Rightness by Trade Aptitude

Yesterday’s results: The suggested short didn’t trigger. No long was suggested. 

Today’s Best S&P Futures Turning Points: Buy 5889.75 stop 5885.75. Short 5975.50 stop 5981.25. 

The World Index: (+100/-100) rises from -21 to +29 with most major world markets mildly Bullish on low volatility. 

Catalysts: Fed’s Barr @ 10:00, Cook @ 11:00 & Bowman @ 12:15. Crude Oil Inventories @ 10:30. NVDA earnings after the close. 

Quick Tip: Rightness

We have an innate desire to be right. Being wrong is the equivalent of failure. But in trading this shouldn’t matter. We obviously can’t control the market or perfectly predict the future. The best we can do is decide in advance how much profit or loss we’ll accept. 

The late Mark Douglas, author of Trading in the Zone, said "When you achieve complete acceptance of the uncertainty of each edge and the uniqueness of each moment, your frustration with trading will end. You don’t need to know what is going to happen next in order to make money."

This may sound simple, but do you truly accept this advice? Or does the angst of being wrong when you lose creep into your mindset? 

There is a simple technique I’ve found effective for banishing negative thoughts. When your thoughts drift negative, get in the habit of saying aloud “stop that” and reframe your thoughts to the positive. No habit happens overnight so remind yourself in your morning routine to practice this technique. 

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