Trade Aptitude

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

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

Buy 4163.75 stop 4160.00. Short 4206.50 stop 4212.25.  

The World Sentiment Index: (+100/-100) eases from +43 to +36 with most major world markets mildly Bullish.   

Catalysts: Maybe Housing Starts @ 8:30. China’s return to growth moves the European markets and S&P futures higher. 

Quick Tip: Goals Don’t Work

I’m reading a great book, Atomic Habits by James Clear (highly recommended). Controversially, he opens with the view that goals while good don’t work. They’re inferior to the process you use to achieve the goal. 

Goals focus on the outcome, while processes focus on building systems that lead to continuous achievement. Goals are important because they give you direction and motivation, but they can also be limiting because they create a "win-lose" mentality where you either achieve your goal or you don't.

On the other hand, processes are about creating habits that help you make progress towards your goals consistently over time. When you focus on the process, you focus on the actions that lead to success rather than just the outcome. This helps you build momentum, create positive habits, and make progress even when things get tough.

You likely have some goals in your trading plan. Improving discipline, profit targets, and loss limits would be common. Clear’s point is applicable here. Simply writing down the goal is not enough. How do you feel when you fail to reach the goal? Do you have a process that keeps you trying until you succeed? (Mine is constant documentation and review.)

Inexperienced traders will focus on the outcome of their trades. That’s like focusing on the goal. Happy to win, disappointed to lose. Great traders focus on execution and commitment to their rules. That’s how they can stay the course during the inevitable periods of losing or breakeven trades. 

Our team day-trades multiple strategies with edge in a live online environment. We’ve found it’s easier to remain disciplined to your process when you’re held accountable by others. Join the 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