Trade Aptitude

Results of Friday’s Best S&P Futures Turning Points: Neither trade triggered with the short @ 4415.00 missing fill by 3 ticks, then running for 30 points.  Both levels remain on the chart. 

Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets): 

Buy 4285.75 stop 4280.00. Short 4415.00 stop 4419.50.

The World Index: (+100/-100) jumps from -36 to +36 with most major world markets Bullish. 

Catalysts: Retail Sales @ 8:30. Industrial Production @ 9:15. Fed-speak @ 8:00 & 9:20. Earnings heat up. Israeli war updates.

Quick Tip: Four Choices

All the money is made or lost in the exit. Significant research, documentation and review is essential to finding what works best for your style. 

One exit we find productive in our trading room is a counter signal from a different strategy. Let’s say you’re profitably long using a trend strategy and your reversal strategy is signaling short. You have 4 choices:

1. Ignore the reversal signal. 

2. Exit your entire position.

3. Scale out of your position.

4.  Exit and take the new reversal signal. 

Whichever you choose, have supporting evidence. That will come from your documentation and journal. 

Are you stuck trading only one strategy? Join our team. You can learn multiple strategies tuned for different market conditions and trade live with us for 30 days. New reduced price offer. Money back if you’re not blown away!

Trade Fearlessly,

Mike Siewruk

P.S. Feel free to share this newsletter with your trading buddies.