Trade Aptitude

Results of Friday’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 4769.00 stop 4765.25. Short 4800.50 stop 4805.50 (Buy the breakout if this short fails). 

The World Index: (+100/-100) reverses from +29 to -21 with most major world markets mildly Bearish. S&P futures are not. 

Catalysts: NAHB Housing Market Index @ 10:00. 

Quick Tip: Consistency

Here’s an important quote from Dr. Brett Steenbarger, author of many books on trader psychology and an accomplished S&P futures day trader:

“You are most likely to become consistent IN your trading if you are consistent in working ON your trading.” 

How? Preparation and review. Sports teams do this. Prepare for the opponent, play the game, watch the video reviews. 

Are you preparing...

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Trade Aptitude

psychology trade planning Dec 15, 2023

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,...

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Trade Aptitude

Results of Monday’s Best S&P Futures Turning Points: : No levels offered due to contract rollover. 

Today’s Best S&P Futures Turning Points (all trades are filtered out prior to CPI release today): 

Buy 4662.00 stop 4658.25. Short 4714.50 stop 4719.75. 

The World Index: (+100/-100) gains from +14 to +29 with most major world markets mildly Bullish.

Catalysts: CPI @ 8:30. 30-year bond auction @ 13:01. 

Quick Tip: Commitment

If you’re relatively new to trading you’ve probably experienced overwhelm from all the choices you have. All the decisions you must make. 

What asset to trade? 

Which timeframe? 

Which broker? 

Whose strategy to follow? 

How much to risk? 

The list is long. After guiding more than 4000 new traders through the process of making these decisions over the past 15 years I’ve found there is a hierarchy to these decisions. 

Start with commitment....

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Trade Aptitude

Results of Tuesday’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 4521.00 stop 4517.00. Short 4628.50 stop 4632.75.

The World Index: (+100/-100) SOARS from -43 to +57 with all major world markets Bullish. Risk on.

Catalysts: ADP Non-Farm Employment Change @ 8:15. Revised Non-Farm Productivity & Costs @ 8:30. Crude Oil Inventories @ 10:30. 

Quick Tip: You’re Biased!

No offense. There are so many cognitive biases that affect our trading results, and everyone has some. Possibly the worst bias is called Personal Blind Spot.

It occurs when you fail to recognize your weaknesses and shortcomings, leading to suboptimal trading decisions and poor performance.

One of the primary ways to resolve this bias is through self-reflection and self-awareness. You must take the time to assess...

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Trade Aptitude

 

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Trade Aptitude

Results of Monday’s Best S&P Futures Turning Points: Buying 4551 filled in the Globex session early this morning running for 9.50 points so far, still open. 

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

Buy 4521.00 stop 4517.00. Short 4598.50 stop 4604.25. 

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

Catalysts: Home Price Index @ 9:00. Consumer Confidence, Richmond MFG Index, and Fed’s Goolsbee @ 10:00. More Fed speakers @ 10:05, 10:45, 13:05, and 15:30. 

Quick Tip: Mastering Trading

George Leonard noted in his book Mastery that “Our culture has become hooked on the quick fix, the life hack, efficiency. Everyone is on the hunt for that simple action algorithm that nets maximum profit with the least amount of effort.”

Sounds like “Lottery Mentality.” And...

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Trade Aptitude

psychology trading Nov 02, 2023

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 4259.50 stop 4254.00. Short 4305.00 stop 4309.00.

The World Index: (+100/-100) SOARS from zero to +64 with most major world markets very Bullish. 

Catalysts: Jobless Claims @ 8:30. Powell hints dovish.

Quick Tip: Play to Win 

All your results start with your orientation toward life. In Larry Wilson’s book, Play to Win: Choosing Growth Over Fear in Work and Life, he reveals the two orientations that you must choose between.

1. Play to win.

2. Playing not to lose. 

What’s the difference? 

People who have a positive attitude packed with a view of abundant opportunities that are willing to overcome challenges, grow and risk for gain are “Playing to Win.” 

...

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Trade Aptitude

Results of Thursday’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 4126.50 stop 4120.75. Short 4208.25 stop 4212.00

The World Index: (+100/-100) SOARS from -50 to +57 with most major world markets solidly Bullish. 

Catalysts: PCE Price Index @ 8:30. Fed’s Barr @ 9:00. UofM Consumer Sentiment @ 10:00. AMZN/INTC earnings suggest risk-on. 

Quick Tip: Drop the Ego

One of the hardest transitions to make as a trader is the reframing of your belief about winning and losing. We were raised defining winning as good and losing as bad. Now we must change that belief.

Mark Douglas, author of two books on trading psychology said, “When you really believe that trading is simply a probability game, concepts like right or wrong or win or lose no longer have the same significance.” 

Curtis...

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Trade Aptitude

Results of Wednesday’s Best S&P Futures Turning Points: Buying 4181.75 stopped out in the Globex session last night. 

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

Buy 4126.50 stop 4120.75. Short 4270.75 stop 4276.50.

The World Index: (+100/-100) drops from zero to -50 with most major world markets Bearish on increasing volatility.  

Catalysts: GDP, Jobless Claims, Durable Goods, and Trade Balance @ 8:30. Fed’s Waller @ 9:00. Pending Home Sales @ 10:00. Bloomberg: Putin said there’s a risk that an escalating conflict could “spill far beyond the borders of the Middle East.” META down in pre-market on forecast of uncertainty. 

Quick Tip: When to Bank It

How traders approach their craft is very individual. Three traders using the same strategy may have different beliefs that vary their results, yet they follow the same asset selection and...

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Trade Aptitude

Results of Tuesday’s Best S&P Futures Turning Points: Neither trade triggered. The levels remain on the chart. 

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

Buy 4181.75 stop 4177.50. Short 4305.00 stop 4309.00.

The World Index: (+100/-100) drops from +21 to zero in a world of mixed sentiment and low volatility.  

Catalysts: New Home Sales @ 10:00. Crude Oil Inventories @ 10:30. Earnings from 251 companies including META after the close. 

Quick Tip: Confirmation

Here’s a great quote from Jesse Livermore that deserves your attention, “"Do not anticipate and move without market confirmation—being a little late in your trade is your insurance that you are right or wrong."

In our effort to succeed we can devote too much effort to predicting the future. Good luck. The problem is that our predictions are correct just enough to...

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