Trade Aptitude
Results of Friday’s Best S&P Futures Turning Points: No trade triggered in another narrow day.
Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets):
Buy 5242.00 stop 5236.25. Short 5314.50 stop 5320.25.
The World Index: (+100/-100) jumps from -50 to +36 with most major world markets mildly Bullish.
Catalysts: Durable Goods @ 8:30. Home Price Index @ 9:00. Consumer Confidence & Richmond MFG Index @ 10:00.
Quick Tip: Your Behavior
Imagine starting in trading without any historical information. No price charts. No patterns to study. No economic information. No annual reports. What would you use to determine if it was time to buy or sell?
Thankfully, we needn’t dwell on that question at all. We have incredible historical information available that we can research for potential edge in our trading. The fact is that historical information is not a perfect predictor of the future. We can’t control the market.
The future we can control is our behavior. The result of every new day, every new trade is mostly controlled by how we behave. Were we disciplined following our rules? Were we emotional about wins and losses? Were we prepared? Were we curious about improvements?
While we depend on past trading to give us an edge, that edge is only as good as how we act in present time. Focus on yourself. Read good books like Dr. Woody Johnson’s Secrets of the Peak Performance Trader, and others about trader psychology. Learn and practice the tools provided. Spend more time on controlling what you can… your behavior.
Tired of trading alone and guessing what to do next? Join our team. You can learn the strategies and trade live with us daily for 30 days. Money back if you’re not blown away! Open enrollment ends this month. Take advantage of the final days of this promotional price.
Trade Fearlessly,
Mike Siewruk
P.S. Here's a gift for you: Send me an email, mike@thedailymarketforecast.