Trade Aptitude

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

Monday’s results: This strategy is on hold... but is improving and likely out of the drawdown soon.

The World Index: (+100/-100) reverses from +36 to -14 with many major world markets motionless. 

Catalysts: Existing Home Sales & Richmond MFG Index @ 10:00. TSLA & AMZN earnings after the close. 

Quick Tip: Strategy Death

This Volume Profile strategy has been in a drawdown for some time. It’s getting painful to document the setups/results every day, but it must be done. Otherwise, how would we know if the strategy is worth trading again? 

What I’ve noticed in the daily review is that the levels are not the main problem. It appears the entry and exit rules are. Fortunately, we have thousands of trades documented, each with 47 data points, and this offers us a significant research opportunity to solve the problem. Stay tuned. 

Why am I sharing this with you? 

Two reasons: 

1) Documenting and reviewing your trading strategy results, whether you took the trade or not, is critical. Nothing is worse than not knowing why you’re failing. Invest the time and you’ll be rewarded. 

2) If you’re only trading one strategy, start learning others. While this strategy is “on hold,” our Volatility Reversal strategy hit new equity highs in the S&P, Gold, and Oil last week. Trading in abundance beats scarcity every time.

Tired of trading trading alone? Join our teams. Click here for all the details: Day Trading Futures or Swing Trading Options. 

Trade Fearlessly,

Mike Siewruk

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