Trade Aptitude

Results of Monday’s Best S&P Futures Turning Points: : No levels offered due to contract rollover. 

Today’s Best S&P Futures Turning Points (all trades are filtered out prior to CPI release today): 

Buy 4662.00 stop 4658.25. Short 4714.50 stop 4719.75. 

The World Index: (+100/-100) gains from +14 to +29 with most major world markets mildly Bullish.

Catalysts: CPI @ 8:30. 30-year bond auction @ 13:01. 

Quick Tip: Commitment

If you’re relatively new to trading you’ve probably experienced overwhelm from all the choices you have. All the decisions you must make. 

What asset to trade? 

Which timeframe? 

Which broker? 

Whose strategy to follow? 

How much to risk? 

The list is long. After guiding more than 4000 new traders through the process of making these decisions over the past 15 years I’ve found there is a hierarchy to these decisions. 

Start with commitment. Don’t even think “I’ll give this a try.” 

Here’s an example. A friend of mine is a successful thoroughbred trainer. He’s accumulated solid wealth in his career. Now he wants to free up his time to travel more and “semi-retire.” Curious about trading he asked if I would teach him. 

I asked him why he wants to trade. His answer was along the lines of “something to do” and “I understand winning and losing.” No question anyone in the horse racing business gets the win/loss aspect!

But he thought trading was an easy endeavor. So, I asked him how long it would take him to teach me to be a successful thoroughbred trainer. Years. Trading is no different. Conversation ended. 

How committed are you? A quick way to find out is by reading some good books, like Brett Steenbarger’s Enhancing Trader Performance. His suggested process is the best I’ve found for anyone getting started. 

If you're already committed, take Steenbarger's advice and find a team to trade with. Our team day-trades multiple strategies with edge in a live online environment. Join us, 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!