Trade Aptitude

Results of Tuesday’s Best S&P Futures Turning Points: Buying 4485.75 caught the bottom of the session and ran for 38 points to the next volume level (unpublished, click the button below to join and receive all the levels). 

Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets): 

Buy 4489.00 stop 4485.25. Short 4543.75 stop 4548.25.

The World Sentiment Index: (+100/-100) jumps from -57 to +29 in a world of mostly mild Bullish sentiment. 

Catalysts: Nothing on the economic calendar. Deflation in China. Waiting on the CPI. 

Quick Tip: Lemonade

Reframing your thinking is like turning lemons into lemonade. Yesterday is a great example of when you should be reframing your thinking and thus your attitude. 

The suggested buy caught the bottom of the session and ran a healthy 38 points. However, the actual bottom of the session was the suggested stop loss! To the tick!

OK, you saw a bounce of 7.75 points and may have taken a quick scalp, so it wasn’t a total waste. Our exit strategy on this trade would have netted 6 points. 

In review you’re seeing the level was an awesome entry and you likely didn’t get the entire run. You can be disappointed OR you can re-frame. Ask yourself “Overall didn’t the level work well?” 

 As much as we try to be precise, the noise in the market will have an effect.  

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Trade Fearlessly,

Mike Siewruk