Trade Aptitude
Results of Friday’s Best S&P Turning Points: Neither suggested trade triggered.
Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets):
Buy 3895.25 stop 3890.50. Short 3999.00 stop 4004.75.
The World Sentiment Index: (+100/-100) dumps from +50 to-7 in a world of mixed sentiment.
Catalysts: Nothing on the economic calendar. Banking crisis widens. Waiting on FOMC Wednesday.
Quick Tip: Hybrid Trading
There is no “one way” to trade successfully. There are countless strategies and methods that can be profitable. You need to find what resonates with your trading psychology, style, and risk tolerance.
For example, consider two popular styles of trading: trend following and mean reversion. They both can be very profitable given the right rules and discipline to follow them. But the experience of trading each is quite different.
Trend followers will typically have many small losing trades and fewer large winning trades. That’s the nature of trends. You’ll have to be comfortable with several losses, frequently in a row, and have the confidence to persist for the big winner.
Mean reversion will typically have many modest winning trades and fewer modest losing trades. The expectation long term may not be as great as trend following, but the day-to-day experience of many winners is generally easier to digest.
Our intraday trend strategy is a hybrid of the two. The solution is in your money management rules. By trading multiple contracts and scaling out of every trade you can bank quick profits which are far more likely to occur and leave some contracts for the trend, if it happens. Add a trailing stop based on present time volatility and you’re good to go.
A great way for you to decide which is best for you, trend, reversal, or hybrid is to 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