Results of Wednesday’s Best S&P Futures Turning Points: No trades triggered. 

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

Buy 4807.50 stop 4802.25. Short 4803.00 stop 4802.25 if price closes below and retraces to fill. 

The World Index: (+100/-100) plummets from +57 to zero with China/HK very Bullish and the west mildly Bearish. 

Catalysts: Jobless Claims @ 8:30. Pending Home Sales @ 10:00. Crude Oil Inventories @ 11:00. 

Quick Tip: Your Equity Curve 

If you’re a regular reader you know that one of the most important components of your trade plan is the documentation and review process. 

Every day you’re logging trades results, whether you took the trade or not. You’re scanning your thought journal for confirmation that you’re improving your discipline and holding emotions in check. 

The year is almost over. Now it’s time to review your entire trade plan noting any changes you need to make for a more successful 2024. 

A...

Results of Tuesday’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 4798.00 stop 4794.50. No shorts suggested. 

The World Index: (+100/-100) drops from +29 to +7 with the major markets mixed. 

Catalysts: Consumer Confidence & Existing Home Sales @ 10:00. Crude Oil Inventories @ 10:30. Fed’s Goolsbee @ 12:00. 

Quick Tip: Trade Plan Updates

In your trade plan you’ve established a set of rules that when followed, show a positive outcome (if not, get it done). 

Most trade plans start simple. When to enter and exit. Which asset to trade. Which tools to use. How much to risk. 

That’s a good start but the real meaty rules come from live trading experience. We can’t possibly consider all outcomes and influences in the beginning. We need to trade live, observe, document, and mine the data for new rules to improve. This means your trade plan is a living document. It sho...

Results of Monday’s Best S&P Futures Turning Points: : Shorting 4800.50 caught the high of the session and ran for 8.50 points to the close. If you were swing trading it’s still open ranging below the level. 

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

Buy 4769.00 stop 4765.25. Short 4783.50 stop 4787.25 if price drops below and retraces back. 

The World Index: (+100/-100) reverses from -21 back to +29 in the major markets mixed. 

Catalysts: Building Permits & Housing Starts @ 8:30. Fed’s Barkin @ 9:30, Bostic @ 12:30. 

Quick Tip: Trade Less 

Doctors heal. Lawyers argue. Artists create. In those and other professions if you’re not doing something you’re not productive.  

The same doesn’t apply to Traders, however. You don’t have to trade all the time to be a productive, successful Trader. You don’t have to trade every setup, or day, or week. In fact, trade selection or filtering is important and necessary. 

Trading succe...

Results of Wednesday’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 4704.00 stop 4699.25. Short 4800.50 stop 4805.50 (aggressive traders only, shorts are riskier today. We have no remaining volume levels above this). 

The World Index: (+100/-100) eases from +43 to +29 with most major world markets mildly Bullish.

Catalysts: Empire State MFG Index @ 8:30. Industrial Production @ 9:15. Flash MFG & Services PMI @ 9:45. 

Quick Tip: One Question Quiz

Think for a moment before you answer this question. Do you find it harder to take a loss or a profit? 

The answer says a lot about your trade plan, style, trading psychology, and what you need to work on. 

If your answer was a loss, then your risk management plan needs help. You might be trading the wrong strategy, possibly one with more losers than winners or large losers. 

If your answer was a profit, then your r...