Trade Aptitude

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. Be willing to change. Markets change. Technologies change. Laws change. Governments change. 

Change is not always easy, though. We can get into a comfort zone and not want to leave. But we must if we’re going to grow our trading skills. We need to embrace the discomfort of change. 

Here’s an example of why it’s so important. Nearly 4 years ago, The Daily Market Forecast was born. We started day trading one asset, the S&P futures, using one proprietary strategy, Volume Profile. 

Fortunately, we have many very skilled traders in our membership. Everyone is encouraged to share ideas, successes, failures, anything that might help us improve. We call it Team Trading. 

Because of that collective “open mind” and “willingness to change” we’re now trading multiple proven strategies across several assets and timeframes. We’ve developed and distributed numerous customized technical indicators to make our trading safer and easier. 

We’ve expanded into standalone software development with the release of InsidersEdge and Pro+Options (for unusual options activity). The swing trading results using these two “leading” indicators last year was phenomenal. 

That’s a huge change! But it didn’t happen all at once. Change is best digested one step at a time. Embrace it!

Tired of trading alone?  Our team day-trades multiple strategies with edge in a live online environment. Join us, learn the strategies, and trade live with us daily for 30 days. Money back if you’re not blown away! 

Trade Fearlessly,

Mike Siewruk

P.S. Forward this blog to your trading buddies. Share in the wealth!