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...

Thursday’s Blog Results: Your suggested entries didn’t trigger. The profile was wide open due to the rapid drop after the FOMC announcement.

Today’s Trading Tip:  Volume redefined.     

In technical trading there are only a few variables to consider: price, volume, and time. Every technical indicator or method is derived from variations of these variables.

Most traders look at volume within a time interval. They see volume in a histogram at the bottom of the chart. Good to know.

The chart above flips the volume from the time axis to the price axis. Now you see the volume at specific prices. Much better to know.

Why? Large traders (institutions) approach buying and selling different than you and I. When we want to buy or sell we click a mouse and it’s done. Our position size is small.

Large traders can’t do that. They need to accumulate and distribute their positions in their chosen price ranges.

Let’s say you consume...

Wednesday’s Blog Results: Your suggested buy at 4742.50 was only good for a 6.75-point scalp BUT you shouldn’t have taken the trade.

Today’s Trading Tip:  Stand back.    

Traditional work, your job, your career, your profession, all make becoming a winning trader difficult. Not because of the time devotion, because they instill a belief that is NOT helpful in trading.

What is it? Doing something. Can you imagine if you were caught doing nothing and told the boss “Now is not a good time to be working on this.” Or “Thursdays are difficult days to get anything done, so I’m going to loaf.”

In trading NOT entering a trade is not only OK it’s smart. There are times when the probability of success is low. Don’t trade. Unlike your job, doing nothing is completely acceptable.

Look at yesterday. The FOMC Minutes came out at 2PM ET and the volatility soared. The initial reaction was a 13-point bounce higher....

Tuesday’s Blog Results: No free trades triggered. Team members saw another great Globex session with a breakout to all-time-highs running for 15.50 points.

Today’s Trading Tip:  Puzzle solved.

Being curious and constantly learning is critically important to your trading… and your longevity! Resolve to get in this habit:

1. Choose a trading topic you know little about.
2. Research it thoroughly using the Pomodoro Method.
3. Act (trade) on your new-found knowledge
4. Journal every trade.
5. Review and improve your skill.
6. Start the process over again with a new topic.

Too busy to get started right now? I’ll do it for you. Email me the topic you’re curious or confused about and I’ll share the results in a future blog post.

Today’s Best S&P Futures Turning Points:  

Short Level: Sell 4800.50 stop 4805.50.

Long Level: Buy 4742.00 stop 4739.00. Same as yesterday.

Happy New Year!

Mike Siewruk

P.S. Tired of trading alone? Need more quality...