Covered in this month’s newsletter:
- Market Video Update
- MetaStock 15 has been released
- What is a GSLO and why you would use it
- Mortgage Busters & Investment TV Show Interviews
A lot has been happening in the stock market with the US Presidential Elections. Its during these uncertain times that we see increased volatility. I also had the opportunity to see first-hand all the build-up to this throughout my travel in the USA in September and October.
So read on as I’ve got alot to share in this month’s market update and a video to show you how I handled the recent market volatility and more.
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| Market Video Update |
In a period of uncertainty like the US elections, it is not an easy time to be trading. The market can go one way or another. It could be chaotic or stable depending on a certain outcome. Let’s examine the charts and see how the markets handled this volatile time and what action I also took in my trading.
It can be confusing to know how to handle your trading during volatile times. For me, I simply trade my systems, stick to my rules and during uncertain times, like the recent US elections, I employ GSLOs with my daily trading system.
If you would like to discover more about my trading strategies and techniques, click here to find out more about my Ultimate Smart Trading Mentor Course . In this course I share exactly how I trade the markets. I provide the codes to my market scans and all my strategies for entries, exits and money management. Plus you will learn all about my trading routine and the extra charts I look at to form a view of the current market action and plenty more.
Plus, when you purchase the Smart Trading Mentor Course you also receive one years membership to my exclusive Smart Traders Mastermind Program. In this program you can connect with a community of traders that have all been through the course and I continue to support my clients ongoing with detailed half an hour monthly market update videos, several webinars throughout the year and a private discussion forum.
If you are ready to get inside the head of a professional trader and learn all their techniques and strategies, this is the course for you.
| MetaStock 15 has been released |
With the release of MetaStock 15, Craig at Oracle Traders and I have been testing the new version to see it if it’s up to par, considering versions 12-14 were not. One of the main issues with versions 12 to 14 was that it was locked to Thomas Reuters data and could only be used in online mode. It could not be used offline with local data like Versions 11 and lower. For use in Australia these versions were very slow to use.
There have been a lot of complaints about this and people, including myself, wanted the local data option brought back. The good news is that the new version 15 now allows for local data use again and there have been some good improvements compared to versions 12 to 14.
However, as with any new software, there have been some teething problems and there are some bugs that still need fixing before I can recommend any of my clients consider upgrading. Many of the bugs are related to how the new local data option works. Craig is working with MetaStock to get these resolved over the coming months.
So right now Version 15 is still a work in progress and Version 11 is still the better alternative. However, if you are on version 12 to 14, then version 15 is a better alternative and will be worth upgrading.
Unfortunately anyone using versions 10.1 and lower will need to consider upgrading at some stage, as these earlier versions are no longer being supported and if you need to reload it on a new computer you will not be able to.
For those that want to upgrade and cannot wait, Craig has put together a special pricing model for my clients based on the version of Metastock you are upgrading from. You can find out more from this link: http://smarttrading.com.au/metastock-15/
I will continue to keep you updated on MetaStock 15 as it improves. But at this stage I am not recommending any of my clients jump in and upgrade yet.
| What is a GSLO and why you would use it |
As mentioned in the video update, I have been using GSLOs on my CFD trades over the past few weeks. A GSLO is a guaranteed stop loss order that guarantees to exit a trade at the price you set. It protects against slippage and gapping. Unique offerings like GSLOs is one of the important features I consider when choosing a CFD provider.
There’s a fee to use GSLOs and they usually have to be set 5% away from the current share price. The fee is a small price to pay for peace of mind and to protect your trades. The good news is my CFD Provider, TD365, updated their GSLOs to make them even better.
You can add GSLOs to your trades without any upfront premium. This functionality might even be completely free of charge because you’ll only pay a fee when your guaranteed stop is triggered. So if you exit prior to the GSLO being hit there is no charge.
To find out more about TD365 and to open an account visit this web link: http://tradedirect365.com.au.
Make sure you enter “Smart Trading” in the “How did you hear about us?” box so that you get access to these special offerings I negotiate from time to time.
If you want to trade CFDs but don’t know which provider to choose you can read more on my CFDs webpage.
| Mortgage Busters & Investment TV Show Interviews |
If you missed my TV show interviews you can still watch the two-part series from the link below:
Mortgage Busters & Investment TV Show Interviews
In the first show interview I talked about my journey into share and property investing and the challenges along the way, which then helped me to develop and hone my trading systems and money management rules so I am able to trade all market conditions that come my way and thrive to become the trader I am today.
In the second interview I delved deeper into charting and why I love charting. I covered how you can tell if a share is healthy, the four market stages shares move through and how this assists me with my trading decisions.
| Finally |
There will always be events like the recent elections that can cause extreme volatility and panic in the market. The important thing is how you handle it when it occurs. Learn from the experience and take note on what you will do differently next time.
Cheerio
Justine Pollard
Author, Private Trader & Trading Mentor
‘Discover the Smarter way to trade’
www.smarttrading.com.au
justine@smarttrading.com.au
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