Trade Aptitude

Today’s Best S&P Futures Turning Points: Nothing tradeable today.  

Friday’s results: This strategy is on hold. 

The World Index: (+100/-100) improves from +29 to +50 with all major world markets mildly Bullish. 

Catalysts: S&P MFG PMI Final @ 9:45. ISM MFG PMI @10:00. 

Quick Tip: Blind Spot

There are so many cognitive biases that affect our trading results, and everyone has some. Possibly the worst bias is called Personal Blind Spot.

It occurs when you fail to recognize your weaknesses and shortcomings, leading to suboptimal trading decisions and poor performance.

One of the primary ways to resolve this bias is through self-reflection and self-awareness. You must take the time to assess your strengths and weaknesses and be brutally honest about their limitations.

Easier said than done, so get feedback from others, your colleagues, or mentors, to gain an objective perspective on your trading behavior. 

For example, while I tell our team not to multi-task and stay focused, I would multi-task and lose focus on occasion. When I first realized this, I justified it. I’m trading my account live, analyzing market conditions, and teaching techniques simultaneously. How could I not multi-task? 

The answer was simply prioritizing. Managing live trades won.

We have two teams at The Daily Market Forecast. Futures day traders and Stock/Options swing traders. Click your style and learn more. 

Trade Fearlessly,

Mike Siewruk

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