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Today’s Best S&P Futures Turning Points: Buy 5004.75 stop 5000.25. Short 5092.50 stop 5097.50 (filtered out during FOMC from 14:00 to 15:00).
Tuesday’s results: Buying 5082.75 stopped out.
The World Index: (+100/-100) plummets from -7 to -50 with most major world markets Bearish.
Catalysts: ADP Employment @ 8:15. S&P MFG PMI Final @ 9:45. JOLTS, ISM MFG PMI @ 10:00. Crude Oil Inventories @ 10:30. FOMC Rate Decision @ 14:00 and Press Conference @ 14:30. AAPL reports after the close.
Quick Tip: Time First
A friend told me he wanted to start trading and asked what he should trade, stocks or cryptos.
The asset you choose to trade is not decision #1. Your first consideration must be time. How much time do you have and want to commit to trading?
A retired empty nester has all the time (and likely money) to trade whatever she wants. Her brother who is still working 50 hours a week and raising a family is far more limited in selection.
After you know your time commitment, decision #2 is your starting risk capital. This is money you can afford to lose both financially and psychologically.
Combining the time you have available and the capital you’re willing to risk guides you to the correct asset class and style of trading. Tomorrow we’ll explore those decisions.
Tired of day 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! Take advantage of the final days of this promotional price.
Trade Fearlessly,
Mike Siewruk
P.S. Feel free to pass this along to your trading buddies. Share in the wealth!
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