Friday’s Blog Results: The suggested short @ 4469.50 was a beautiful 39.75-point runner to the next level. How much did you get?

Today’s Lesson: How to find your “risk number.”

There is a popular risk management tool that uses a fixed percentage of your account size to determine per-trade risk (and ultimately position size). It’s simple to use and highly effective. Here’s how it works:

Account size: $10,000

Fixed Percentage: 2% (your choice up to 2%, higher is rarely suggested).

Per Trade Risk: $200

Stop Loss: $100

Position Size (contracts): 2

So why is this formula so effective? Because as your account grows the Per Trade Risk grows allowing you to trade larger size. Conversely, if you’re in a drawdown the Per Trade Risk will be less limiting your position size.

In fact, just to put it in perspective for you, using the numbers above you would have to endure 35 losing trades IN A ROW to hit your “no-trade limit” (less than $100...

Thursday’s Blog Results: Plenty of range yesterday! The suggested short @ 4565.25 stopped out. The suggested long @ 4494.75 bounced for 10.75 points BUT fill was an issue… the MES contracts touched the level, the ES did not. If you missed it, which was likely, reframe your thinking: Volume Levels work fine, we can’t always get filled.

No problem with fill last night in the Globex session. Team members had the above chart planned ahead and received by 5:15 PM ET. Both trades were ideal set/forget entries making for a VERY pleasant morning today!

Today’s Trading Tip: You don’t know.  

We love to know. It’s natural to want to know “why,” “when,” and “where.” One problematic personality type I’ve met over years in trading education is the person who NEEDS to know with certainty. Trading is a game of probabilities, not certainties. Check yourself when you start getting anxious about not...

Wednesday’s Blog Results: The “alternative” long entry worked like a charm for a quick 14.75-point run. How much did you bank?  

Today’s Trading Tip: The weather report.

Years ago, the weather report was a big joke. Especially in Michigan where I grew up. Rarely did the forecast hold. Today, the technology exists to accurately forecast the weather. You wouldn’t think of washing your car today until you checked for foul weather. You wouldn’t blindly carry your umbrella every day either.

Forecasting the market has come a long way, too. It’s not nearly as good as the weather report but it can be helpful. The forecasting tools you can use for the market give you edge in probabilities. Not certainties. But that’s OK. Wouldn’t you rather have some probabilities guiding your trading than going in blind?

Our trading team follows a detailed forecast for both the day and Globex sessions. They are different so the extra work is...

Tuesday’s Blog Results: Neither suggested level triggered during the day session.

Today’s Trading Tip: Have an open mind.

You have a rule-based plan with edge. If not, get one or quit trading. Rules in this case are meant to be followed. You want to be as machine-like as possible. Not easy for many of us, but that’s the goal.

Imagine that your plan is working fine. Your discipline following it is very good. Then you meet a trader who tells you there is a better way. Not a huge change to your plan, just a “tweak.”

What’s your reaction?

1. Nod politely, congratulate her on finding that “gem” and carry on doing what you’ve always done.

OR…

2. Get excited, immediately re-write your rules, and expect a big improvement.

You’ve probably met both types of traders. Fixed, disciplined, rarely willing to change and excitable, glib, and always changing.

Consider a middle ground. When you hear of a “better way”...

Friday’s Blog Results: Neither suggested level triggered.

Today’s Trading Tip: What’s your style?

With all the online trading education available now; blogs, podcasts, books, newsletters, video courses, tip sheets, live rooms, daily, weekly, monthly… you are SO LUCKY! Excess supply + limited demand = great value, they’re all a great BUY.

Except you’re not vetting them properly. You see, in trading there are TOO many ways to beat the market. Yup. You should know this because if everyone did the same thing no one would be on the other side of your trade! I would guess that most of these offers work just fine! But the abundance of strategies, indicators, and mentors can be more confusing than helpful.

Why? Because if you choose the wrong market, style, or strategy… the one that doesn’t resonate with your personality, it doesn’t matter how successful anyone else is trading it. You’ll fail. No need to start this way.

After 14...

Thursday’s Blog Results: The suggested buy level only ran for 8.25 points. How much did you get?

Today’s Trading Tip: On Vacation…back on Monday

Today’s Best S&P Futures Turning Points:

Short Level: Sell 4685.50 stop 4690.75.

Long Level: Buy 4552.25 stop 4546.50.

Trade well,

Mike Siewruk

P.S. Tired of trading alone? Need more quality setups? Learn how our team-based approach can accelerate your trading performance. Click here for FREE video training.  

Wednesday’s Blog Results: Neither suggested level triggered. The Team saw a secondary level fill (and become the low of the day) running for 24.75 points.    

Today’s Trading Tip:  On Vacation…

Today’s Best S&P Futures Turning Points.

Short Level: Sell 4777.00 stop 4781.75. (Same as yesterday).

Long Level: Buy 4684.75 stop 4679.00.

Trade well,

Mike Siewruk

P.S. Tired of trading alone? Need more quality setups? Learn how our team-based approach can accelerate your trading performance. Click here for FREE video training.  

Tuesday’s Blog Results: The suggested long level stopped out fast. The short level was never touched.  

Today’s Trading Tip:  On Vacation…

Today’s Best S&P Futures Turning Points.

Short Level: Sell 4777.00 stop 4781.75. (Same as yesterday).

Long Level: Buy 4652.00 stop 4645.25.

Trade well,

Mike Siewruk

P.S. Tired of trading alone? Need more quality setups? Learn how our team-based approach can accelerate your trading performance. Click here for FREE video training.  

Monday’s Blog Results: The suggested short worked for 32 points in the Globex session but didn’t re-trigger (valid) in the day session. Price collapsed and opened below the suggested long level.

Today’s Trading Tip:  On Vacation…

Today’s Best S&P Futures Turning Points.

Short Level: Sell 4777.00 stop 4781.75.

Long Level: Buy 4639.75 stop 4634.00

Trade well,

Mike Siewruk

P.S. Tired of trading alone? Need more quality setups? Learn how our team-based approach can accelerate your trading performance. Click here for FREE video training.  

Friday’s Blog Results: Your suggested entries didn’t trigger. 

Today’s Trading Tip:  What you forgot.     

Have you ever done something stupid and realized you knew that was the wrong thing to do (or say)? You knew it all along and for some reason you lapsed and momentarily forgot.

You might have experienced this feeling while learning. The coach says “this way is the best” and you think “I used to do that! Why did I stop!” Human nature. 

There was a beautiful 8:1 setup in our trading room on Friday (see chart above). This was a reversal entry and could have been set/forgot way before price ever came near the level.

This is something I repeatedly say during our live sessions. “Decide now and set your trades.” With futures orders being time-stamped at the exchange you’ll get more fills this way.

Did I set the trade? Nope. I saw price soaring up and tried to enter but it moved too quickly...