Trade Aptitude
Results of Tuesday’s Best S&P Futures Turning Points: Neither trade triggered.
Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets):
Buy 4521.00 stop 4517.00. Short 4628.50 stop 4632.75.
The World Index: (+100/-100) SOARS from -43 to +57 with all major world markets Bullish. Risk on.
Catalysts: ADP Non-Farm Employment Change @ 8:15. Revised Non-Farm Productivity & Costs @ 8:30. Crude Oil Inventories @ 10:30.
Quick Tip: You’re Biased!
No offense. There are so many cognitive biases that affect our trading results, and everyone has some. Possibly the worst bias is called Personal Blind Spot.
It occurs when you fail to recognize your weaknesses and shortcomings, leading to suboptimal trading decisions and poor performance.
One of the primary ways to resolve this bias is through self-reflection and self-awareness. You must take the time to assess your strengths and weaknesses and be brutally honest about their limitations.
Easier said than done, so seek feedback from others, your colleagues, or mentors, to gain an objective perspective on your trading strategies and decision-making processes.
Another solid approach is to use objective data and analysis to make trading decisions, rather than relying solely on subjective intuition or emotion. Trade a plan using statistically relevant evidence and keep that body of evidence up to date to catch changes in market conditions.
Be flexible and willing to try new approaches to achieve better results. More importantly, be willing to listen to feedback from those you respect.
Our team day-trades multiple strategies with edge in a live online environment. We share best and worst practices and offer a sounding board for our behavior. Join the team, learn the strategies, and trade live with us daily for 30 days. New lower rate available now. 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!