My First Month with the StrikeTrader Software

My first month with the StrikerTrader software was highly profitable.

 

My account ended up with over 500 pips or a +9.7% profit for the month of September.

 

I had some great trades with StrikeTrader:

  1. Wins that closed for 100+ pips.
  2. Wins that closed within 2 hours.

Of course I also had some losses that knocked my equity curve back down again. But let’s face it; most Forex traders would be very happy with similar figures! It certainly beats average stock returns, stashing money under the mattress or placing it in a deposit account on the bank. Here is a screenshot with more statistics and details:

 

2- 10- 2014 myfx

 

Before I dive into the specifics of the trades and strategy that yielded my best month of the year, I want to give you a quick foundation where I was at as a trader before my first month with StrikeTrader. The previous strategy I was using in the trading room was called DTT and although profits were made at the start, eventually the drawdown ate up the profits and the account went back down to 0 (bah!).

 

As you might know, I have a decent amount of experience “under my belt” (see daily posts on our blog) but even then making consistent profits is tough work; let alone making a big profit in any month. Certainly in the first half of 2014 I have not yet made the gains I wanted to see this year. But I was encouraged by the fact that Winner’s Edge was soon going to release the new StrikeTrader tool (although I had not traded it myself).

 

I myself started trading the Winner’s Edge Trading StrikeTrader software at the end of August (21st) and it has been an absolute joy to trade. The software makes my trading simple to analyze and simple to implement.

 

The StrikeTrader software and strategy explains to me in a very understandable way:

  1. When to enter (trigger candles)
  2. How to get discounts with entries
  3. Where the stop loss zone is
  4. Where the take profit zone is
  5. How to focus on higher win % (if you prefer this)
  6. How to focus on better reward to risk ratio (if you prefer this)

2- 10- 2014 myfx 2

The above points are what really matters for the bottom line. Remember, the cornerstone of success is: find an edge, make the plan simple to trade, and then trade the plan. Many Forex educators do speak about plan the trade and trade the plan, but

 

the StrikeTrader software takes that philosophy to the next level.

 

Simply put, profits are generated by exiting at a better price than the entry, but too often traders get side-tracked by their own emotions and inconsistencies. Solution: traders need to implement an iron clad trading plan and the StrikeTrader offers that and more.

 

Let me give you an example how a trade looks like with a clear cut plan. My biggest win was on the EURNZD: +137 pips. It was a great trade because it was one of those trades that immediately went in my favor: no retracements or looking back. This is what it looked like:

 

2- 10- 2014 EN

 

The trend, the trigger, the entry, the stop loss placement, take profit and trade management were all crytal clear and left to no doubt. The trading plan is simple to follow and understand – all I needed to do was follow the plan and let emotions get in the way. That is one the great advantage of the StrikeTrader.

 

Another great part about the Strike setups is that opportunities just keep coming and a basket of opportunities and open trades were always present, which ‘distracted’ me from any mental annoyance I sometimes have with draw downs. That instantly solved one of the problems of earlier this year.

 

By keeping in the flow of trading, I won multiple trades in a row and bounced back quickly.

 

The Strike removes the need for analysis, second guessing or over analyzing. No need for chasing the market or jumping in too late either…. And by removing all these layers of useless stuff, you know what the biggest advantage is for my trading?

 

I am able to fully focus on consistency and discipline when using the StrikeTrader.

 

I know my edge, I know the rules, and I know my plan. Nothing else matters. Simplicity, at its finest.

 

Here, take a look at how simple the design of the strategy template looks like. Notice how I can take an instant market order with the left upper buttons and then exactly know where the stop loss and take profit zones are with the right upper corner. Notice how simple the trigger candles are (green or red candle), and how easy it is to see the trend (bottom indicator – green is up/red is down/grey is neutral).

 

2- 10- 2014 plat

 

Trading is about trust. Of course when I started out trading the StrikeTrader I had to get used to the rules and template (exploring and understanding phase) and my level of trust was still at “neutral”. As I started to learn the strategy better, the understanding of how powerful the simplicity of the StrikeTrader is really started to sink in. As I started to rebound from dips quickly, the level of trust gradually increased as the strategy confirmed its high win percentage. The full appreciation came when I realized that the StrikeTrader provides for a well balanced strategy with plenty of opportunities, simple rules, but also flexibility. It might sound funny but in essence due to StrikeTrader:

 

I am able to fully focus on trading as traders should without being ‘blocked’ by (too much) analysis.

 

In my opinion the biggest assets and advantages of StrikeTrader are:

  1. Simple rules, simple template, and simple strategy allow me to focus on implementation
  2. Many trade setups and opportunities throughout the trading week
  3. The low maintenance means not much time is required to trade it actively
  4. High win percentage of winning trades allows me to make pips on most days and keep draw downs low
  5. The money management rules ensure that I can survive the choppiness of the market and that my trade does not get exited prematurely due to a too tight stop loss
  6. The set and forget trade management reduces the time needed for follow up after entry
  7. The flexibility of the intra-day trend keeps my trades focused on current trades
  8. The flexibility to focus on higher win percentage or higher reward to risk ratio (adjustable to suit everyone’s own psychology)
  9. If desired by traders, there is flexibility within the rules to adjust entries, exits and stop losses (allows the plan to match a trader’s psychology)

 

Despite the advantages I see in the software, not all traders are going to enjoy it as much as I am. And that is ok. Trading can be done in millions of ways… But I am having FUN trading the StrikeTrader, which is key.

 

Will all trades turn into profits? NO. Will all months be the same? NO. Some months will be worse, some better. In fact, this month I missed a couple of big wins and missed a couple of take profits by 1-2 pips so the 9.7% win is certainly not the maximum result possible. I know traders that had results well into the double digits… Trading has a ton of variances, and that will always stay the same.

How has your trading been in September?

 

Happy Trading!

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  • Chris

    Hello Sodhi, thank you for the comment! Appreciated. Glad to hear it and wish you lots of good trading with the strike trader!!

  • Sodhi

    The accuracy level is really phenomenal. I mostly don’t
    prefer using any software’s as they are fake or scam, but since it is
    recommended by this amazing site, it has become a must try. I am fortunate to
    have a broker like OctaFX which allows me to use anything with complete freedom
    of scalping, hedging, news trading and EAs. I will definitely try this out in
    future and will update the results here and hopefully just like i am doing
    great with my broker there will be the same.