Trade Aptitude

Today’s Best S&P Futures Turning Points: Buy 5184.25 stop 5179.00. Short 5296.25 stop 5300.75.

Friday's Results: No trades triggered. 

The World Index: (+100/-100) gains from -50 to +14 with most major world markets flat or modestly Bullish. 

Catalysts: Nothing on the economic calendar today.  

Quick Tip: Morning Routine

Preparing for your trading day is critical. You should have a routine you follow that includes the following:

Review Market News: Start by scanning major financial news outlets for any overnight developments that could impact the market. This includes economic data releases, geopolitical events, key corporate earnings reports, and news specific to the contracts you trade. 

Check Futures and Overseas Markets: Assess how global markets are performing by checking futures contracts for major indices like the S&P 500, Dow Jones, and Nasdaq. Also, review how overseas markets, particularly in Asia and Europe, have fared overnight, as this can influence sentiment and trading dynamics in the U.S. market.

Review Previous Day's Performance: Analyze how the market performed during the previous trading session. Look for patterns or trends that may carry over into the current day's trading.

Identify Directional Bias and Key Levels: Understand the higher time frame trend and market state for each contract you trade. 

Check Pre-Market Activity: Note any significant changes occurring to the market conditions as the trading volume starts to increase. 

Review Trading Plan and Strategies: Review your trading plan and determine which strategy will be your priority for current market conditions and that you're mentally prepared to execute it with discipline.

Prepare Workspace and Tools: Set up your trading platform, charts, news feeds, and any other tools or resources you'll need for efficient decision-making and execution during the trading day. Double-check that everything is functioning properly.

Stay Calm and Focused: Take a moment to center yourself mentally and emotionally before the market opens. Practice mindfulness techniques or relaxation exercises to reduce stress and maintain focus throughout the trading session. Remember to stay disciplined, patient, and adaptable to changing market conditions.

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Trade Fearlessly,

Mike Siewruk

P.S.  Feel free to pass this along to your trading buddies. Share in the wealth!