Trade Aptitude

Yesterday’s results: The short entry at 5808.00 triggered minutes before the close and failed. Day traders would pass on the trade, swing traders took the loss. 

Today’s Best S&P Futures Turning Points: Buy 5790.75 stop 5785.00. No short suggestion. 

The World Index: (+100/-100) jumps from -14 to +30 with sentiment mostly Bullish. China/HK closed for a holiday week. 

Catalysts: S&P Final MFG PMI @ 9:45. ISM MFG PMI, Prices, Construction Spending & JOLTS @ 10:00. Fed’s Bostic @ 11:00, Cook @ 11:10.

Quick Tip: Biorhythms

I’m not sure if there is truth to the biorhythm theory that we are affected by three cycles: physical, emotional, and intellectual. But there is no question our performance at just about anything cycles. Winning, losing, flatlining. 

I watched the Detroit Lions quarterback, Jared Goff set a record yesterday completing ALL of his 18 passes in a rout over the Seattle Seahawks. Last week he performed “OK” at best. 

Trading is considered a performance activity like athletics. It requires mental toughness, discipline, flexibility, commitment, and practice. 

I’ll bet that after last week’s average performance Goff practiced his heart out in preparation for last night. Why wouldn’t a trader do the same thing after a losing period? Why should we assume that practice is for the early stages of our trading career? 

If you’re struggling in trading it makes sense to take a break from live money trading and practice in simulation mode until you’re feeling peak confidence again. 

Our trading teams focus on day trading futures and swing trading options. Maybe you'll fit right in. You can try either or both risk-free. 

Trade Fearlessly,

Mike Siewruk

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