Trade Aptitude

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

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

Buy 4926.00 stop 4920.75. Short 4987.00 stop 4992.75.  

The World Index: (+100/-100) rises from zero to +25 with most major world markets mildly Bullish.

Catalysts: Final Services PMI @ 9:45. ISM Services PMI @ 10:00. Fed’s Bostic @ 14:00. 

Quick Tip: Reinvention

Great performers, traders included, never quit when the inevitable roadblocks and challenges arise. They adjust, learn from their mistakes, and move forward. 

You’re heard the term “reinvent yourself.” Out of favor actors do it. Corporations do it. Sometimes traders must do it. 

Like many traders who enjoyed the Tech Bubble in the late ‘90’s, I was trading a momentum strategy that printed money. It was simple and easy. Even during the crash, it performed well going short. Then it stopped working. The volatility dried up and the risk reward profile flattened. I churned out a sizable losing year after several good years. 

When your strategy or style stops working, look at the current market conditions. It may be time to retire the strategy and reinvent yourself. All strategies don’t work in all market conditions. Markets change. You should too. 

Reinvention in this case means researching different strategies to find one that resonates with your personality. There are plenty of ways to trade the market. Enjoying and believing in what you’re doing is vital. 

Flexibility and open-mindedness are critical to continued success in the markets. Just like any other profession. 

Tired of trading alone? Our team day-trades multiple strategies with edge in a live online environment. Join us, learn the strategies, and trade live with us daily for 30 days. Money back if you’re not blown away!

Trade Fearlessly,

Mike Siewruk

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