The Daily Market Forecast
Monday’s Results: The suggested short at 4292.50 only offered 4.75 points.
Quick Tip: How Many?
Every trader evolves their style over time. I recall one excellent trader I worked with who only traded ONE asset. He claimed the focus on one stock gave him considerable edge understanding how the market makers manipulated price. It worked for him. Fair enough.
Most traders wouldn’t think of limiting themselves to one asset. Not enough opportunity! Too much patience required when volatility dries up.
Then again, following too many assets is difficult and possibly detrimental.
If you’re reviewing and documenting your trade results you will quickly find out how many you should be following and trading.
The futures market offers many contracts to choose from, but they don’t all trade the same way. There are differences based on seasonality, time of day, etc.
Invest the time in researching the assets you’re interested in and combine a few (or several) that are complementary.
Today’s Best S&P Turning Points (in fast moving markets consider a wider stop and less size):
Sell 4334.75 stop 4340.00.
Buy 4272.00 stop 4268.00.
Trade Fearlessly,
Mike Siewruk
P.S. Multiple strategies, software tools, teammates, and coaching. Learn why you should join our team here. For a personal consultation to assess fit (without selling) email me: mike@thedailymarketforecast.