Trade Aptitude
Results of Tuesday’s Best S&P Turning Points: Neither volume level triggered.
Today’s Best S&P Turning Points (trades are cancelled between 14:00 & 15:00 ET due to FOMC volatility):
Buy 4014.75 stop 4009.25. Short 4073.50 stop 4077.50.
The World Sentiment Index: (+100/-100) drops from +92 to +50 in a bullish world.
Catalysts: Crude Oil Inventories @ 10:30. FOMC Announcement @ 14:00, press conference @ 14:30.
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 to have 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.
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 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