Backpack Trader | Options Trading Archives

Recently I received an email from an old member trying to make heads or tails out of the many strategies I have created out of the years. In short, he owns some of the below strategies, doesn’t really quite know what he has, and is not wondering what the differences are. Incidentally, I hope he soon learns what he does have because he has a collection of very powerful trading tools and strategies. Time to deploy them!

Here are our two email exchanges. I figured it would be easiest just to present both emails as they were; his inquiry and my response:

I have a quick question. I am now super-confused on the various tools available to me – specifically, which is best for which type of trading / market. At this point, I own CPT and SPT through NetPicks and I recently purchased CPX2 through BackpackTrader (for which I somehow missed that it’s not available for ToS) and then there is also Catapult. Any chance you have a “cheat sheet” comparing the various solutions or providing some guidance?

Sorry for the confusion! Not sure if you’re aware, but I left Netpicks and spun off my own business back in 2018. I did so with their blessings. After 15 years it was finally my time to do so. They asked me to put the name Netpicks into my new company name, which I did, Netpicks Trading LLC, which is NOT Netpicks. That was because I agreed to continue to service all those who bought one of my strategies. I now run my own business though and to avoid confusion, I now focus on my brand, www.BackpackTrader.com.

You have some great strategies. CPX2 is a streamlined version of CPT. SPT evolved out of CPT. It borrows some concepts but requires a completely different set of circumstances to create trades. It was designed to be easier, with fewer moving parts while also being more effective, which it is in many respects. That being said, CPT (CPX) is also still excellent and in fact, I think it is better for forex swing trading. SPT is great but the trades are far less frequent than CPT for swing trading. That’s not necessarily bad; it’s a quality vs quantity type of difference. Both are good for different reasons. Here is an example of one of my favorite swing trade plans with CPT/CPX2. I use this with my Spotlight FX Alerts service, which primarily (and Ironically) uses Counter Punch.

The SPT evolved into the Spotlight Master Suite (SMS) which included more ways to use SPT, including SubZero and my ‘Fun with Moving Averages’ strategy which I have never presented to the public. Not yet, anyway. The Fun with Moving Averages approach provided 6 new trading setups integrated into the SPT Diamond Level calculator. Spotlight Power Trader was given that name for a reason. It shines a ‘spotlight’ on the best trades, green for long, red for short, gray for flat. Power refers to the 12 Powers covered in my Ebook and more thoroughly, in my Day Trading QuickStart Guide, a #1 best selling book on Amazon. Trader refers to you of course, the trader. The Spotlight Master Suite is the grand suite of Spotlight strategies; Spotlight Power Trader, SubZero and the Diamond Level Spotlight Master Suite Calculator which includes the Fun with Moving Averages setups and filters. It can do SO much. Here is an example of one of my favorite forex day trading plans with SPT/SMS.

Learn more about Spotlight Power Trader and Master Suite Here

Catapult Trader is a modular strategy designed to be my very simplest approach yet. I presented it as a bootcamp. One would buy the bootcamp, attend the training and get the indicators free for attending. it is based on the concept; One market, one chart, one setup, that you can practice over and over again until you are real good at it, and then use it for a lifetime. As a modular system, each module only works for its symbol. I have ES, YM and NQ so far. Not sure what will come next. They also work with their micro versions. This is very appealing to a lot of people because it uncomplicates so much. Where as CPT/CPX and SMS are completely universal, Catapult is singular, making it super simple. Adding to its simplicity, I included Spotlight Technology with Catapult; green for longs, red for shorts, gray for flat. Learn more about Catapult Trader here.

I’m always creating stuff. I have people that completely love each of these strategies all for different reasons. What type of trading do you like to do? I can make some suggestions for you.

I hope this email helps. Feel free to follow up with me anytime. I’m happy to help you with your trading.