Trade Aptitude
Results of Thursday’s Best S&P Futures Turning Points: Buying 4512.00 ran for 14.00 points.
Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets):
Buy 4485.75 stop 4482.00. Short 4598.50 stop 4605.50.
The World Sentiment Index: (+100/-100) jumps from -46 to +21 in a world of mixed sentiment and low volatility.
Catalysts: Employment Report @ 8:30. AAPL disappoints.
Quick Tip: Quick Tip: How to Diversify
The two primary methods to diversify your day trading are by asset or by strategy.
In other words, you can trade one strategy across many assets or one asset across many strategies. Neither is better for everyone. It’s a matter of personal style.
I recall one excellent equities day trader I worked with who only traded ONE stock (at the time it was Intel, INTC). He claimed his focus on one stock gave him considerable edge understanding how the market makers manipulated price and the times of day when the stock would trend or not. He was an accomplished technical trader and used several entry/exit strategies tuned to market conditions.
I know another excellent trader who trades one strategy across many futures contracts. He has extreme confidence in his rule set and applies it to price action on any asset. In fact, the famous Turtle Traders used this method of diversification to earn their boss, Richard Dennis, hundreds of millions of dollars.
Which method feels better to you?
Success in trading comes down to confidence and that is largely determined by how your trading style resonates with your personality.
The best way to decide is to invest the time simulated trading both methods. You can read about a trading style but you won’t really know if it’s your “cup of tea” until you execute the rules enough to decide.
You can accelerate your research by joining our team. Both methods are available to trade and traders on the team execute both. Click here for details. Money back if you’re not blow away!
Trade Fearlessly,
Mike Siewruk