Trade Aptitude

Results of Thursday’s Best S&P Futures Turning Points: Buying 4431.25 stopped out. 

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

Buy 4412.50 stop 4407.50. Short 4482.75 stop 4486.50.

The World Sentiment Index: (+100/-100) jumps from -79 to -29 in a world leaning Bearish on lower volatility. 

Catalysts: Employment Report @ 8:30.  

Quick Tip: Greek Philosophy 

Not being knowledgeable in Greek philosophy I had no idea who Epictetus was. But a famous quote of his that I read is applicable to trading so I’m sharing: 

“Men are disturbed, not by the things that happen, but by their opinion of the things that happen.” 

What’s your opinion about losing? 

Losing happens in trading, sometimes in streaks. Reacting to it with destructive opinions (beliefs) won’t help. 

In your review process look at each loser carefully. You either followed the rules precisely or you didn’t. It was either meant to happen or your mistake. For the mistakes, journal the reasons. Scan this journal in your morning routine now and then to refresh your memory on what not to do.

Trade Fearlessly,

Mike Siewruk

P.S. July 4th week is a celebration of Freedom, why not invest in yourself and Free Your Mind? Our 6-module, 18-hour, online course on the psychology of trading, Secrets of the Peak Performance Trader by Dr. Woody Johnson, PsyD is available this week ONLY at 50% off. Click here for details.