I know you probably see some of these types of trades on trading blogs but here is the difference:
All the ones I post about happen in our live trading room in front of the members.
The trading sessions are also recorded so you can see these trades play out in real time. Netpicks is the real deal when it comes to trading systems and education—we walk the talk, live!
Live Trading Russell E-Mini
The first trade I want to talk about was in the Russell which is a market that I wrote about in a blog post asking if the Russell E-Mini was a waste of time.
It took two trades to hit the Power of Quitting goals I have set for my trading and here is how it all played out.
- Yes I am actually showing the first trade was a loser and it keeps me trading until I hit my goal
- You will see a trade setting up on the chart here but our trading plan has us standing down in the face of a news release
- This is the final profit target on my trade and if you follow the price upwards, you will see the green arrow that shows the entry
All entries, exits, and even trailing stops print right on the chart so you are never caught “frozen” when faced with taking action. Believe me, seeing the plots right on the chart makes trading a little easier.
Another Crude Oil Trade – One Minute Trading
Like clockwork (and following our trading business plan) we trade the crude oil inventory release that occurs on Wednesdays. Our Power of Quitting goal is “1 and done” and you will see in this next chart that our goals were met quite quickly (one minute trade).
I hope you are noticing how having the relevant price points actually plotted on the screen simplifies much of what he have to do. Your job when being a trader of one of our trading systems is to:
- Follow the trade plans the come with each of our trading strategies
- Be fully educated in the benefits of risk management
- Gain control of the emotions that can kill your trading career
As time goes on, many traders learn to make our systems “their own” and tweak some parts of the trade plan to suit their own “individualism” and personal needs.
Breaking down this crude oil trade:
- This is our entry candle and you enter X amount of contracts depending on your risk tolerance and account size
- We scaled out at this point for .12 which leaves a “runner” for the trailing stop price
- Stopped out on the final position using a trailing stop for .16
If you were trading one contract, you just made $280 gross for one minute of work. A profitable (and very short) trading session giving you more time during the day to do what truly matters.
Trading Is Not All Roses
As you can see in the first chart, even with a high quality trading system you will have losing trades. You should expect them especially if you’ve done your back testing and understand the expectancy of the system you are using.
The ability to withstand losses and keep coming back to trade is something we talk about a lot in our trade room. We look at it as a two steps forward (winning trades) and one step backwards (losing trade) and knowing that and using a proven trading system and plan allows all our traders the opportunity to find success.
We want to help you on your path to trading freedom.