Today’s Best S&P Futures Turning Points: : Buy 5300.00 stop 5295.50. Short 5338.75 stop 5342.00.

Thursday’s results: Buying 5327.75 held for 4 bounces offering up to 8.25 points. Scalpers heaven. 

The World Index: (+100/-100) drops from +14 to -7 with Asia Bullish and the western world mixed. 

Catalysts: Fed Speakers: Kashkari & Waller @ 10:15, Daly @ 12:15. 

Quick Tip: Brain Food

We’re living longer and healthier than prior generations.  Attention to diet and exercise play a huge part. We know better what to feed our bodies and those that practice some discipline with diet and exercise reap the longevity benefit. 

Your mind needs food, too. Not just the kind you eat, the kind you read, watch, and listen to. 

You’re a trader so I’m sure you have plenty of trading resources for reference. Now broaden your mindset and challenge your beliefs with some books that while not about trading, I’ve personally found great advice and ideas applicable to trading within the...

Today’s Best S&P Futures Turning Points: Buy 5185.25 stop 5181.75. Short 5249.50 stop 5253.50. 

Wednesday’s results: Neither trade triggered. 

The World Index: (+100/-100) improves from -14 to +14, mixed sentiment and low volatility. 

Catalysts: Jobless Claims @ 8:30. 30-Year Bond Auction @ 13:00. Fed’s Daly @ 14:00. 

Quick Tip: Is it fun? 

In James Clear’s awesome book Atomic Habits, he reveals “The Truth About Talent.” While there is a genetic component to the answer, it’s not the only component. 

Talent also comes from learning, training, and practice. But before you agree to dedicate yourself to all that work, you need to really like what you’re doing. It’s difficult to persist when you don’t like something. It’s easier to persist when you do. 

Clear offers a few questions to ask yourself so you can “pick the right one (habit)” that pertain to trading perfectly: 

“What feels like fun to me, but work to others?” 

“What makes me lose track of time?”

“Wher...

Today’s Best S&P Futures Turning Points: Buy 5156.50 stop 5152.25. Short 5206.50 stop 5211.25. 

Friday’s results: Shorting 5142.00 was filtered out during the Non-Farm Payrolls release/volatility. 

The World Index: (+100/-100) remains at +60 with all open major world markets Bullish. 

Catalysts: Fed’s Barkin @ 12:50, Williams @ 13:00. 

Quick Tip: Perfect Practice

If you were an actor you would not only memorize and practice your script, but you would listen to or watch a recording of your performance to hone your act. Repeatedly. Practice and review. 

This sequence is the formula for mastery. It applies to anyone wanting to truly master their profession including traders. 

It’s critical that you practice in simulated mode before risking real money. You want to develop “mental muscle memory” and confidence. 

It’s even more critical that you develop a consistent review process. Think about it this way, the trade plan you developed is your script. Your performan...

Today’s Best S&P Futures Turning Points: Buy 5065.50 stop 5061.25. Short 5176.00 stop 5181.75.

Tuesday’s results: Neither trade triggered. 

The World Index: (+100/-100) lifts from +43 to +64 with most major world markets Bullish on rising volatility. 

Catalysts: Durable Goods @ 8:30. Crude Oil Inventories @ 10:30. 5-Year Treasury Auction @ 13:00. META & IBM earnings after close. TSLA up 12% pre-market.   

Quick Tip: Being Wrong

We’re ingrained from childhood to be right. Rewards for being right, punishment for being wrong. In trading this is destructive thinking. 

George Soros famously said: "It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong."

Of all the words I’ve read about winning and losing, being right or wrong, none sum up the situation better than this quote. Embrace it and you’ll feel much better when you lose. 

Tired of trading alone and guessing what to do n...

Today’s Best S&P Futures Turning Points: Buy 5046.75 stop 5042.75. Short 5176.00 stop 5181.75.

Monday’s results: Buying 5169.50 ran for 16 points. 

The World Index: (+100/-100) PLUMMETS from +24 to -79 with all major world markets very Bearish on higher volatility, S&P Futures up slightly. Contrarian alert: historically longs outperform at this level. 

Catalysts: Housing Starts & Permits @ 8:30. Fed’s Jefferson @ 9:00. Industrial Production @ 9:15. Fed’s Williams @ 12:30, Barkin @ 13:00, Powell @ 13:15.

Quick Tip: Consistency

Having taught over 4000 traders in the past 16 years the goal I’ve heard most often is the desire for consistent profitability. 

You know what profitability is but how do you define consistency in trading? Time certainly enters the definition. Short term traders would likely strive for weekly profitability. Long-term traders look to monthly, quarterly, or annual profitability. The decision is yours. 

Here are the seven principles to obtai...

Today’s Best S&P Futures Turning Points: Buy 5169.50 stop 5164.75. Short 5249.50 stop 5253.50.

Friday’s results: Buying 5215.25 stopped out. 

The World Index: (+100/-100) improves from +7 to +24 with mixed sentiment worldwide. 

Catalysts: Retail Sales, Empire State MFG Index, Fed’s Williams @ 8:30. Housing Market Index @ 10:00.  

Quick Tip: 5 Fears

Fear paralyzes progress in anything you do. In trading, there are 5 types of fear. Recognizing you’re susceptible to them is the first step to a solution. 

Fear of Missing Out (FOMO) – you can’t tolerate watching a winning trade from the sidelines. This breeds impulsivity. Solution: Have an abundance of trade opportunities. 

Fear of Loss – you still feel upset about losing money. Solution: Lower your risk and find a strategy you have confidence in 

Fear of Being Wrong – you are embarrassed to be wrong and get mad at yourself when you are. Solution: Understand that individual trade results are meaningless. Focus on ...