Trade Aptitude

Today’s Best S&P Futures Turning Points: This strategy remains on hold but is improving.

The World Index: (+100/-100) jumps from -7 to +29 with most major world markets mildly Bullish. 

Catalysts: GDP, Jobless Claims, Trade Balance @ 8:30. Pending Home Sales @ 10:00. Fed’s Bostic @15:30. 

Welcome back to Poker Week! If you didn’t read the last three blog posts now is a great time to do so. All week we’re exploring poker lessons that are also invaluable for traders. Enjoy!

Lesson #3: Three “Ps”

If you played poker once a month and your opponents played every day, who is more likely to win? The same applies to golf, tennis, chess, and trading. 

While we don’t have a single opponent in trading we do have someone on the other side of our trade betting we’re wrong. Might they be a better trader? 

Practice, practice, practice. The key to excelling at anything you do is repetition. And if you want to turbocharge your practice, approach it with the intent of teaching it. 

Here’s some trading practice ideas:  

Stay in touch with the markets you trade in every day. Review what happened. Study patterns. Document your strategy results whether you took the trade or not. Create an equity curve and study it. Trade in simulation mode for a few hours each week. 

The more time you devote to practice the better your trading results.

Our trading teams focus on day trading futures and swing trading options. Maybe you'll fit right in. You can try either or both risk-free. 

Trade Fearlessly,

Mike Siewruk

P.S.  Feel free to pass this along to your trading buddies. Share in the wealth!