Trade Aptitude

Results of Wednesday’s Best S&P Turning Points: Neither suggested level triggered. They remain active today. 

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

Buy 3811.00 stop 3806.75. Short 3902.25 stop 3908.00.   

The World Sentiment Index: (+100/-100) remains at +50 with most major world markets bullish. Historically the close was higher than the open 46% of the time. 

Catalysts: International Trade & Jobless Claims @ 8:30. EIA Petroleum Status Report @ 11:00. 

Quick Tip: Expectations vs. Reality

People are impressionable. Sometimes that can be a problem. We can have great expectations that don’t match up with reality. A perfectly fine trading result can seem like a failure after experiencing a big win. 

Here’s an example. Let’s say the first time you traded the levels shared in this blog your first trade was a 40-point winner. Clearly you’d be ecstatic. What would your expectations be for future trade suggestions? If all you saw were 5 and 10-point winning trades for weeks on end you might be a bit disappointed. But those are more the reality. The frequency of modest winners is much higher than the big runners. 

This happened to me when I started trading in the late 90’s. The strategy I found worked very well during the dot-com bubble. Easy money. Then the volatility vanished, and it turned into a loser. Time to search for a new approach. 

The problem was that my expectations were so high that trading other strategies for what were decent returns didn’t make sense to me. I wanted to find the next killer, big-money strategy. I churned my account and lost for quite a while. Eventually I found “reality.” 

Enjoy the big runners, days, weeks, and months but keep grounded. 

Tired of trading alone? Join our trading team. We use evidence-based rules across multiple strategies, and constantly research and test new ideas. Click here for a no-risk 30-day offer. You can make 2023 your best trading year ever! 

Trade Fearlessly,

Mike Siewruk 

P.S. Feel free to share this blog with all your trading buddies.