The Daily Market Forecast... importance of balance
Wednesday’s Blog Results: Price chopped sideways in a 30-point range with no respect for the volume levels. Both the long and short suggestions stopped out. The Globex did shine once again for Team Members with a great 20-point short (see chart).
Today’s Trading Tip: Team trader or lone wolf?
Which is better? This is one of those worthless debates. Both have their advantages and disadvantages. It boils down to your decision on which has advantages that outweigh disadvantages.
Wall Street may disagree, but I would say do both. Put some balance in your trading life. Devote an hour or two a day to collaborating and trading live with smart and successful traders. It will enhance your knowledge, skills, and ultimate performance.
Here’s just one real world example: Several months ago, a member of our team suggested a trading strategy ruleset he recently learned. The logic sounded fine. We coded the rules and through a combination of back and forward testing found it had some edge. Taking a deeper dive, we analyzed thousands of trade setups and honed that ruleset with some filters that boosted the edge.
Today that evolved version of the strategy is being used successfully by many traders in our room. If not for the team-spirited nature of those who worked on perfecting that strategy, we’d all have missed out on a fabulous outcome.
If you’ve been interested in joining our team but can’t attend the morning Zoom sessions to trade live with the team, here’s how you can benefit and stay a lone wolf:
- Learn our trading strategies online
- Receive two trade plans daily, one for the Globex Session and one for the Day Session.
- Know in advance several great S&P turning points every day.
- Have access to dozens of custom indicators to simplify and enhance your trading.
- Join our WhatsApp off-hours trading team for real-time collaboration.
- Attend the LookBack (5) trade review session every weekend for live coaching.
All at a massive discount. Click here for the details.
Today’s Best S&P Futures Turning Points:
Short Level: Sell 4708.00 stop 4713.75 (5.75 risk).
Long Level: Buy 4633.25 stop 4627.50 (5.75 risk).
Trade Well,
Mike Siewruk
P.S. Join us every Saturday morning @ 10:00 ET for our weekly LookBack (5) trade review session. Every trade for the week is analyzed. Now open to the public. Meet the team. Ask questions. Register here for the December 11th session.