Trade Aptitude

Results of Thursday’s Best S&P Futures Turning Points: Shorting 4471.00 stopped out. Buying the breakout ran for 21.50 points. 

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

Buy 4431.25 stop 4427.25. Short 4521.25 stop 4524.75.

The World Sentiment Index: (+100/-100) rises from +43 to +50 with Asia very Bullish and the west neutral. 

Catalysts: Final S&P Global MFG PMI @ 9:45. ISM MFG PMI & Construction Spending @ 10:00.  Short session today. 

Quick Tip: Decide Quickly?

Predictions and forecasts. Are they helpful in your trading or not? 

You could argue that the only thing that matters is price action in present time. Fair argument. 

But are you prepared for what price action is suggesting? Are you using the correct strategy for the current market conditions? Will today be a trending or range-bound day? 

It’s helpful to consider these questions before you get started. If the market changes character then you can change your outlook. But it’s good for your confidence to have an outlook from the start. 

I read a quote the other day that pertains. Nina DiSesa, named by Fortune magazine as one of the 50 most powerful women in American business (back in 2000) said “You can always correct a poor decision, but if you do nothing, you can never get the time back.” 

Invest some time understanding the context of the market you’re trading in before entering orders. Get in the habit of making decisions and if need be, correcting them quickly. Worrying about being “right” is a loser’s game.

Trade Fearlessly,

Mike Siewruk

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