It’s been quite a week so far for GBP/USD and Cable Glider. We entered long this past Monday morning at 08:30 GMT, and the GBP/USD has been in a nice uptrend ever since. Cable Glider, being a trend following system, is being a good kid and following the trend. The stop is currently 111 pips above the open price. This trade is still open, but it will result in a gain that is large enough to trigger my rule to extract profits from the trading account and move them to the living expense account. This makes two such trades this month, so I guess I’m getting ahead!
Cable Glider II (current system) will reach a new equity peak at the close of this trade.
Cable Glider I (original system) may or may not reach a new equity peak at the close of this trade. If it were to close this second, that system would still be in a roughly 5% drawdown.
As I documented previously, my real trading performance in May was much worse than the Cable Glider’s results. This fact, coupled with my decision to implement the living expense buffer, has slowed my equity’s recovery, so I am still in a drawdown (somewhere in the neighborhood of 25%…ouch!), but things are looking up and I’m re-gaining confidence in the system.
I’m sure that I’ve barely scratched the surface in this area, but it strikes me just how much quality free trading content is available via live seminars and webinars. Now clearly, almost without exception, these freebies are given in the hopes that the participants will sign up for some paid content later, but that’s no reason to discount the value of the free stuff!
Here are a few upcoming events:
NinjaTrader Partner Presentations — if you download a copy of NinjaTrader (the evaluation version is free) and get on their email list, they will send notices of weekly webinars. While some of these are geared toward learning the NinjaTrader platform, others are not. A great example of a quality webinar for discretionary traders was last week’s presentation given by Talking Traders on trading psychology. A link to the webinar content is currently on their homepage.
FXCM Expos — There is a live expo event coming up in Dallas on July 14th and 15th. They did one in New York a couple of months ago, and there’s another one coming up in September in Los Angeles. All of the content on the first day of the expo is free.
The Money Show – There is a trading expo in San Diego that runs from this Thursday through Saturday, and there are boatloads of free webinars.
If there are other quality sites out there that you know of, please send me an email.
Remember, one great new idea properly implemented into our trading systems can be worth thousands!