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Today’s Best S&P Futures Turning Points: Buy 5185.25 stop 5181.75. Short 5249.50 stop 5253.50.
Monday’s results: Shorting 5206.50 triggered at the close of the cash market and wasn’t taken. If you converted it to a swing trade it was only worth 4.25 points.
The World Index: (+100/-100) drops from +60 to +29 as the Bullish sentiment fades on lower volatility.
Catalysts: Fed’s Kashkari @ 11:30.
Quick Tip: Intuition
The best way to start trading is to have a plan with an edge and the discipline to execute without emotion.
Once you’ve arrived there you will have considerable experience and that leads to intuition. The interplay between these two can often be the difference between a profitable trade and a significant loss.
Experience is gained through considerable time observing markets, making trades, witnessing cycles, and understanding economic indicators.
Intuition, on the other hand, is more elusive. It's that gut feeling or 'sixth sense' that you might have for a particular trade’s outcome.
The relationship between the two is symbiotic. Experience informs and refines intuition, making it a sharper tool in your arsenal.
Successful traders learn to balance both intuition and experience. Relying too heavily on intuition without the backing of experience can lead to reckless decisions, while depending solely on experience might cause you to miss out on unconventional opportunities that intuition could have caught.
In essence, trading is as much an art as it is a science, and mastering the balance between intuition and experience is key to achieving long-term success.
Here’s a great way to test your intuition as it grows. Don’t act on it. Instead document in your journal what your intuition told you to do relative to your trade plan rules. Over time, you’ll likely find enough improvement in your intuition to start trusting it in your trading.
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Trade Fearlessly,
Mike Siewruk
P.S. Feel free to pass this along to your trading buddies. Share in the wealth!
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