Spotlight Power Trader is our newest, most effective trading strategy that can be used in virtually every market.
You read earlier in this trading post about how traders are able to lock down consistent profits day trading Forex with the Spotlight Power Trader. A video was also included that walked through our favorite Forex pairs and charts that showed Spotlight Power Trader in action.
Futures traders can also benefit from the power of our trading system and I made a video that shows you some of our favorite futures charts that we trade live in our trading room.
High Probability Trading Setups
I hope you are noticing how consistent the Spotlight Power Trader identifies trade setups that give us a high percentage winning result. Remember, the goal of the strategy is to be able to quit a vast majority of our sessions with a positive result, while controlling draw-down with minimal and efficient trading.
If you’ve been following this ongoing story line of the Spotlight Power Trader and the Counter Punch Trader , you would be seeing how consistent we are able to achieve these goals.
This is the best kept secret to successfully achieving your financial goals as a trader, while not having to sacrifice hours and hours of time each day. That would be more like having a job.
In my opinion, trading is a way to NOT have to have a job.
Instead, we invest a minimal amount of time each day, quickly achieve our objective and enjoy the type of lifestyle we choose to live. Is that not a big reason to start trading to begin with?
The Market Gives – We Take
In the videos, I explain what our daily goals are. Our goals are dynamic, leaning more on what the market wants to give us from day to day instead of what we want from the market. It allows us to go with the flow and to take advantage of the ever changing market dynamics which of course, we have no control over.
Check out these examples from today’s trading and then compare that to the examples from the prior day as shown in the video.
Today’s Dow eMini (YM) achieved our trade plan goals with the very first trade of the session. ‘The entire trade lasted about 3 minutes from start to finish. For comparison sake, notice the consistency in how quickly goals were reached yesterday as well. You’ll see it in the video.
Like the YM above, the Russell eMini (RTY) was also able to hit its tradeplan goals with the first trade of the session. And like the YM, it too was done quickly. The entire trade lasted 8 minutes which was a bit longer but that’s because of the trailing stop, continuing to lock in more profits as the price continued to drop.
The S & P eMini (ES) hit its trade plan goals today with these two trades.
Why two trades instead of one?
Our trade plan says we have to at least hit a target 2 winner or, two target 1 winners so long as we have a positive result. With today’s ES session, the first trade didn’t quite make it to T2. It was still profitable as one could scale out at each of the 4 targets with this ES chart.
The trailing dynamic profit protective stop locked in some profit as well.
The 2nd trade was able to get to its T1 (trading plan goal achieved when that happened) but also went all the way down to its T2 and T3 for a very profitable finish. Sometimes it’s good to not hit our goals with the first trade as the trading gods often work in mysterious ways.
Even with two trades, this session was over in about 13 minutes.
The Nasdaq eMini (NQ) was able to hit its goals with the first trade of the day and like the RTY, the trailing position was able to catch a nice run for + 31.25 points. At $20 per point that’s $625 per contract just on the trailer.
When trading multiple positions, one could have scaled out at T2, T3 and T4 per the trade plan rules for a very large gain. The entire trade lasted just 8 minutes from start to finish!
This is Spotlight Power Trader
It doesn’t try to catch every move in the market. It waits for its special setups that put the odds on our side. It shines a spotlight on high percentage setups.
- Short trades are colored red, as you can see in the above examples.
- Long trades are colored green.
- When the strategy is flat the bars will be gray.
The 2nd word in the name, Power, is also very important.
We have identified the ’12 powers’ to successful trading and each one is worked into the Spotlight Power Trader strategy. In the video I talk about two of them;
- The power of quitting
- The power of compounding
We also use the power of the trade plan. There are 9 other essential powers all of which are taught in great detail with our training.
I will be covering the other powers here in this Trading Tips blog as well so be sure to check back often.