Results of Monday’s Best S&P Futures Turning Points: Neither level triggered and remain on the chart.
Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets):
Buy 4118.25 stop 4115.25. Short 4186.75 stop 4190.50.
The World Sentiment Index: (+100/-100) PLUMMETS from +64 to +14 in a world of mixed sentiment and low volatility.
Catalysts: Retail Sales @ 8:30. Industrial Production @ 9:15. Business Inventories & Housing Market Index @ 10:00. Scattered Fed-Speak. Debt ceiling updates.
Quick Tip: Disagree?
In Stephen Covey’s bestseller, “The 7 Habits of Highly Effective People”, the 6th habit is Synergize. The concept of synergy is real and born in nature. You’ll need to read the chapter (the whole book would be better) to get all the details and proof. Just assume it’s true for now.
Think about this: If everyone you talked to agreed with you about the subject at hand, would there ever be any improvement to the subject (process, strategy, plan, etc.)? Nope. Case rested. We agree. Move on.
That is precisely why you should embrace disagreement… from a constructive viewpoint. Different opinions and outlooks, when approached properly can lead to dramatic improvements. It’s obvious. No one knows it all. Only by being open-minded and willing to understand a counter viewpoint does the process of synergy start. A healthy dialog afterward will result in improvement.
This is also precisely why Team Trading works so well. Our team consists of dozens of traders who all want the same thing… consistent profitable strategies. These same traders are not always in agreement about HOW to get there. But being open-minded enough to understand each other’s views can lead to improved strategies and trade plans.
For example, our best performing strategy currently is intraday trend. The rule to tighten the stop loss order is after the first profit target is filled. One of the traders on our team noticed when price came close to the target but didn’t fill, most of those trades stopped out with the original larger loss. Constructive disagreement.
Our team day-trades multiple strategies with edge. Join us, learn the strategies, and trade live with us daily for 30 days. Money back if you’re not blown away!
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