Trade Aptitude
Results of Tuesday’s Best S&P Futures Turning Points: The suggested buy at 4136.50 stopped out.
Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets):
Buy 4101.50 stop 4097.25. Short 4148.75 stop 4154.00.
The World Sentiment Index: (+100/-100) drops from +36 to -40 with most major world markets modestly Bearish on falling volatility.
Catalysts: ADP Employment Report @ 8:15. International Trade @ 8:30. ISM Services @ 10:00. Crude Oil Inventories @ 10:30.
Quick Tip: No Worries
Yesterday was my birthday so I was feeling a bit happier and more optimistic than usual. My primary trading strategy is working well, but the market didn’t reward me with a birthday gift. I started with 3 full losing trades (stopped out with no targets filled). After that I had two breakeven trades. Down day.
But I wasn’t down. My expectations are based on reality. And the reality is any strategy will have winning and losing streaks. The question you want answered is how long are they likely to be?
In this case, looking back at 1549 trades, losing 3 or more in a row will happen 7.5% of the time, losing 4 or more 3.1% of the time, losing 5 or more 1.3% of the time. Nothing to worry about.
Documenting your trading strategies results is important for managing your emotions and reactions. If you don’t know the probability your confidence will be low. Make sure you’re tracking all the trade setups, not just the trades you took. You want to see the real numbers unaffected by any discretionary decisions you’re making.
Our team day-trades multiple strategies with edge in a live online environment. We regularly review performance statistics on all of them to stay grounded when winning and losing streaks occur. 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