Trade Aptitude

Today’s Best S&P Futures Turning Points: This strategy remains on hold.

The World Index: (+100/-100) SOARS from -7 to +86 with all major world markets strongly Bullish. 

Catalysts: ADP Employment Change @ 8:15. Employment Cost Index @ 8:30. Chicago PMI @ 9:45. Pending Home Sales @ 10:00. Crude Oil Inventories @ 10:30. FOMC Statement @ 14:00, Press Conference @ 14:30. META reports after the close. BOJ raises rates.

Quick Tip: Disqualifying 

Traditional work (your job) makes becoming a winning trader difficult. Not because of the time devotion, but because it instills a belief that is NOT helpful in trading. 

What is it? Always doing something. Can you imagine if you were caught doing nothing and told the boss “Now is not a good time to be working on this.” Or “Wednesdays are difficult days to get anything done, so I’m going to loaf.” 

In trading NOT entering a trade is not only OK it’s sometimes the smart decision. Today is FOMC day. Volatility will be high for an hour or so. There are times when the probability of success is low. Don’t trade. Unlike your job, doing nothing is completely acceptable.

Idea: Create a checklist for your trades. Let the preponderance of evidence guide your decision. 

One very successful trader on our team leans toward “disqualifying” setups. My preference is to think positive and “qualify” setups. Subtle difference. Chatting the other day, he said he thinks he should be more like me and not miss more opportunities. I said I should be more like him and miss more losers! Find your happy place.

Not comfortable with your strategy yet? Our Swing Trading team uses unusual options trades and Insider buys for candidate selection. These are setups with considerable evidence from thousands of trades. We use a tool that makes this incredibly easy. Watch the demo here. No disappointments!

Trade Fearlessly,

Mike Siewruk

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