Trade Aptitude

psychology trade planning Jul 02, 2024

Today’s Best S&P Futures Turning Points: Nothing tradeable today.  

Monday’s results: This strategy is on hold... but is improving and likely out of the drawdown soon. 

The World Index: (+100/-100) plummets from +50 to -14 most of the world leaning Bearish on modest volatility.  

Catalysts: Fed’s Powell @ 9:30. JOLTS @ 10:00.  

Quick Tip: Need to Know

Curiosity leads to learning and discovery. We want to know the “what, why, how, when & where.” 

All good. Except in day trading. 

Any time you see the price plunge or skyrocket on high volume your first impulse is to find out why, what happened?

But does it matter? As a day trader your setup likely lasts less than an hour. Do you need to understand the reason if you’re only trading price action? Do you even have the time to find out? 

If you’re a day or short-term trader the better time to be curious is during your review process. You have the time to do proper research then. In fact, it’s essential to be very curious during review. You might find an edge you didn’t notice before. 

During live trading just follow the rules. Afterward, invest the time to find meaningful evidence to improve your plan.

We have two teams at The Daily Market Forecast. Futures day traders and Stock/Options swing traders. Click your style and learn more. 

Trade Fearlessly,

Mike Siewruk

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


Thanks for joining The Daily Market Forecast Community!

You'll receive an email shortly to verify your FREE enrollment