Trade Aptitude

Yesterday’s results: Buying 5469.75 filled in the Globex session catching the low of the session and ran for 14.00 points still open and running. 

Today’s Best S&P Futures Turning Points: Buy 5461.50 stop 5458.00. Short 5521.00 stop 5525.75. No trades suggested around the Non-Farm Payrolls release. 

The World Index: (+100/-100) drops from -7 to -43 with most major world markets back to Bearish. 

Catalysts: Non-Farm Payrolls/Unemployment Rate/Average Earnings @ 8:30. Fed’s Williams @ 8:45 and Waller @ 11:00. 

Quick Tip: Night Moves

One of the nice features of trading the volume levels from this newsletter is the set/forget entry available on the reversals. 

Yesterday’s buy at 5469.75 didn’t fill until 3:20 AM ET. You were likely sleeping. Placing the order beforehand brought you a welcome “Good Morning!”

You had a choice of stops: leave the initial stop level and potentially give up profit on a retracement or make it a trailing stop equal to the initial risk and potentially miss a winning run after some chop. Neither is perfect but trading while you’re sleeping has its appeal! 

For your profit target, 3:1 Reward/Risk filled and that's a good ratio to end the trade or scale out partial position. 

Our trading teams focus on day trading futures and swing trading options. Maybe you'll fit right in. You can try either or both risk-free. 

Trade Fearlessly,

Mike Siewruk

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