A Trading Plan
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Forex Regs
We all knew it was a matter of time before more regulations would befall the retail forex industry. Changes to margin requirements have been finalized.
Check out the video below for a quick overview of what you should be concerned about.
If you missed the live trading
I hope you had the chance to attend the LIVE trading event featuring the highly anticipated SST! Netpicks decided to put their upcoming strategy “to the test” in live markets in front of hundreds of people Aug 19/20. Even though markets have been sort of slogging (believe me, I daytrade FX), the SST (Seven Summits Trader) did very well in the markets that were covered.
Here is the official line on the SST:
Designed around the concept of scaling the highest and hardest mountain peaks on each of the seven continents—a feat not unlike successful trading—the Seven Summits Trader will arm a trader with the right tools to master the seven keys to trading success, which are:
1. Multiple Markets, Multiple Timeframes
2. Dynamic Entries, Targets and Stops
3. Scale and Trail
4. Exact Trade Plans
5. Capital Preservation
6. Total Immersion Training
7. Consistent Profits
The SST takes full advantage of high-percentage fixed targets while also providing an opportunity to soar with a dynamic “trailing stop strategy.” And as new opportunities present themselves, the SST allows for traders to scale in and add positions.
Sounds good to me. There is no way I could do justice to this strategy in this little post. Instead, stop by the FREE WEBINAR this Wednesday August 25 @ 12:00 and/or 6 p.m. EDT to learn the in’s and out’s of the SST. There will be some outstanding deals for those that want to “jump in” and start being successful in their trading.
Seven Summits Trader
I hope you have had a chance to poke around the “DPG” software that I mentioned in my last blog post. If not, you can still grab a copy of it by clicking here:
http://www.atradingplan.com/dpg
Anyhow, this past thursday, I had a chance to sit down with the developer of the full sized version of the DPG called the Seven Summits Trader. I like to think of it as the HVMM on steroids! Nothing wrong with the HVMM at all…it is what I trade. I do plan on putting the SST through the paces though.
The SST has a “built in” feature that I love (you’ve seen me do it in some videos)….the trailing stop. There is no better way to add more cash to the bottom line than trading the trend “until it bends”.
What else? How about having the ability to decrease your risk AND add more to the position…called scaling in? Sounds great, right? Top that off with an “entry edge” and you have the makings of a solid trading strategy!
Now, you may get a lot of “hype” style emails. I don’t like them and neither do you, well, you shouldn’t anyhow. Believe me, there is nothing “revolutionary”, “top secret” or any other buzzwords in the field of trading.
You want to arm yourself with a strategy that will give you:
1. an entry with an edge
2. exits when the trade doesn’t progress
3. ways to partake in the extended trend move
4. ways to add more positions at the right time
That is what the pro’s do over and over again.
Anyhow, see it for yourself. Here are two links for a live demo (no, not a pitch) to watch the SST traded live:
Live Demo on Thursday, August 19th:
http://www.atradingplan.com/sstthursday
Live Demo on Friday, August 20th:
http://www.atradingplan.com/sstfriday
Hope you take an hour to check out the live trading event!
Check out the last 60 days for the GBPUSD currency pair with the SST.
http://www.atradingplan.com/sst60
