Trade Aptitude

Results of Friday’s Best S&P Futures Turning Points: Buying 4228.50 filled in the Globex last night and stopped out. 

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 4261.50 stop 4267.25.

The World Index: (+100/-100) eases from -64 to -57 with all major world markets Bearish.

Catalysts: Nothing on the economic calendar. Treasuries hit 5%. Risk-off mood. 

Quick Tip: Cousin DOMO

Fear Of Missing Out, FOMO, is a negative emotional reaction traders have before they enter a trade. Price is gaining momentum and you’re on the sidelines. Impulsively, you break your entry rules and chase the trade. 

The problem with chasing is regardless of the outcome, win or lose, you lose psychologically. The wins only reinforce undisciplined trading. 

The best way to overcome FOMO is to have an abundance mindset. The markets are a never-ending parade of opportunity. If you know there will be many great setups coming soon then the fear of missing the current trade fades. 

There is a subtle variation of this I’ll call DOMO, Disappointment Of Missing Out. This reaction occurs after the trade you should have taken is over. You missed a big winner. It fit your rules perfectly. For whatever reason, you weren’t there to take the trade. 

The solution is the same: have an abundance mindset. The best way to have that is by trading multiple assets or strategies. Stock traders with a hot list have plenty of abundance. Futures traders have far less to choose from, making multiple strategies a clear and logical alternative. 

Try trading futures with abundance! 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.