Trade Aptitude

Friday’s Best S&P Turning Points Results: The suggested buy level ran for 35.75 points MFE and 26.50 at the close. Maybe. 

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

Short 3993.00 stop 3998.75. Buy 3922.50 stop 3917.75. 

Globex View: Trending down from the open still inside Friday’s range.  A breakout below 3942.50 gives you 20.00 points to the suggested buy. 

The World Sentiment Index: (+100/-100) DROPS from +21 to -36 in a bearish leaning world.  Historically price closes HIGHER than the open 56% of the time. 

Catalysts: Nothing on the economic calendar. China locks down again leading the Global selling.   

Quick Tip: Finesse your Stop

The trade ideas presented here are based on volume-at-price setups that have been perfected over thousands of trades. Suggested stop placement is always offered with the caveat that you should consider wider stops (possibly less size) when price is volatile. Friday is a great example and why I wrote “Maybe” posting the result above. 

If you’re paying close attention to these setups you’ll know that the maximum risk taken with this strategy is 5.75 points. There is hard evidence for that. 

The suggested stop for Friday’s buy was 3.75 points. Given the current volatility widening the stop would make sense and paid off handsomely as the adverse move was only 4.50 points. 

Alternatively, you might have left the stop tight and traded the re-entry, which worked two more times. 

Just like there is no “one and only way” to trade, you should be flexible with your entry/exit style. Knowing the style that resonates with you can only be discovered through practice in various market conditions. 

In fact, here’s a good practice lesson: Start logging each of these setups every day and adjust the entry and exit to your liking. Document the results. If you find significant improvement and choose to share it, I’ll give you free access to our Live Trading room!

Trade Fearlessly,

Mike Siewruk

P.S. If your strategies have proven edge and your results are spotty then you need to change your behavior. Click to learn how.



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