The Daily Market Forecast... glad you disagree!
Thursday’s Blog Results: Neither trade triggered but the buy @ 4534.75 did touch and bounce for 6-points at 3:59 PM ET, too late to enter.
Quick Tip: Glad you disagree!
In Stephen Covey’s bestseller, “The 7 Habits of Highly Effective People”, the 6th habit is Synergize. The concept of synergy is real and born in nature. You’ll need to read the chapter (the whole book would be better) to get all the details and proof. Just assume it’s true for now.
Think about this: If everyone you talked to agreed with you about the subject at hand, would there ever be any improvement to the subject (process, strategy, plan, etc.)? Nope. Case rested. We agree. Move on.
That is precisely why you should embrace disagreement… from a constructive viewpoint. Different opinions and outlooks, when approached properly can lead to dramatic improvements. It’s obvious. No one knows it all. Only by being open-minded and willing to understand a counter viewpoint does the process of synergy start. A healthy dialog afterward will result in improvement.
This is also precisely why Team Trading works so well. Our team consists of dozens of traders who all want the same thing… consistent profitable strategies. These same traders are not always in agreement about HOW to get there. But being open-minded enough to understand each other’s views can lead to improved strategies and trade plans.
Several months ago, a teammate brought the idea of a new strategy to the group. It sounded good and we quickly agreed to perform a research project for proof of concept. We designed the testing procedures and divvied up the workload so no one person was overwhelmed.
Today, that strategy is used and enjoyed by the entire team. We’re not done perfecting it, but that’s understandable as strategies and markets are constantly changing. Our daily focus is “Finding present-time edge” in the markets. We accept the challenge and embrace the change.
If you agree with this philosophy and the idea of trading with a team that is synergistically looking for improvement, we’re looking for new members like you. Get started by clicking here for details.
Today’s Best S&P Futures Turning Points:
Short Level: Sell 4685.50 stop 4690.50 (still good).
Long Level: Buy 4510.00 stop 4506.50 (still good).
Trade well,
Mike Siewruk
P.S. Does your trade plan need a tune-up? Watch the Ultimate Trade Plan mini-course (free). Click here.