Trade Aptitude

Results of Wednesday’s Best S&P Turning Points: There was a typo in the levels yesterday. The short was a buy level. It did not trigger and remains active. 

Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets): 

Buy 3853.25 stop 3848.25. Short 3924.50 stop 3930.25. 

The World Sentiment Index: (+100/-100) EASES from +36 to +21 in a world of mixed sentiment. Historically the close was higher than the open 56% of the time. 

Catalysts: GDP & Jobless Claims @ 8:30.  

Quick Tip: After You Win

If you’re a regular reader of this blog you know that documentation and review of all your trade setups (taken or not) is essential to improving your results. 

It’s easy to skimp on this work by focusing on the losers. Your instinct is to understand why you lost. Was it something you did wrong? Could you discover a change to your trade plan that is beneficial? Was it simply meant to be as a natural part of the win/lose paradigm?

An excellent method for reframing your attitude to positive is to focus equally as much on reviewing your winners. It’s too easy to ignore this. The trade worked. You were profitable. Why explore that? Because reinforcing through review and thoughtfulness what you did right will cement those good habits. 

Whatever you feed your mind is what you’ll get in return. Focus equally on the positive outcomes to become more confident and successful.

If you’re looking to join a trading team that uses evidence-based rules across multiple strategies, click here for a no-risk 30-day offer. You can learn the strategies, trade them in simulation mode, and pick which resonates with your personality, if not all of them. 

Trade Fearlessly,

Mike Siewruk 

P.S. Feel free to share this blog with all your trading buddies.