Trade Aptitude

Results of Tuesday’s Best S&P Futures Turning Points: : Neither trade triggered. 

Today’s Best S&P Futures Turning Points (all trades filtered during GDP release): 

Buy 5046.75 stop 5042.75. Short 5117.50 stop 5121.00.

The World Index: (+100/-100) plummets from +38 to -44 with most major world markets Bearish on rising volatility. 

Catalysts: GDP @ 8:30. Crude Oil Inventories @ 10:30. Fed’s Bostic @ 12:00 and Williams @ 12:45. 

Quick Tip: Pros Agree

Three celebrated authors on trading success, Mark Douglas, Van Tharp, and Alexander Elder, all agree that one aspect of trading is crucially important: 

"The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading." - Mark Douglas

"Successful trading is not about being right; it’s about being disciplined. Discipline is the ability to follow one's trading plan, regardless of emotions or external influences." - Van K. Tharp

"Discipline is the bridge between goals and accomplishment in trading. It's the ability to stick to your plan even when fear, greed, and doubt try to derail you." - Alexander Elder

How does one become disciplined? According to Willpower author Roy Baumeister (who is not a trader, so use his research and advice in your life) "The best way to increase willpower is to practice self-control in small ways every day."

It’s incremental. Start with easy tasks striving for doable goals. Gradually increase. You’ll be amazed at how quickly your discipline improves. 

Tired of trading alone? Join our team. We trade multiple strategies with edge in a live market every day. Click here for details and a special offer. 

Trade Fearlessly,

Mike Siewruk

P.S. Forward this blog to your trading buddies. Share in the wealth!