The Daily Market Forecast... breakeven wins

Yesterday: The suggested long at 4470.50 only bounced 4.75 points before continuing down.  

Quick Tip: Breakeven is a win.

Big win, little win, breakeven, little loser, big loser. All the outcomes of your trades. You don’t allow for big losers so that leaves all acceptable outcomes.

You can turn some of those little losers into breakeven trades. If you move your stop to breakeven after a pre-determined move in your direction (we use 4 S&P points) the outcomes are big win, little win, breakeven. Your drawdowns will be smaller. Your equity curve will be smoother.

What’s the downside? Subsequent price action doesn’t touch your original stop and the trade went on to your profit targets. You missed a winner.

You need confidence in your strategy and rules to succeed. Choose the style that appeals to your personality. Then keep records of every trade setup, taken or not, to find out which is better financially.

Today’s Best S&P Futures Turning Points:

Sell 4537.00 stop 4542.25.

Buy 4409.25 stop 4404.25.  

P.S. If your strategies have proven edge and your results are poor then maybe you need to change your behavior. Click to learn how.