Trade Aptitude

Results of Tuesday’s Best S&P Futures Turning Points: Buying 4277.25 stopped out after a 5.50-point bounce. 

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

Buy 4228.50 stop 4223.25. Short 4357.50 stop 4363.25.

The World Index: (+100/-100) eases from -33 to -8 with Asia Bearish and the west mildly Bullish. 

Catalysts: ADP Non-Farm Employment Change @ 8:15. ISM Services PMI @ 10:00. Crude Oil Inventories @ 10:30. OPEC Meeting (all day). Bond yields up. 

Quick Tip: More Risk

You certainly have a risk management plan. Without it you’ll fail at trading sooner rather than later. New traders think their chosen stop loss order is their risk management plan. Important, but not nearly enough. Here’s more risks you need to cover in your plan: Trade, Psychological, Market, Liquidity, Strategy, Technology, and Brokerage.

This game is looking riskier suddenly. How do you balance concern over all the risks with a focus on a positive expectation? 

Top notch traders have what is called a “barbell” personality. They are optimistic about the future and confident their strategies will prevail. But they are paranoid about what will prevent that from happening. 

Our goals are shiny and desirable. But we know the path won’t be smooth as glass. Do some thinking about what could stop your success. Planning for it will make it easier to digest and solve.

Are you struggling with tough decisions on your own?  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!

Trade Fearlessly,

Mike Siewruk

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