Trade Aptitude

Today’s Best S&P Futures Turning Points: Buy 5343.00 stop 5339.25. Short 5340.00 stop 5343.75 if price drops below and retraces up to entry. 

Wednesday’s results: Buying 5321.50 was filtered out during the FOMC Minutes volatility. 

The World Index: (+100/-100) rises from -37 to +7 with sentiment mixed, firmly Bearish in Shanghai & HK, Bullish elsewhere. 

Catalysts: Jobless Claims @ 8:30. Flash MFG & Services PMI @ 9:45. New Home Sales @ 10:00. Fed’s Bostic @ 15:00. 

Quick Tip: After Losing 

What do you do after a losing trade? 

There’s statistical and observable evidence that the number of winning traders is much smaller than the number of mediocre, losing, and failed traders. 

If that’s the case, then the best lesson you could learn and the surest route to success in trading is to emulate the winners. Copy their successful actions. 

Setting aside their actual strategy rules, which you may never be privy to, think about how they handle losses. They have them, too. The answer is almost always their attitude toward defeat and loss. They don’t commiserate, sulk, or quit. They carefully inspect those losses to determine how they can minimize or avoid them in the future. They get up after being knocked down. Every time. 

Every loss, failure, or setback is a potential goldmine of a learning experience. The formula is simple but not easy to make a habit. You should do it, though. 

1. Did you follow all your rules? If so, it’s just a losing trade. Happens. 

2. If not, what did you do wrong? Document your error. 

3. Has the market changed? Is your strategy in harmony with the current conditions? Document your observations and “back test” if possible. 

4. Create a routine, system, or reminder to make sure you don’t commit the error again or ignore a changing market condition. 

Defeat is only a state of mind. Recognize it and learn from it. 

Tired of trading alone? 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! Take advantage of the final days of this promotional price.   

Trade Fearlessly,

Mike Siewruk

P.S.  Feel free to pass this along to your trading buddies. Share in the wealth!