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Forex TradingFutures Trading

Trading for a Living Requires a Few Key Things

February 10, 2017 — by Troy Noonan1

Trading for a living doesn't have to be complicated but it does require some basic business practices and acumen.

If you are serious about trading for a living, it’s important to focus on a small list of ‘best practices,’ and running your trading the same as if you were running a business.  In fact, it IS a business.  You need to be the CEO of your trading business.  It’s a concept we talk about all the time in the Counter Punch Trader traderoom.

If I had to name the top ten essential things that are non negotiable, must have items, it would be these things:

  1. Dynamic Strategy that doesn’t try to do too much (identifies high percentage setups)
  2. Choosing the right chart(s) and market(s)
  3. Sufficient capital
  4. Well researched, understood, effective Tradeplan
  5. Proper Money Management
  6. Sufficient skill and ability for proper, near flawless trade execution (practice)
  7. Best trading tools (computer, internet, platform)
  8. Clearly defined goals (consistently take what the market wants to give you)
  9. Sufficient Belief in what you are doing (training)
  10. Discipline and confidence

For me, it’s about staying focused on my modest goals.  My number one goal is to be able to quit with a positive result on “most’ sessions while controlling my drawdowns.  I accomplish this with minimal trading and proper money management.  As my account and equity grows, I increase my position size accordingly.  Trading more is not the answer for growing equity.  I guess I should have put patience on the list as well.  It takes time to grow one’s equity but all businesses need time to grow.  The beauty of this is that we don’t have to trade more to make more.  We just use our money management plan to increase our position size as our account grows and like this, we can hit our financial goals without too much risk exposure or massive time commitment.

You see many examples on this blog showing ‘one and done’ examples.  That’s because we are following the key concepts on the above list; effective tradeplans, goals, etc.  Our plans are taking what the market wants to give us and hitting their goals with the very first trade.  Thus, one and done.  This doesn’t happen everyday and sometimes we have to take a few more trades but always within the rules and context of our plan.  We never have to guess IF and WHEN to take a trade.

YM finished One and Done with this Dynamic Momentum Range Bar Chart; Grabbing + 123 points with two positions

021017_ym

Our Soybean Futures Tradeplan is literally, a One and Done Plan, Win or Lose

021017_s

EURUSD today was a perfect example of taking what the market wants to give us with its One and Done Session, grabbing 12 pips (10 pips after spread costs).  That’s all the market had for us but it was enough to hit our goals.  The other day we had a +100 pips trade.  Steady equity growth, and quitting positive a majority of the time is what achieves our financial goals as traders.  That’s what trading for a living is all about.

021017_eurusd

If you can execute one trade per day, win or lose, and stick to the tradeplan — basically running your trading business the same way each and every morning, your odds for ongoing success would be as high as it can be, putting you in a very advantageous position for ongoing equity growth.  Can you envision yourself running a part time trading business?  That is what trading for a living is all about.

Make sure to register for the upcoming Counter Punch Trader webinar where we will be discussing how to trade for a living and beat the markets on a consistent, ongoing, equity growing track.

www.Netpicks.com

Forex TradingFutures TradingStock & Options Trading

Winning Tradeplans Lead to Winning Traders

February 8, 2017 — by Troy Noonan0

Winning Tradeplans make Winning Traders!

I talk a lot about the power of the tradeplan when it comes to ongoing success as a trader.  Ultimately, we want to be able to treat our trading as a business and be very businesslike with our approach.  To do that, we NEED an effective tradeplan.  What’s more, we also have to BELIEVE in the tradeplan in order to be able to stay with it.  If we can do that, we will experience in increase in the value of our trade accounts.

Today, yet again, this idea proved its merit as we traded our plan to a very profitable outcome on most of our favorite markets.

  • The Russell eMini was one and done, hitting its goals in exactly ONE minute; + 4.3 points with our T2 and Trailer.  All new Equity Highs for the life of the TRADEPLAN
  • Crude Oil Futures; Two and Done this morning and then our bonus session, the Crude Oil Inventory Report was One and Done.  The Inventory Report Tradeplan gave us + .49 (T2 and Trailer); + $490.  CL is one winning session away from hitting all time record profit levels again.  Power of the TRADEPLAN
  • EURUSD was one and done with a remarkable and perfect trade; T1 + 23 pips, T2 + 31 pips, T3 + 39 pips, Trailer + 24 pips

These are just a few examples. The big point of course is that if you are NOT trading with a well tested tradeplan that you have belief and confidence in, chances are you are still struggling with your trading and will continue to struggle until you finally do what is necessary to GET and TRADE a well tested tradeplan that YOU can believe in.  That’s the key to success!

