Trade Aptitude

Today’s Best S&P Futures Turning Points: Nothing tradeable today.  

Thursday’s results: This strategy is on hold. 

The World Index: (+100/-100) jumps from -50 to +29 with most major world markets mildly Bullish. 

Catalysts: PCE Price Index/Personal Income/Personal Spending @ 8:30. Fed’s Daly @ 8:40. Chicago PMI @ 9:45. UofM Consumer Sentiment (revised) @ 10:00. Fed’s Monetary Policy Report @ 11:00. Fed’s Bowman @ 12:00, Daly @ 12:40.  

Quick Tip: Calm Down

Even if you don’t golf you’ve probably heard that it’s a mental game. Most athletics are. Trading is too. Dr. Richard Coop, author of the book “Mind Over Golf” advises players to have their own personal pre-shot routine.

Let’s use his advice but change the details to improve our trading. 

1. If you’re approaching a trade entry with a negative feeling, pause and use some physical ritual to regain calm control and reset your concentration. The ritual may be standing up and stretching or closing your eyes and counting backward from 10 to 1. It can be whatever you want. 

2. To avoid the negative feelings going forward, develop your own pre-trade routine. This keeps stray thoughts that can be detrimental from entering your mind while trading. 

3. The trick is to develop this pre-trade routine that calms and relaxes, not heightens anxiety. It’s proven in clinical studies that when you’re calm and relaxed you can’t activate negative thoughts or behavior. 

Just like great athletes, great traders have a consistent routine, and poor traders don’t.

If you’re interested in swing or position trading stocks and/or options, you should watch this training session I recorded recently. I demonstrated two leading indicators of stock price movement that are unique enough to get you a solid edge. Click here. 

Trade Fearlessly,

Mike Siewruk

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