Trade Aptitude

Results of Wednesday’s Best S&P Futures Turning Points: : Neither trade 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 4800.50 stop 4805.50 (aggressive traders only, shorts are riskier today. We have no remaining volume levels above this). 

The World Index: (+100/-100) eases from +43 to +29 with most major world markets mildly Bullish.

Catalysts: Empire State MFG Index @ 8:30. Industrial Production @ 9:15. Flash MFG & Services PMI @ 9:45. 

Quick Tip: One Question Quiz

Think for a moment before you answer this question. Do you find it harder to take a loss or a profit? 

The answer says a lot about your trade plan, style, trading psychology, and what you need to work on. 

If your answer was a loss, then your risk management plan needs help. You might be trading the wrong strategy, possibly one with more losers than winners or large losers. 

If your answer was a profit, then your risk management is fine, but your open trade management needs work. You might suffer from FOMO. 

If your answer was neither, you’ve arrived at a high level of trading skill. Congratulations!

I recall early in my trading career I was bothered by the losses. After adjusting my trade risk to fit my risk tolerance I saw improvement in confidence and results. 

But then I was bothered by the profit decision. How much was enough? I’d be disappointed at how much I was leaving on the table by choosing the exit in advance. 

Eventually, I overcame the greed and FOMO by focusing on open trade management and having abundance in trade opportunities. There was always another trade around the corner. Why should I care about what I didn’t get? 

I’ve found this sequence is common with other traders. Be honest with yourself and start working on the fix for where you’re at. 

Our team day-trades multiple strategies with edge in a live online environment. We practice solid risk management and focus more on solid open trade management. 

 Join the team, learn our strategies, and trade live with us daily for 30 days. New lower rate available now. 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!