Trade Aptitude

Results of Monday’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 4547.50 stop 4543.25. Short 4598.50 stop 4604.25. 

The World Index: (+100/-100) drops from +7 to -29 with the major world markets flat or modestly Bearish on low volatility. 

Catalysts: Existing Home Sales @ 10:00. FOMC Meeting Minutes @ 14:00. NVDA earnings after the close. 

Quick Tip: Be Different

“If you set out to be successful at something and you don’t know how to do it, look around at what everybody else is doing, and don’t do that…” Earl Nightingale

This advice is especially true with trading. If everyone traded the same way there would be no counter parties. We need plenty of different styles and opposing viewpoints for the markets to exist. 

If you’re still struggling it’s a good idea to stop trading live money and start looking at alternative trading styles. Be open-minded. I’ve met too many traders over the past 23 years who are fixed on one way to trade because that’s what they bought into from the start. 

Think of your prior investment in trading education as a trade. Some winners, some losers. 

I’ve personally invested a small fortune in trading education. And here’s a surprise, I still do. I invest in myself every month. Some of the strategies, books, and courses are worth little. I consider them small losses. Some are enlightening and have great potential. I consider them winners. Just like trading. 

Getting back to Earl’s quote, what you want to find is a style and strategy that has edge, but not too many people are doing it. You want something proprietary. Granted, with tens of millions of traders out there nothing is truly unique. But nearly so is a good thing. 

If you’re interested in swing or position trading stocks and/or options, you should attend our free training session tonight, Tuesday November 21st @ 7PM ET. We’ll be demonstrating TWO leading indicators of stock price that are unique enough to get you a solid edge. Click here to reserve your seat. 

Trade Fearlessly,

Mike Siewruk

P.S. Feel free to share this newsletter with your trading buddies.