Today’s EURUSD Trade was One and Done

020817_eurusd

Crude Oil Inventory Report gave us a nice One and Done trade, hitting our tradeplan goals with the first trade

020817_cl

TF hit Record Profit Levels today and also was One and Done today, in and out of its first trade of the day within ONE minute.  Imagine telling your friends and family that you had a one minute work day today!

020817_tf

You can Swing Trade with the CPT, too.  Here’s a Daily Chart of AAPL and you can see how CPT is hitting all the best moves, including this last surge up as AAPL tests its all time highs

020817_aapl

Be sure to register for our upcoming CPT Release Event happening this month.

www.Netpicks.com

 

Forex TradingFutures Trading

Russell eMini on Fire — New Record Profit Levels Again

February 3, 2017 — by Troy Noonan0

The Russell eMini put on another show for us this week, winning 8 out of 10 trades and all new equity highs for the life of the traedeplan AND going one and done today for + 2.9 points today (T2 and Trailer).  I was personally finished with my trading in less than 4 minutes.  What’s more, since the Russell eMini cut their point value in half, from $100 to $50 per point, it has been winning at a 72% rate using our 8 tick range bar tradeplan while also winning each session at a whopping 88% rate.  Out of the last 42 sessions (since the revalue of the point value), our plan has won 36, lost 5 (mostly the first week of the change) and had a break even session as well.

No one knows when the fun will end but it’s a ‘brave new world’ we are faced with as traders and the only thing I expect these days is the unexpected.  The Russell eMini has typically struggled for us as traders the first 4 months of the year in recent years but so far this year is the total opposite.  It’s been a great trade and I’ll take a 4 minute session and the ability to hit our goals with the very first trade each and every time.  Remember, we want to keep our eyes on the prize and trade to quit positive a majority of the time, growing our equity on a steady basis while controlling drawdown.  As tempting as it is to keep trading, I constantly remind myself why I’m doing this in the first place, staying professional and letting my position size grow as my equity grows.  That’s what it’s all about.  That’s what making money as a trader looks like.

Today’s One and Done Russell eMini trade

020317_tf

Other Strong Finishers Today:

  • Soybean Futures; this One and Done Tradeplan was 4 out of 5 this week, hitting its full target today and all new equity highs.  T2 and Trailer made + 7.5 points today.
  • Crude Oil Futures; Hit our goals with the first trade today so also one and done.  T2 and Trailer made + .32 today and sitting just below its all time record profit level for life of the tradeplan.  We’re expecting a big year with CL and the CPT.
  • YM has been a more erratic chart for the past few months but it just ran off a strong week, winning all five sessions and is also sitting just below all time equity highs.  Today, T2 and Trailer posted + 33 points, winning 2 out of 3 trades to hit its goals.
  • Other markets were also strong finishers this week with a quick and efficient session;
    • NQ went 2 out of 3 today to hit its goals
    • Heating Oil Futures hit its goals with 2 trades this morning for triple digit gains
    • While I’m not a fan of trading forex on NFP day, EURUSD did go one and done today as well.
    • Gold Futures hit their goals today with 2 trades once the NFP results settled down
    • Euro Currency Futures were one and done today
    • Unleaded Gas Futures like Heating Oil, hit triple digit gains with two trades this morning
  • Swing Trades also Hitting Targets
    • GBPJPY 4 Hr Chart has been a star for the past 6 years, winning at an 88% clip.  The last trade was a winner, gaining over + 200 pips
    • AAPL Daily chart just won the last three in a row — all long trades as I’m sure you can imagine
    • Those seeking a more active swing trade chart would be very happy trading AAPL with a 195 minute chart
    • Many traders are enjoying a slower moving daytrade chart, using 10 minute charts with stock index ETFs like the SPY, QQQ or IWF and flipping weekly options as a daytrade.
    • Others are using the different types of renko bar charts now available in Ninja 8 and Tradestation 9.5 and getting spectacular results.
  • The important thing is to find your style, trade the appropriate chart(s) that’s best for you, and using the effective principals and setups of the Counter Punch Trader to steadily grow your equity and the results of your ‘trading business.’

www.Netpicks.com

 

