Trade Aptitude

Tuesday’s Best S&P Turning Points Results: The suggested short @ 4036.75 ran for 76.75 points and picked the day session high price.  

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

Short 4018.50 stop 4024.25. Buy 3932.00 stop 3927.25.

The World Sentiment Index: (+100/-100) DROPS from +43 to -21 in a world of bearish-leaning sentiment and lower volatility.  Historically price closes higher than the open 56% of the time. 

Catalysts: Retail Sales & Import/Export Prices @ 8:30. Industrial Production @ 9:15. Business Inventories & Housing Market Index @ 10:00. EIA Petroleum Status Report @ 10:30. Scattered Fed-Speak. Risk-off with geo-political and crypto negatives in the news. 

Quick Tip: Science & Art of Exit

Trade exits are critically important to master. All the money is made or lost on your choice of exit. And that means exits are where...

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Trade Aptitude

Monday’s Best S&P Turning Points Results: Price chopped to a lower close without reaching the suggested levels (again). 

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

Short 4036.75 stop 4042.25. Buy 3932.00 stop 3927.25.

The World Sentiment Index: (+100/-100) RISES from +21 to +43 with most major world markets bullish.  Historically price closes lower than the open 54% of the time. 

Catalysts: PPI-Final & Empire State MFG Index @ 8:30. Positive start in China meeting. Brainard suggests 50 basis points in December. 

Quick Tip: Your Flexible Advantage

There is no question the information, systems, access, and talent Wall Street enjoys are great advantages over the retail trader. But we have one advantage they would love to have and won’t. Small size. 

Warren Buffett bought 60 million shares in Taiwan Semiconductor. It took 3 months....

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Trade Aptitude

Friday’s Best S&P Turning Points Results: Price chopped to a higher close without reaching the suggested levels (still look good). 

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

Short 4052.25 stop 4056.00. Buy 3916.25 stop 3911.75

The World Sentiment Index: (+100/-100) DROPS from +57 to +21 in a world of mixed sentiment.  Historically prices closes higher than the open 55% of the time. 

Catalysts: Nothing on the economic calendar. Scattered Fed-speak. 

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...

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Trade Aptitude

Thursday’s Best S&P Turning Points Results: The buy never triggered, the short was filtered out on CPI news reaction.

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

Short 4052.25 stop 4056.00. Buy 3916.25 stop 3911.75

The World Sentiment Index: (+100/-100) SOARS from -29 to +57 with most major world markets bullish, especially China/Hong Kong (+7.74%). Historically price closes LOWER than the open 54% of the time. 

Catalysts: Consumer Sentiment @ 10:00. Risk ON, but not in cryptos thanks to FTX. Musk mentioned bankruptcy for Twitter. :-0 

Quick Tip: Trade Filters

It’s easy to look at a day like yesterday when the equity indexes soared to rare percentage gains and feel FOMO. Keep in mind that the #1 focus of every surviving trader is risk management. Allowing greed to take charge will eventually blow up your account. 

The CPI report created extreme...

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Trade Aptitude

day trading futures options Nov 10, 2022

Wednesday’s Best S&P Turning Points Results: The buy suggestion @ 3792.25, a repeat from the prior day after missing fill by 2 ticks, ran for 24.75 points. 

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

Short 3833.25 stop 3837.75. Buy 3674.00 stop 3668.25.

The World Sentiment Index: (+100/-100) RISES from -57 to -29 in a world of mixed sentiment. Historically prices closes higher than the open 56% of the time. 

Catalysts: CPI & Jobless Claims @ 8:30. After that, election results and Crypto problems. 

Quick Tip: Coming Back

Baseball great Harmon Killebrew said, “The most important athletic ability is the talent to comeback from behind.” True in sports, true in business, very true in trading. 

The great come-back athletes were different than their peers. They knew there would be setbacks. They thought in advance how to handle them....

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Trade Aptitude

Tuesday’s Best S&P Turning Points Results: The short suggestion @ 3843.25 stopped out. The buy suggestion @ 3792.25 missed fill at the bottom of the day by 2 ticks and ran for 63.75 points. Reframe your thinking... the level worked.

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

Short 3923.25 stop 3928.25. Buy 3792.25 stop 3786.50.

The World Sentiment Index: (+100/-100) DROPS from +7 to -57 with all major world markets bearish. Historically there prices closes lower than the open 56% of the time. 

Catalysts: EIA Petroleum Status Report @ 10:30. Risk off mood. Waiting on CPI. 

Quick Tip: Rich & Quick Don’t Mix

A favorite book of mine is “The Road Less Stupid” from esteemed business manager Keith Cunningham. I bought it before knowing what it was about because the title was all I needed to read. You absolutely MUST get something beneficial from a book...

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Trade Aptitude

Monday’s Best S&P Turning Points Results: Neither trade suggestion triggered. 

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

Short 3843.25 stop 3849.00. Buy 3792.25 stop 3786.50.

The World Sentiment Index: (+100/-100) DROPS from +50 to +7 in a world of mixed sentiment and low volatility. Historically there is no edge with this score. 

Catalysts: Nothing on the economic calendar. Elections and CPI on Thursday are the drivers this week. 

Quick Tip: Fear & Greed Solved?

Money messes with our heads. Until you get a grip on the emotions associated with trading, you’re unlikely to succeed. 

Here’s a viewpoint I learned from one of the all-time great traders, Larry Williams: “More money is lost due to overstaying positions (greed) than exiting due to the fear of losing money.” 

Fear is solved by using stops that lose an amount of money...

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Trade Aptitude

Friday’s Best S&P Turning Points Results: Neither trade suggestion triggered. 

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

Short 3843.25 stop 3849.00. Buy 3728.25 stop 3724.00.

The World Sentiment Index: (+100/-100) EASES from +64 to +50 with most major world markets bullish. Historically the market closes lower from the open 54% of the time. 

Catalysts: Nothing on the economic calendar. Elections and CPI on Thursday are the drivers this week. Tech layoffs, lowered earnings estimates. 

Quick Tip: Intra-day Trend

If you look at a 15-minute chart of the S&P Futures from Friday you wouldn’t call it a “trending” day. It was smoothly higher during the Globex session and then reacted violently to the payrolls report swinging down, up, down, up, down and ending modestly up. 

Trend is time-frame dependent, though. In our trading room we use a proprietary...

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Trade Aptitude

 

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Trade Aptitude

Uncategorized Nov 03, 2022

 

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