Trade Aptitude

Results of Tuesday’s Best S&P Futures Turning Points: Neither trade triggered. The levels remain on the chart. 

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

Buy 4181.75 stop 4177.50. Short 4305.00 stop 4309.00.

The World Index: (+100/-100) drops from +21 to zero in a world of mixed sentiment and low volatility.  

Catalysts: New Home Sales @ 10:00. Crude Oil Inventories @ 10:30. Earnings from 251 companies including META after the close. 

Quick Tip: Confirmation

Here’s a great quote from Jesse Livermore that deserves your attention, “"Do not anticipate and move without market confirmation—being a little late in your trade is your insurance that you are right or wrong."

In our effort to succeed we can devote too much effort to predicting the future. Good luck. The problem is that our predictions are correct just enough to keep us predicting. The feeling of getting into a winning trade at the start of the move is intoxicating. 

I recall demonstrating our intraday trend strategy and one trader was disappointed that we didn’t “pick the bottom.” We waited for confirmation and then entered on a modest retracement. This strategy has an edge. Trying to get the perfect entry is a waste of time and, according to Livermore, money. 

Being right or wrong is not the goal. Losing less is. Review your strategy rules with a focus on how much confirmation you’re getting. Document your results and stick with what works for you.

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.