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
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.’