Trade Aptitude

 Results of Friday’s Best S&P Futures Turning Points: Neither trade triggered. 

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

Buy 4307.50 stop 4303.25. Short 4388.00 stop 4392.75. 

The World Sentiment Index: (+100/-100) lifts from +7 to +36 with all major world markets neutral or mildly bullish on low volatility. 

Catalysts: Nothing on the economic calendar. Waiting on CPI & FOMC. 

Quick Tip: Quick Tip: Trader or CEO?

You should manage your trading like you would a business. Even if you’re employed, think of it as a side business. You’re unlikely to have employees in your trading business and that means you need to wear different “hats” to be successful. At times you will need to act the roles of CEO, CFO, and Trader. 

The CEO creates the vision then ensures it becomes a reality. You are constantly learning and considering strategy changes. You are the author of the trading plan, documentation, and review processes (not the executor). You are not mired in day-to-day performance. Your focus is on learning, long term growth, and goal attainment. Spend some time developing a written vision statement and goals (within your trade plan). Read them frequently when you’re wearing your CEO “hat” and especially when you’re facing performance challenges. This is great work to perform on the weekend, free from distraction of your other “hats.” 

The CFO manages the money. Profits and losses. With trading this can be a daily job. The CFO mindset is critical during the documentation and review process. The output is more than numbers on a spreadsheet and tax returns. You’re analyzing the strategies to find improved “edge” in the trading rules and hand them to the Trader for execution. The CFO is objective and unemotional.

The Trader is the low-level employee!  You are solely responsible for completing trade execution without concern for results. Your “policy manual” is the trade plan and edge documents handed down by the senior executives. 

OK… I know this sounds like a version of multiple personality disorder but if you have the correct mindset for each task and take the responsibility of each “employee” seriously, your vision and goals will manifest.

Trade Fearlessly,

Mike Siewruk

P.S. I uncovered some “hidden” research that reveals the ONE SIMPLE THING you can do to skyrocket your trading results. Join me on Wednesday June 14th @ 2PM ET to learn this simple, yet highly effective research-backed technique. Click here to save your seat.