Trade Aptitude

Results of Wednesday’s Best S&P Futures Turning Points: Neither suggested trade level triggered. 

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

Buy 4499.00 stop 4495.50. Short 4598.50 stop 4604.25

The World Index: (+100/-100) dips from Zero to -7 in a world of mixed sentiment and low-volatility. 

Catalysts: PCE Price Index, Personal Income/Spending & Jobless Claims @ 8:30. Chicago PMI @ 9:45. 

Quick Tip: One Tough Lesson

If you’re a discretionary trader intuitively making entry and exit decisions and you’re successful, congratulations! You are a rare breed. It’s not that discretionary trading doesn’t work, it’s that to succeed takes years to hone the skills. 

This leaves rule-based trading the best alternative for developing trading skills and success for the vast majority. It seems so simple. Find a proven strategy with edge. Follow the rules. What can go wrong? 

Here’s the tough lesson you need to learn: You think you know what’s going to happen, but you really don’t. 

You remember prior trades that were winners and losers in certain market conditions, and you violate the rules of a perfectly good trade plan because you think you know what’s going to happen. 

This is a natural human phenomenon. But it usually ruins your results. I don’t recall the author, but I clearly remember the quote: “The hardest trades to take usually turn out to be the best.” 

Thinking we know what’s going to happen is dangerous. It stems from our need to be “right.” 

We shouldn’t care about the outcome. Win or lose, no worries. Trading success is never the result of a single trade. It’s the entire series of trades over time and in varying market conditions. This means we should focus on trade execution and risk management, not outcome. 

Of course, you need strategies with edge. Not caring about the outcome and following losing rules will blow up your trading account. Fast. 

Our team day-trades multiple strategies tuned for varying market conditions.  Join our team, learn the strategies, and trade live with us daily for 30 days. Money back if you’re not blown away!

Trade Fearlessly,

Mike Siewruk