this indicator with the GBPUSD because we can set it to kick in just at the right time to take advantage of spike moves we often see in this market. The ability to scale in and out of positions, going after high percentage targets and leaving a position on to trail for the big trade represents one of the important Seven Summits to Trading Success and it is built right into the powerful custom SST tool set.
This chart shows the last two days of trading. We didn’t really have a lot of range to show off this indicator’s prowess, but believe me, it will present itself at the right time. Nonetheless, we managed to win 3 trades and pick up about +115 pips to add to our tally.