Trade Aptitude
Results of Wednesday’s Best S&P Futures Turning Points: Buying 4181.75 stopped out in the Globex session last night.
Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets):
Buy 4126.50 stop 4120.75. Short 4270.75 stop 4276.50.
The World Index: (+100/-100) drops from zero to -50 with most major world markets Bearish on increasing volatility.
Catalysts: GDP, Jobless Claims, Durable Goods, and Trade Balance @ 8:30. Fed’s Waller @ 9:00. Pending Home Sales @ 10:00. Bloomberg: Putin said there’s a risk that an escalating conflict could “spill far beyond the borders of the Middle East.” META down in pre-market on forecast of uncertainty.
Quick Tip: When to Bank It
How traders approach their craft is very individual. Three traders using the same strategy may have different beliefs that vary their results, yet they follow the same asset selection and entry rules.
For example, if you entered short near yesterday’s open (we had this signal and did) you saw a quick 17-point drop. Not a bad 45-minutes of work.
If you decided to ride the momentum and accept the price swings, you saw a 30+ point gain at the close.
After that run in currently down-trending conditions you may have turned your day trade into an overnight hold. Now you’re looking at 60+ points.
When are you going to bank it? This type of decision and others like it are part of their trading plans. Their individual approaches to the same winning strategy significantly affect their performance and progress as traders. Whichever you choose documenting and reviewing all the setups will give insight to improve your decisions.
Our team receives detailed documentation from every trade setup, taken or not, every day. Join our team. You can learn multiple strategies tuned for different market conditions and trade live with us for 30 days. New reduced price offer. Money back if you’re not blown away!
Trade Fearlessly,
Mike Siewruk
P.S. Feel free to share this newsletter with your trading buddies.