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Today’s Best S&P Futures Turning Points: Buy 5169.50 stop 5164.75. Short 5249.50 stop 5253.50.
Friday’s results: Buying 5215.25 stopped out.
The World Index: (+100/-100) improves from +7 to +24 with mixed sentiment worldwide.
Catalysts: Retail Sales, Empire State MFG Index, Fed’s Williams @ 8:30. Housing Market Index @ 10:00.
Quick Tip: 5 Fears
Fear paralyzes progress in anything you do. In trading, there are 5 types of fear. Recognizing you’re susceptible to them is the first step to a solution.
Fear of Missing Out (FOMO) – you can’t tolerate watching a winning trade from the sidelines. This breeds impulsivity. Solution: Have an abundance of trade opportunities.
Fear of Loss – you still feel upset about losing money. Solution: Lower your risk and find a strategy you have confidence in
Fear of Being Wrong – you are embarrassed to be wrong and get mad at yourself when you are. Solution: Understand that individual trade results are meaningless. Focus on the long term.
Fear of Success – you don’t have a winning self-image and don’t think you deserve success. Solution: Read The New Psycho-Cybernetics by Maltz & Kennedy. No kidding. I read it twice in a row.
Fear of Uncertainty – you hesitate to decide and always want more information. Document your results and study the flow of wins and losses to understand uncertainty is never going away.
Tired of trading alone and guessing what to do next? 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!
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