Trade Aptitude
Results of Thursday’s Best S&P Turning Points: Neither suggested trade triggered. Both remain on the chart for today.
Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets):
Buy 4059.25 stop 4055.00. Short 4103.75 stop 4109.50.
The World Sentiment Index: (+100/-100) remains +50 with all major world markets mildly Bullish on lower volatility.
Catalysts: PCE (Fed’s primary inflation measure) @ 8:30. Chicago PMI @ 9:45. UM Consumer Sentiment @ 10:00.
Quick Tip: Struggling?
Markets are either trending or not, volatile, or not. It should be no wonder that traders may have similar cycles of performance, winning streaks, losing streaks, consistency and inconsistency.
If you’re struggling, here’s a simple but highly effective checklist to work through.
1. Take a break, clear your mind, and come back to trading with a fresh perspective.
2. Analyze your past trades to identify patterns in your trading behavior. Look for mistakes that you may be repeating and try to find ways to avoid them in the future. Do the same analysis for your winning trades and try to identify what you did right.
3. Revisit your trading plan to see if it's still aligned with market conditions and your preferred style of trading.
4. Manage your emotions. You may have developed bad habits and emotional responses that are killing your performance. Practice mindfulness and work on developing positive self-talk.
5. Focus on process rather than outcomes. Perfect your discipline and be unconcerned with the results, assuming your plan has an edge.
6. Seek feedback. Find a mentor, coach, or a trading community. Fixing your faults alone is the least effective way to go if it works at all.
Our team day-trades multiple strategies with edge in a live online environment. Feedback is freely given to help everyone improve. 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