Forex TradingFutures TradingStock & Options Trading

Trading Goals Hit as Tradeplans Continue to Win Across the Board

January 30, 2017 — by Troy Noonan0

Today was a great start to the week as we hit our trade goals on every chart we trade in the traderoom.  I’ve had a number of requests from ‘non CPT’ traders who have been curious about our live traderoom.  I don’t usually do this but today I thought I would post the entire traderoom session recording here on this blog.  We cover a lot of material like we normally do but you will also see the trades happen live, tradeplans that we’ve been trading without any changes for over two straight years,

Highlights

  • Crude Oil Futures; one and done; + .22 with two positions
  • TF; one and done; + 8.5 points with two positions
  • Soybean futures; one and one; + 12.25 points with two positions
  • YM; two and done; + 62 points with two positions
  • EURUSD; one and done; + 81 pips and still trailing
  • GBPJPY 4 hour swingtrade chart; Over + 200 pips with the current trade that just closed out during today’s session.  See it in the video
  • DAX Futures; one and done; + 63.5 points (Euro Session)

These are just the charts and trades we covered in the traderoom.  There are many other charts and tradeplans one can trade that did very well today; Gold, ES, NQ, etc.

Check out a live Counter Punch Training Session with the above markets

 

013017 LiveSession from NetPicks on Vimeo.

Forex TradingFutures TradingStock & Options Trading

Tradeplans that Consistently WIN are the KEYS to Ongoing Trading Success

January 18, 2017 — by Troy Noonan0

Ongoing success comes from sticking to a disciplined and proven tradeplan.

Our CPT Tradeplans consistently win.  We’ve shown that for over two years.  We haven’t changed much since then, after all, if it ‘ain’t broke — don’t fix it!’

Today was another day where every single chart and tradeplan we follow in the traderoom was a winner and all new equity highs were reached, yet again.   In fact, nearly everything hit its goals on the very first trade except the Russell eMini which hit its goals on the 2nd trade.That’s what making money as a trader is all about, right?  Best of all, there were over 50 CPT members in the traderoom, witnessing, trading and enjoying the success of our strategy.

per, two positions; T2 and Trailer

  • Crude Oil: + .36
  • TF: + 10.4 points
  • YM; + 50 points
  • Soybean Futures; + 8.75 points
  • GBPUSD 5 min chart; + 114 pips (we take 25% off at each of three targets and trail the rest, see below)
  • EURUSD 5 min chart; + 46 pips (same method as GBPUSD)
Today’s GBPUSD Trade, per our tradeplan, was one and done for + 114 pips

011817_gbpusd

A Completely different way to use the CPT is to use this 10 minute chart with the IWM (Russell ETF).  Take one trade per day, win or lose.  Check out yesterday’s trade.  Looks just like any other CPT trade.

011717_iwm

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Forex TradingFutures TradingStock & Options Trading

Trading Profits Soar! Exciting Time to be Trading with the Counter Punch Trader

January 12, 2017 — by Troy Noonan0

Trading profits soaring!  How does 22 in a row sound?  That is, 22 winning sessions in a row with our traderoom tradeplan for the Russell eMini.  Usually this plan is done with the first or second trade.   In fact, since December 8th, the last losing session we had trading the TF (Russell), we’ve hit our profitable trading goals with 3 trades or less — usually less.  The week ending December 8th was the first week that the TF changed its point value from $100 per point to $50 per point so we expected some difficulties as the markets digested the change.  Since then, it has been a parabolic rise in equity growth with 22 winning sessions in a row, including of course, today, with this trade:

Today, the TF was one and done with this trade.  Since the beginning of 2017, the TF is winning at 83.3%, with our 8 tick range bar tradeplan, like we do in the live traderoom.  Perhaps more importantly, it has won 22 sessions in a row dating back to Dec 8th!

011217_tf

It’s not all about the TF, though.  Just about everything is trading magnificently well with the CPT.  The price action is great, whether its going up or down and since CPT is 100% price action based, many tradeplans are enjoying big equity run ups and new record profit levels nearly every day.

Crude Oil Futures has just won its 19th session in a row and if you add to that our ‘6th session of the week,’ our Inventory Report Session, its won 23 sessions in a row.  Today it hit record profit levels again.  In fact, since the beginning of 2017, CL is at a 70% clip, but has a 100% winning session rate.  It hasn’t had a losing session since Dec 15th!

