Trade Aptitude
Results of Friday’s Best S&P Futures Turning Points: The suggested short @ 4103.75 was only good for 6.25 points.
Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets):
Buy 4100.50 stop 4097.25. Short 4146.00 stop 4151.75.
The World Sentiment Index: (+100/-100) drops from +50 to +29 in a mildly bullish world of decreasing volatility.
Catalysts: ISM MFG @ 10:00. Oil jumps on OPEC production cut.
Quick Tip: Visualization
In sports psychology one highly successful technique is positive visualization. In essence, the athlete will vividly imagine and visualize in the mind’s eye the result of what they are about to do.
Golf is an easy example for clarification. Top golfers, coached by sports psychologists are taught an interesting visualization technique. Famous golf coach and psychology professor Dr. Richard Coop instructs this way:
Before you take your shot, visualize exactly what it will look like, including minute details like how far it will roll after landing. Jack Nicklaus claimed it changed his game.
However, if you address the shot with even a hint of a negative attitude (indecision, concern, lack of focus, etc.) step back and reframe your mind until you are visualizing the perfect shot.
How does this apply to trading? While traders are not in control of the physical outcome like athletes, they are in control of their thoughts. Those thoughts lead to emotional response, behavior and eventually results.
Practice positive visualization before entering your trades. You won’t change the market reaction, but you will change for the better your outlook and confidence. Otherwise, the alternative, negative emotions, will keep you from success.
Our team day-trades multiple strategies with edge in a live online environment. While waiting for an entry it’s not uncommon for us to verbally “visualize” the next trade in the best light. Join our team, learn the strategies, and trade live with us daily for 30 days. Money back if you’re not blown away!
Trade Fearlessly,
Mike Siewruk