The Daily Market Forecast... Learn to Reframe

Tuesday’s Results: The suggested short stopped out.

Quick Tip: Learn to Reframe

Yesterday’s short trade @ 4133.50 stopped out by one tick! Price then plummeted 25+ points. Instead of a solid payday you paid out. Are you upset? Critical? Sad?

Having a positive attitude about your trading is important. Banish those negative thoughts and blame. Reframe the results of a trade like this one to the positive.

Here’s how: Ask yourself, overall did the short level work out? Did the trade run plenty? Was it a great short entry? Yes, yes, yes.

The fact that you missed the run by a small margin doesn’t negate a well-planned trade. Instead of fostering negative emotions about this result focus on the positive. Learn from the failure. What could you do differently the next time? Widen your stops, reduce size if needed. Or accept “subsequent-touch” entries. In this case it worked well.

That’s how a successful trader turns today’s loser into tomorrow’s winner.

Today’s Best S&P Turning Points:

Sell 4158.00 stop 4163.75 (consider a wider stop at 4164.75 and adjust size if needed).

Buy 4063.75 stop 4058.00.

Trade Fearlessly,

Mike Siewruk

P.S. Are you looking for evidence-based trading filters to improve your edge? Join me this Sunday June 12 @ 5PM ET for a free mini-class “All About Evidence.” You’ll learn several techniques that are high probability and easy to implement. Click here to register. Seats are limited.