Art in Exits by Trade Aptitude

Yesterday’s results: Buying 5895.50 picked the bottom of the session and ran for 37.50 points before closing the day +25.50. The short idea didn’t trigger. 

Today’s Best S&P Futures Turning Points: Short 5975.50 stop 5981.25. No long suggestion today. 

The World Index: (+100/-100) drops from -14 to -21 with Asia mildly Bullish and the west firmly Bearish. 

Catalysts: Building Permits/Housing Starts @ 8:30. Fed’s Schmid @ 13:10. Ukraine/Russia war escalation. 

Quick Tip: Art in Exits

Dozens of different methods of trading can be profitable. If you doubt this statement you need to read any of Jack Schwager’s “Market Wizards” books. 

In each book he interviews top traders from around the world. Dozens of them. What you’ll find is that almost every trader has a different take on how to trade. Some use technical indicators successfully. Others focus on algorithms. Still others use fundamentals and macroeconomics. Some are systems traders. Others are discretionary. The list of differences between them is long. 

What they ALL have in common is profitability. 

If your belief system has you stuck trading one way because your guru told you it’s the only way then this book series will open your eyes and mind. Enjoy it. 

After reading his book series I began to look at my trade setups with a new view. Who will be on the other side of the trade? While I don’t trade the dozens of strategies I’ve learned (focus is more important) I do think about what other successful traders will be doing when I’m EXITING. The money is won or lost on the exit, not the entry. Managing open profitable trades is as much ART as SCIENCE.

Looking at the chart above you can see the trade went 37.50 points in your favor. It’s doubtful you could have picked that exit and filled. So how much was the trade worth? Where would you have taken profit?  

Our team day-trades multiple strategies with edge. Humans are tribal. We perform better together than alone. Join the team, learn the strategies, and trade live with us daily for 30 days. Money back if you’re not blown away!

Trade fearlessly,

Mike Siewruk