Trade Aptitude

Today’s Best S&P Futures Turning Points: Nothing tradeable today.  

Thursday’s results: This strategy is on hold. 

The World Index: (+100/-100) plummets from +21 to -43 with mosrt major world markets Bearish on increasing volatility. 

Catalysts: Flash MFG & Services PMI @ 9:45. Existing Home Sales @ 10:00.

Quick Tip: Being Different

Here’s a great quote from Earl Nightingale: “If you set out to be successful at something and you don’t know how to do it, look around at what everybody else is doing, and don’t do that…”

This is especially true with trading. If everyone traded the same way there would be no counter parties. We need plenty of different styles and opposing viewpoints for the markets to exist. 

If you’re still struggling it’s a good idea to stop trading live money and start looking at alternative trading styles. Be open-minded. I’ve met too many traders over the past 24 years who are fixed on one way to trade because that’s what they started doing. 

Think of your prior investment in trading education as a trade. Some winners, some losers. 

I’ve personally invested a small fortune in trading education. And here’s a surprise, I still do. I invest in myself every month. Some of the strategies, books, and courses are worthless. I consider them small losses. Some are enlightening and have great potential. I consider them winners. Just like trading. 

Getting back to Earl’s quote, what you want to find is a style and strategy that has edge, but not too many people are doing it. You want something proprietary. Granted, with tens of millions of traders out there nothing is truly unique. But nearly so is a good thing. 

If you’re interested in swing or position trading stocks and/or options, you should watch this training session I recorded recently. I demonstrated two leading indicators of stock price that are unique enough to get you a solid edge. Click here. 

Trade Fearlessly,

Mike Siewruk

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