Tuesday’s Blog Results: Heartbreaker! The suggested long @ 4293 found the bottom of the session and ran for 102.50 points to the suggested short @ 4395.50 which was the top of the session and ran for 44 points to the close! Unfortunately, the buy only ran 11.25 points before stopping out and the short stopped out before running.
Today’s Lesson: Reframing.
You had the “top” and “bottom” levels of the market in your hands before the open. The day had a range of 126.25 points. How could you NOT make a killing? Stop placement was the cause yesterday.
How you react to this result, a modest winning day when you could have crushed it, is critical. Getting emotional and changing your rules to fit one event is not OK.
Instead, you should practice “reframing.” This is a simple technique whereby you change the event from negative to positive.
True that you didn’t get the big winning day, but the volume levels WORKED like a charm. This should be a confidence builder. Feel good about your strategy.
Today’s Best S&P Futures Turning Points:
Short Level: Sell 4443.00 stop 4447.50.
Long Level: Buy 4345.00 stop 4340.50.
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