Soybean Futures just won its 5th session in a row and hit record equity high profit levels for the life of its tradeplan, using the 5 tick momentum bar.  Best of all, this tradeplan only requires ONE trade per day.  Talk about efficiency!  While the crowd is struggling with one of the most difficult markets to trade, the ES, Counter Punch Traders are doing it differently, finding the ‘golden eggs’ where most traders don’t know where to look.  Soybeans trades like the ES in that it also is $50 per point and $12.50 per tick.  The difference is, our one and done tradeplan continues to grow equity and is as straight forward as it gets when it comes to growing your equity with minimal effort.

Today’s one and done Soybean Futures trade hit record profit levels again. Today, target 2 grabbed + 4.25 points.

011217_s

These are just a few examples but its NOT just all about futures.  Forex is trading and trading well.  Equity trades are ringing the register, too.  Check out this GBPUSD daytrade, currently still going, that put this market on top today, hitting its profit goals for another winning session:

GBPUSD hit its T1 for + 52 pips and is still going.  We like to take 25% off at each target and let the trailer exit the rest.

011217_gbpusd

Check out this AAPL swingtrade chart.  With the CPT, you can daytrade and swingtrade, futures, forex and stocks.  It doesn’t matter.  It’s all about price action and because of how the CPT is designed, it self tunes to market conditions, bar after bar.

011217_aapl

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Forex TradingFutures TradingStock & Options Trading

Year Ends of a Very High Note — Record Profits, Many Markets and Charts

December 30, 2016 — by Troy Noonan0

Strong gains across the board to end the year

This is a follow up to yesterday’s post.  The Russell eMini ended it’s session, one and done, hitting its goals with its first trade of the day, winning its 15th session in a row and finishing the year with all new record profit levels.  Can’t ask for more than that!

123016_tf

  • Crude Oil Futures win the last 16 of 18 Trades

Crude Oil Futures also ended with another winning session to end the year at new record profit levels.  It was a modest gain on a slow day, hitting two target ones and then stopping out at profit protection levels on the first two trades.  That had us taking what the market wanted to give us and quitting positive for the 12th session in a row, or 15th session in a row when including our extra Crude Oil Inventory Report Session which won again yesterday (see video in prior post).  Target 2 traders were up + 1.46, $1460 per contract and have won 16 of the last 18 trades.  That’s a great way to end the year!

Other Highlights to our last session of the year:

  • EURUSD continues to give us good trades during the US Session, going one and done again today for + 35 pips
  • GBPUSD also was one and done for its final session of the year, hitting all three of its targets and adding even more with a nice running trailer.

EURUSD

123016_eurusd

GBPUSD

123016_gbpusd

  • Soybean Futures ended on a high note today, too.  It was a slow starter but ultimately one its ‘one and done’ trade, winning the last 6 out of 7 sessions to end the year strong.
  • YM gave us a nice winner as well, finishing one and done per its ongoing tradeplan; + 21 points to T2
  • NQ was one and done today to end the year on a strong note as well.
  • Soybeans still going as of this post

123016_s

  • YM

123016_ym

  • NQ

123016_nq

  • AAPL daily chart gave a nice swing trade Christmas dividend as well with this winner to end the year:

123016_aapl

  • GBPJPY 4 hr Swing trade chart wins again, 14 of last 15 trades and record profit levels

123016_gbpjpy

The big message I’d like everyone to take away from these examples is that if you look closely, you’ll notice how ‘the same’ each chart looks.  We are using the same setups on all these charts, trading them the same way, following the same guidance and structure.  Notice how on all these very different markets, we are able to make efficient work of our tradeplans, typically finishing each session quickly and profitably.  Our philosophy is to grow our equity by being able to quit positive on MOST sessions while controlling our drawdowns. We treat our swing trading the same way using the great CPT setups and combining them with tradeplans that tell us when and how to trade each chart.

We are looking forward to a prosperous 2017.

Happy New Year!!

 

 

 

 

Forex TradingFutures Trading

Santa Claus Rally Continues; Crude Oil Inventory Report Another Stellar Session

December 29, 2016 — by Troy Noonan0

Our Crude Oil Inventory Report tradeplan continues to win, win, win, ending this year with yet another win.

Crude Oil has been HOT and our tradeplan is on a 2 week winning streak, hitting record profit levels again. In this video, watch how I handled trading the Crude Oil Inventory Report, which is one of my favorite trades each week, and for good reason. This strategy is winning nearly 75% of the time using this approach.

Also see how the EURUSD did today along with my other favorite market, the Russell eMini. It’s a brave new world we find ourselves in and whether you like it or not, for sure we can expect some great trading in 2017. The CPT is poised to take advantage of the price action and I am predicting a banner year, regardless of whether the markets go up or down.