Trade Aptitude

Today’s Best S&P Futures Turning Points: This strategy remains on hold but is improving. 

The World Index: (+100/-100) eases from +14 to -7 with Asia Bearish and Europe mildly Bullish. 

Catalysts: Crude Oil Inventories @ 10:30. Waiting on NVDA earnings after the close. 

Welcome back to Poker Week! If you didn’t read the last two blog posts now is a great time to do so. All week we’re exploring poker lessons that are also invaluable for traders. Enjoy!

Lesson #3: Think Long Term

Long term thinking doesn’t mean you should have a trade plan that only takes long term trades. It means the results in the short term are not relevant. What is relevant is your overall success. 

This is a tough pill to swallow for the short term trader. Some have daily or weekly income goals. They’re thinking short term. But how do they handle a few losing days or weeks in a row? 

A great analogy comes from poker champion Bobby Baldwin. He said “Poker is one continuous game” which goes on forever and starts up again the next day. It’s the same with trading markets. They do reopen. 

You don’t succeed in trading having a great day, week, or month. You succeed in trading having great years. It’s a continuum executed with probabilities in your favor and the mental toughness to weather the losses and flat runs. Don't get too upset about adverse short term results. Review your behavior and market conditions to find a potential fix. 

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!