Trade Aptitude

Yesterday’s results: No trade triggered. 

Today’s Best S&P Futures Turning Points: Buy 5705.75 stop 5700.00. No short level today. 

The World Index: (+100/-100) plummets from +93 to +7 with Asia Bullish and the west modestly Bearish. 

Catalysts: Nothing on the economic calendar. Fed’s Harker speaks @ 14:00. 

Quick Tip: Choices

The first serious sports car I bought was painted gold. It was the only one of that model the dealer had at the time and they were hard to get. I didn’t love the color, but I really wanted the car. 

Most of the time we have choices and that’s a good thing. Traders have plenty of choices. Maybe too many. Which asset to trade, how many shares/contracts, entries, exits, etc. That’s why you should have a plan and stick to your rules. 

One of the choices I’ve noticed many traders don’t have is which strategy to execute. It seems they learn one and stick with it. Market conditions change and not all strategies work well in all markets. Having no choice leaves you with downtime or worse yet, losing due to impulsive entries (kind of like buying the wrong color car). 

In our live trading room, we trade multiple strategies that work in different market conditions. We assess the market and execute the strategy that matches conditions the best we can. For example, yesterday our intraday trend strategy had no losers and banked 29.75 S&P points. Our volatility reversal strategy had no winners and lost 24 S&P points. The same asset traded differently with opposite results. 

Once you have the skill in trading multiple strategies you can select the best strategy for the current market conditions. Less downtime, more opportunity.

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!