Trade Aptitude

Results of Tuesday’s Best S&P Futures Turning Points: Neither suggested trade triggered and they remain on the chart. 

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

Buy 4386.75 stop 4382.00. Short 4471.00 stop 4476.75.

The World Sentiment Index: (+100/-100) rises from -43 to -14 with China/Hong Kong very Bearish and the others mixed on very low volatility. 

Catalysts: Fed Chair Powell testifies to House Financial Services Committee @ 10:00. 

Quick Tip: Be Calm

Even if you don’t golf you’ve probably heard that it’s a mental game. Most athletics are. Trading is too. Dr. Richard Coop, author of the book “Mind Over Golf” advises players to have their own personal “pre-shot routine.” 

Let’s use his advice but change the details to improve our trading. 

1. If you’re approaching a trade entry with a negative feeling, pause and use some physical ritual to regain calm control and reset your concentration. The ritual may be standing up and stretching or closing your eyes and counting backward from 10 to 1. It can be whatever you want. 

2. To avoid the negative feelings going forward, develop your own pre-trade routine. This keeps stray thoughts that can be detrimental from entering your mind while trading. 

3. The trick is to develop this pre-trade routine that calms and relaxes, not heightens anxiety. It’s proven in clinical studies that when you’re calm and relaxed you can’t activate negative thoughts or behavior. 

Just like great athletes, great traders have a consistent routine and poor traders don’t.

Trade Fearlessly,

Mike Siewruk

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