Trade Aptitude

Results of Tuesday’s Best S&P Futures Turning Points: No trade triggered. 

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 (same as yesterday). 

The World Index: (+100/-100) drops from +36 to -14 with major markets mixed. 

Catalysts: Crude Oil Inventories @ 10:30.  

Quick Tip: Great Job

Your focus when trading should be on doing your job well. Don’t think that winning is good and losing is bad though. You can do your job well and still lose. Why? Because we have no control over the outcome, only our behavior. 

Here are your main “job” components as a trader: Research, practice, preparation, execution, and review. Your trade plan should be organized along these lines. 

There are plenty of analogies that compare traders with athletes, musicians, artists, and the military. These are all considered Performance activities. So is trading. Think about how much effort the successful of those occupations put into these same “job” components.

I’ve found the definitive work on this subject is in Dr. Brett Steenbarger’s book Enhancing Trader Performance. In fact, his publisher could have named it the Trader’s Bible, but there are too many similar titles out there. Read it, act on it, and watch your trading change for the better.

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.  Feel free to pass this along to your trading buddies. Share in the wealth!