Trade Aptitude

Results of Thursday’s Best S&P Futures Turning Points: Neither trade triggered, both levels remain on the chart. 

Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets): 

Buy 4885.00 stop 4881.50. Short 4867.00 stop 4871.25 if price falls below and retraces back. 

The World Index: (+100/-100) dips from +13 to +6 with sentiment widely mixed worldwide.

Catalysts: Core PCE Price Index, Personal Income/Spending @ 8:30. Pending Home Sales @ 10:00. More China stimulus didn’t work last night. 

Quick Tip: Darwin the Trader

Traders can learn from so many great sources that have nothing to do with trading! If you think about it, trading is more psychological than mathematical. That means your ability to improve your results rests more on improving your behavior than your strategy rules. 

Here’s a great example: Charles Darwin said, “It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.”

So true in life and in trading. 

Reading this quote, agreeing to it, and then doing nothing to systematically apply this truth to your trading would be a shame. 

My friend and colleague Dr. Woody Johnson, author of Secrets of the Peak Performance Trader, encouraged me years ago to start a “thought journal.” Rather than simply documenting trade results and associated data, you document your thoughts, emotions, and reactions. 

In so doing, you’ll have created a system that allows you to monitor your behavior and start to make changes. Darwin would be proud. 

If you want an e-book version of Dr. Woody’s classic, send me an email at . [email protected] Our New Year’s gift to you. 

Tired of trading alone? Our team day-trades multiple strategies with edge in a live online environment. Join us, learn the strategies, and trade live with us daily for 30 days. Money back if you’re not blown away!

Trade Fearlessly,

Mike Siewruk

P.S. Forward this blog to your trading buddies. Share in the wealth!