The Daily Market Forecast... expectations

Wednesday’s Blog Results: FOMC day paid out HUGE. Your suggested short @ 4443.00 caught the top of the session and ran for 98 points to the suggested buy at 4345.00 (which did see a 7-point bounce before stopping out). How much did you get?

Today’s Lesson: Expectations and reality.

People are impressionable. Sometimes that can be a problem. We can have great expectations that won’t match up with reality. A “good result” can look like a failure after a big win.

Here’s an example. Let’s say yesterday was the first time you traded the levels I share in this blog. Your first trade was a 98-point runner. Clearly you’d be ecstatic. What would your expectations be for future trade suggestions? If all you saw were 5 and 10-point winning trades for weeks on end you might be a bit disappointed. But those are more the reality.

This happened to me years ago when I started trading in the late 90’s. The strategy I found worked so well during the dot-com bubble that when volatility vanished it turned into a loser. My expectations were so high that trading other strategies for what were decent returns didn’t make sense to me. I wanted to find the next killer, big-money strategy. Needless to say, I churned my account and lost for quite a while. Eventually I found “reality.”

Enjoy the big days, weeks, months but keep grounded in reality.

Today’s Best S&P Futures Turning Points:

Short Level: Sell 4411.00 stop 4415.50.

Long Level: Buy 4208 stop 4203.50.  

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.  


Thanks for joining The Daily Market Forecast Community!

You'll receive an email shortly to verify your FREE enrollment