Today’s Best S&P Futures Turning Points: This strategy remains on hold.
The World Index: (+100/-100) drops from -50 to -86 with all major world markets very Bearish on quickly rising volatility. Contrarian alert.
Catalysts: Employment Report @ 8:30. Factory Orders @ 10:00. AAPL/AMZN fail to inspire. Tech selloff continues.
Quick Tip: Re-Entries
Yesterday’s solid trend lower offered many short entry opportunities. Our intraday trend strategy offered solid winners in the morning of 34.50, 21.75 and 25.50 points. The afternoon saw 14.25- and 11.00-point winners and finally, a 17.25-point loser.
That well had plenty of water in it. You could keep drinking. The real issue is what was the quality of the water?
Examine each trade result. The morning was crystal clear ice-cold water. Very satisfying. Subsequent touches were good but not as clear and cold. Eventually the well went dry and produced a loser.
Now, if you knew that over thousands of trades re-entries were less effective, would you bother to take them? Would you risk your winnings on a LOWER probability setup?
The trading team here knows how many re-entries to take and when it’s better to move on to the next HIGH probability setup. Sure, you’ll miss some winners but in aggregate you’ll be ahead.
Our team day-trades multiple strategies with edge in a live online environment. No one trades all the strategies, but they have a working knowledge of each and choose which fits their personality. Join our team, learn the strategies, and trade live with us daily for 30 days. Money back if you’re not blown away! Learn more here.
Trade Fearlessly,
Mike Siewruk
P.S. Feel free to pass this along to your trading buddies. Share in the wealth!
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