Trade Aptitude

Results of Friday’s Best S&P Futures Turning Points: Neither level triggered. 

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

Buy 4339.25 stop 4334.00. Short 4378.50 stop 4383.25

The World Index: (+100/-100) dumps from +21 to -36 with most major world markets Bearish.  

Catalysts: Nothing on the economic calendar. Trouble intensifies for Chinese Real Estate stocks. 

Quick Tip: Waiting 

I grew up in Michigan. A local saying about the weather was “Wait a day, it’ll change.” Now I live in Florida where during the rainy season you can drop your waiting time to an hour!

Markets are very similar. They trend up or down and then move sideways. Back and forth. Patience pays off and impulsivity gets hammered. 

This cyclicality applies to your strategy performance too. You’ll have winning streaks, flat periods, and losing streaks. Given this reality you need rules to manage each condition to prosper, even survive. 

Here’s an example: From September 2022 through July 2023 our intraday trend strategy was printing profits. There were losers and even short losing streaks, but overall the equity curve was impressive. Those conditions suggest “risk on”, take the trades, increase your size. 

Currently the strategy performance has fallen off. Just like you can’t consistently pick tops and bottoms, you can’t do the same with strategy starts and stops. What can you do? Be more selective. Reduce size. Learn to wait. And most importantly, have another strategy to trade!

Tired of trading alone and guessing what to do next? Join our team. You can learn the strategies and trade live with us daily for 30 days. Money back if you’re not blown away! Click here for details. 

Trade Fearlessly,

Mike Siewruk

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