Results of Friday’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 4870.50 stop 4866.25. Short 4867.00 stop 4871.25 if price falls below and retraces back. 

The World Index: (+100/-100) eases from +21 to +7 with China/HK dragging down an otherwise moderately Bullish world. 

Catalysts: Nothing important on the economic calendar. Presidential race gets narrower.

Quick Tip: Mindset

You probably noticed that the Turning Points shared here frequently don’t trigger. Sometimes a few days can go by without a trade. 

You may be thinking, “This is not enough action for me.” 

On the contrary, this strategy provides far more setups than are freely shared, we’re just trying to get acquainted! Add in the reversal and momentum strategies and there are dozens of opportunities every trading...

Results of Wednesday’s Best S&P Futures Turning Points: Neither trade level triggered. 

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

Buy 4767.25 stop 4761.50. Short 4797.50 stop 4800.75.

The World Index: (+100/-100) soars from -86 to +50 with most major world markets solidly Bullish. 

Catalysts: Jobless Claims, Philly Fed MFG Index, Building Permits, and Housing Starts @ 8:30. Crude Oil Inventories @ 11:00. Fed’s Bostic @ 11:30. World Economic Forum in Davos (all week).

Quick Tip: Think Risk First

You might be thinking, "Aren't we trading for the profits?" Yes, however, in the long term a well-structured risk management plan should outweigh the short-term profits you stand to gain.

Why? Trading is a marathon, not a sprint. Your goal is not just to gain high returns in the short run, but to sustain profitable trading over a long period.

...

Results of Friday’s Best S&P Futures Turning Points: Shorting 4752.00 stopped out. Buying 4701.75 missed filling by one tick, a 50-point runner .

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

Buy 4701.75 stop 4696.00. Short 4780.00 stop 4785.75.

The World Index: (+100/-100) improves from -43 to -29 with Asia more Bearish than the west. 

Catalysts: Fed’s Bostic speaks @ 12:00 PM. 

Quick Tip: Discretion

If you look back to Thursday’s blog (click here for all 500+ issues) you’ll notice the suggested Buy was 4704.00, same as today. Looking at Friday’s blog you’ll see the suggested Buy was 4701.75. 

Why did I change the entry by such a small amount? 

The high-volume that creates these levels offer entry ideas. Sometimes other information is available suggesting you adjust your entry. They could be rules from another...

Results of Wednesday’s Best S&P Futures Turning Points: Neither suggested trade level 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 4780.00 stop 4785.75.

The World Index: (+100/-100) jumps from -58 to +14 in a world of mixed sentiment and lower volatility. 

Catalysts: ADP Employment Change @ 8:15. Jobless Claims @ 8:30. Final Services PMI @ 9:45. Crude Oil Inventories @11:00.  

Quick Tip: Open to Change

Last year change I wrote a blog on being “open to change.” The idea came from an article I read about five top Wall Street traders’ thoughts on how to deal with disruption in the markets. There were plenty of differences between them including chosen asset class, style, strategy, all the typical things. 

There was one huge commonality, though. They all stressed keeping an open mind....

Results of Tuesday’s Best S&P Futures Turning Points: The levels yesterday were not updated from the day before (error) and were non-tradable.  

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 4814.25 stop 4820.00. 

The World Index: (+100/-100) stays at -58 with the major world markets Bearish on increasing volatility.   

Catalysts: Fed’s Barkin @ 8:30. ISM MFG PMI & JOLTS @ 10:00. FOMC Meeting Minutes @ 14:00. 

Quick Tip: No FOMO

Seasoned traders spend time on the review process. They document every trade their strategies set up, taken or not. They compare their results (behavior) to their plan. This is an excellent way to improve incrementally and get more disciplined and confident. 

There is a “downside” you’ll need to handle, though. Since you can’t take every trade every day and...

Results of Friday’s Best S&P Futures Turning Points: Shorting 4821.50 delivered 14.00 points to the buy level at 4807.50, which didn’t fare as well only offering a 4.25-point bounce. 

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 4821.50 stop 4827.25 if price closes below and retraces to fill. 

The World Index: (+100/-100) plummets from +21 to -58 with the major world markets Bearish on increasing volatility.   

Catalysts: PMI Final @ 9:45. 

Quick Tip: Expectations and Reality

People are impressionable. Sometimes that can be a problem. We can have great expectations that don’t match up with reality. A perfectly fine trading result can seem like a failure after experiencing a big win. 

Here’s an example. Let’s say the first time you traded the levels shared in this blog your first...

Results of Thursday’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 4821.50 stop 4827.25 if price closes below and retraces to fill. 

The World Index: (+100/-100) rises from zero to +21 in a mildly Bullish world with low volatility. 

Catalysts: Chicago PMI @ 9:45. 

Quick Tip: Optimism & Pessimism. 

Can they co-exist? Should they? Yes, but on different levels. 

Starting the New Year, it’s common to set goals. You want to be optimistic about your trading, career, family, and the state of the world itself. It would be wasteful and unnatural to be pessimistic. 

Those positive goals you set are in your “big picture.” Where you want to be a little pessimistic is in the details. 

How are you going to achieve your goals? You...

Results of Wednesday’s Best S&P Futures Turning Points: : Buying 4798.00 stopped out. 

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 4822.25 stop 4826.50 

The World Index: (+100/-100) drops from +7 to -14 with the major markets mixed. S&P futures Bullish.

Catalysts: GDP, Jobless Claims, and Philly Fed MFG Index @ 8:30. 

Quick Tip: Never Stop…

…learning! 

If the market is a mirror that reflects your character flaws, then trading is the journey of self-improvement.

You’ve no doubt read books, enrolled in courses, hired a mentor, listened to podcasts, read blogs, and watched countless videos on HOW to trade the markets. You’ve educated yourself with all the information you needed to complete a personalized trade plan. 

Is it working for you? Are your trading results right on...

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....

Results of Friday’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 4769.00 stop 4765.25. Short 4800.50 stop 4805.50 (Buy the breakout if this short fails). 

The World Index: (+100/-100) reverses from +29 to -21 with most major world markets mildly Bearish. S&P futures are not. 

Catalysts: NAHB Housing Market Index @ 10:00. 

Quick Tip: Consistency

Here’s an important quote from Dr. Brett Steenbarger, author of many books on trader psychology and an accomplished S&P futures day trader:

“You are most likely to become consistent IN your trading if you are consistent in working ON your trading.” 

How? Preparation and review. Sports teams do this. Prepare for the opponent, play the game, watch the video reviews. 

Are you preparing...