Today’s Best S&P Futures Turning Points: Buy 5185.25 stop 5181.75. Short 5249.50 stop 5253.50. 

Monday’s results: Shorting 5206.50 triggered at the close of the cash market and wasn’t taken. If you converted it to a swing trade it was only worth 4.25 points. 

The World Index: (+100/-100) drops from +60 to +29 as the Bullish sentiment fades on lower volatility.  

Catalysts: Fed’s Kashkari @ 11:30. 

Quick Tip: Intuition

The best way to start trading is to have a plan with an edge and the discipline to execute without emotion. 

Once you’ve arrived there you will have considerable experience and that leads to intuition. The interplay between these two can often be the difference between a profitable trade and a significant loss.

Experience is gained through considerable time observing markets, making trades, witnessing cycles, and understanding economic indicators. 

...

Today’s Best S&P Futures Turning Points: Buy 5065.00 stop 5059.25. Short 5142.00 stop 5146.50.

Thursday’s results: The buy at 5054.25 stopped out. 

The World Index: (+100/-100) soars from +8 to +60 with the all open major markets Bullish.

Catalysts: Non-Farm Payrolls @ 8:30. Final Services PMI @ 9:45. ISM Services PMI @ 10:00. 

Quick Tip: Trading Styles

Yesterday you chose your primary asset class to be trained in, stocks, options, futures, or Forex. During that training you’ll be learning a rule-based trading strategy. (If you missed the prior blogs click here to read them). 

The best way to get started trading is to have specific rules to follow. Entries and exits. Position size. Risk management. All these rules combined are your strategy. Eventually you’ll have more than one strategy but to start it’s best to focus on mastering one. 

Strategies can be lumped into basic...

Today’s Best S&P Futures Turning Points: Buy 5054.25 stop 5049.50. Short 5127.75 stop 5132.25.

Wednesday’s results: The short at 5092.50 was filtered out during the FOMC volatility. 

The World Index: (+100/-100) soars from -50 to +8 with the open major markets mixed on lower volatility. 

Catalysts: Jobless Claims & Trade Balance @ 8:30. Factory Orders @ 10:00. AAPL reports after the close. 

Quick Tip: What to Trade

Yesterday you determined your time and starting capital commitments. Next is the asset class you’ll trade. (If you missed the blog click here).

Best choices… 

Position Traders (weekly time commitment): Stocks (high capital requirement) and Forex (low capital).

Swing Traders (daily time commitment): Stocks (moderate capital), options, Forex, and futures (all low capital).

Day Traders (hourly time commitment): Stocks...

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...

Today’s Best S&P Futures Turning Points: Buy 5082.75 stop 5078.25. Short 5176.00 stop 5181.75. 

Monday’s results: Neither trade setup triggered.  

The World Index: (+100/-100) plummets from +50 to -7 with mixed sentiment and lower volatility.  

Catalysts: Employment Cost Index @ 8:30. Housing Price Index @ 9:00. Chicago PMI @ 9:45. Consumer Confidence @ 10:00. AMZN/AMD earnings after the close. Waiting on FOMC. 

Quick Tip: Fix FOMO

Fear Of Missing Out (FOMO) in trading is the anxiety from the thought that others are winning while you’re on the sidelines. 

While your trade plan has entry rules to follow that should eliminate FOMO, it’s hard not to feel it when an asset or the market is soaring or plunging and you’re idle. 

FOMO breeds impulsivity and that usually means extra risk you shouldn’t accept. 

Solve this by having an abundance mentality....

Today’s Best S&P Futures Turning Points: Buy 5082.75 stop 5078.25. Short 5176.00 stop 5181.75. Both are filtered out during the PCE news release @ 8:30 ET

Thursday’s results: The buy at 5048.50 was filtered out due to the GDP release volatility but did bounce for a quick 12-points. 

The World Index: (+100/-100) soars from -14 to +64 with all major world markets firmly Bullish. 

Catalysts: Core PCE Price Index, Personal Income & Spending @ 8:30. Revised UofM Consumer Sentiment @ 10:00. MSFT & GOOG earnings strong.

Quick Tip: Three Q’s

The best formulas for success are simple. 

One of my favorites on decision making, which applies to trading very well, comes from Keith Cunningham, author of The Road Less Stupid: 

1 – What is the upside? 

2 – What is the downside? 

3 – Can I live with the downside? 

This ritual can be accomplished instantly with a little practice....

Today’s Best S&P Futures Turning Points: Buy 5048.50 stop 5043.25. Short 5109.25 stop 5115.00.

Wednesday’s results: Neither trade triggered. 

The World Index: (+100/-100) plunges from +64 to -14 with most major world markets turning Bearish. 

Catalysts: Jobless Claims & GDP @ 8:30. Pending Home Sales @ 10:00. META plunges on lower revenue forecast and higher AI investment expenses. MSFT & GOOG report after the close. Let's hope this isn't a Hat Trick. 

Quick Tip: Smart Money

The reason it’s not called “Lucky Money” is because the success of these traders isn’t based on luck. It’s based on knowledge and high probabilities. 

For stock and options traders there are two proven ways to find Smart Money buyers and ride their coattails. Free training available! Click here. 

Tired of day trading alone and guessing what to do next? Join our team. You can learn...