Trade Aptitude

Results of Tuesday’s Best S&P Futures Turning Points: Shorting 4415.00 stopped out.  

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

The volume levels are very far apart, a good reason to have other strategies to trade. Buy 4285.75 stop 4280.00. Short 4498.00 stop 4502.25.

The World Index: (+100/-100) dumps from +36 to -43 with all major world markets Bearish. 

Catalysts: Building Permits & Housing Starts @ 8:30. Crude Oil Inventories @ 10:30. Fed-speak @ 12:00, 12:30, 13:00 and 15:15. Beige Book @ 14:00. China’s growing again. War gets ugly. Risk off mood. 

Quick Tip: Two More Choices

Yesterday I shared the idea that a good exit may be an opposing signal from a different strategy that you use and know has an edge. In fact, there were 4 choices suggested.

One of our trading team members offered further choices that expand this, and I wanted to share them with you while the idea is fresh in your mind. 

5. Exit (or scale out) at the reversal signal, anticipating re-entering wholly or partially on a pullback. After all, you expect a reaction to the reversal signal, and this way you're trading both - kind of eating your cake and having it too. 

6. Move your stop up very closely, expecting it to kick you out on that tightened stop. If price should ignore your reversal signal (as can happen) you're still in the trade. But again, you expect a reaction to the reversal signal, so waiting for a significant pullback to your original stop (or breakeven or adjusted stop) is almost irresponsible.

This is why trading with a team is so powerful. Synergy. Creativity. You simply learn more, faster.

Are you tired of talking to yourself? Join our team. You can learn multiple strategies tuned for different market conditions and trade live with us for 30 days. New reduced price offer. Money back if you’re not blown away!

Trade Fearlessly,

Mike Siewruk

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