Trade Aptitude

Today’s Best S&P Futures Turning Points: Nothing tradeable today.  

Tuesday’s results: This strategy is on hold... but is improving and likely out of the drawdown soon.

The World Index: (+100/-100) is stable at +21 in a mildly Bullish, low volatility world. 

Catalysts: Powell @ 10:00. Crude Oil Inventories @ 10:30. 10-y Bond Auction @ 13:00. Fed’s Bowman & Goolsbee @ 14:30. 

Quick Tip: Persistence

Every successful person in trading and in life has gone through barriers and setbacks to achieve their success. Every failure was viewed as a learning experience. 

In trading everyone deals with losing streaks, drawdowns, unfilled winning trades, slippage, internet outages, criticism from family and friends, and more. 

Consider: 

“I have not failed. I have just found 10,000 ways that won’t work.” Thomas Edison

“I have failed again and again throughout my life....

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Trade Aptitude

Today’s Best S&P Futures Turning Points: Nothing tradeable today.  

Friday’s results: This strategy is on hold. 

The World Index: (+100/-100) improves from +29 to +50 with all major world markets mildly Bullish. 

Catalysts: S&P MFG PMI Final @ 9:45. ISM MFG PMI @10:00. 

Quick Tip: Blind Spot

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 your strengths and weaknesses and be brutally honest about their limitations.

Easier said than done, so get feedback from others, your colleagues, or mentors, to gain an objective perspective on...

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Trade Aptitude

Today’s Best S&P Futures Turning Points: Nothing tradeable today.  

Thursday’s results: This strategy is on hold. 

The World Index: (+100/-100) jumps from -50 to +29 with most major world markets mildly Bullish. 

Catalysts: PCE Price Index/Personal Income/Personal Spending @ 8:30. Fed’s Daly @ 8:40. Chicago PMI @ 9:45. UofM Consumer Sentiment (revised) @ 10:00. Fed’s Monetary Policy Report @ 11:00. Fed’s Bowman @ 12:00, Daly @ 12:40.  

Quick Tip: Calm Down

Even if you don’t golf you’ve probably heard that it’s a mental game. Most athletics are. Trading is too. Dr. Richard Coop, author of the book “Mind Over Golf” advises players to have their own personal pre-shot routine.

Let’s use his advice but change the details to improve our trading. 

1. If you’re approaching a trade entry with a negative feeling, pause and use some physical...

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Trade Aptitude

Today’s Best S&P Futures Turning Points: Nothing tradeable today.  

Tuesday’s results: This strategy is on hold. 

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

Catalysts: New Home Sales @ 10:00. Crude Oil Inventories @ 10:30.   

Quick Tip: Stop Struggling

If you’re struggling to get profitable or consistent in your trading there is a simple, proven solution. 

Join a team. 

There is a reason why the banks, hedge funds, and prop shops have all their traders trading in teams, rather than letting them trade alone in isolation. It works better. 

Here’s some evidence: 

From “The trading performance of individual investors” published in The Journal of Finance found that…Trading teams outperformed individual traders in terms of profitability and risk-adjusted returns. The study suggested that collaboration...

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Trade Aptitude

Today’s Best S&P Futures Turning Points: Nothing tradeable today.  

Thursday’s results: This strategy is on hold. 

The World Index: (+100/-100) plummets from +21 to -43 with mosrt major world markets Bearish on increasing volatility. 

Catalysts: Flash MFG & Services PMI @ 9:45. Existing Home Sales @ 10:00.

Quick Tip: Being Different

Here’s a great quote from Earl Nightingale: “If you set out to be successful at something and you don’t know how to do it, look around at what everybody else is doing, and don’t do that…”

This is especially true with trading. If everyone traded the same way there would be no counter parties. We need plenty of different styles and opposing viewpoints for the markets to exist. 

If you’re still struggling it’s a good idea to stop trading live money and start looking at alternative trading styles. Be open-minded. I’ve met too...

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Trade Aptitude

Today’s Best S&P Futures Turning Points: Nothing tradeable today.  

Wednesday’s results: This strategy is on hold. 

The World Index: (+100/-100) plummets from +7 to -43 with most major world markets Bearish.  

Catalysts: PPI & Jobless Claims @ 8:30. Yellen & Fed’s Williams @ 12:00. 30-year Bond Auction @ 13:00. 

Quick Tip: Your Niche

Dr. Brett Steenbarger, in his book Enhancing Trader Performance (must read), writes about the importance of FIRST finding your niche in trading. 

Too many new traders spend their time and money trying to find a strategy or indicator that makes money. They think that’s all there is to trading successfully. 

The more important aspect is style. What style of trading resonates with you. There are so many different markets, timeframes, and styles of trading. If you could experiment with several different “niches” you’d be way...

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Trade Aptitude

Today’s Best S&P Futures Turning Points: Nothing tradeable today.  

Thursday’s results: This strategy is on hold. 

The World Index: (+100/-100) plummets from +43 to -36 with all major world markets flat or Bearish. 

Catalysts: Non-Farm Payrolls/Unemployment Rate @ 8:30. Fed’s Cook @ 12:00. 

Quick Tip: Great Job! 

Your focus when trading should be on doing the job well. That doesn’t necessarily mean winning. You can do your job well and lose. Why? Because we have no control over the outcome, only our behavior and discipline to follow our rules. 

Here are your main “job” components as a trader: Research, practice, preparation, execution, and review. 

There are plenty of analogies that compare traders with athletes, musicians, artists, and the military. These are all considered performance activities. So is trading. Think...

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Trade Aptitude

Today’s Best S&P Futures Turning Points: Buy 5343.00 stop 5339.25. Short 5340.00 stop 5343.75 if price drops below and retraces up to entry. 

Wednesday’s results: Buying 5321.50 was filtered out during the FOMC Minutes volatility. 

The World Index: (+100/-100) rises from -37 to +7 with sentiment mixed, firmly Bearish in Shanghai & HK, Bullish elsewhere. 

Catalysts: Jobless Claims @ 8:30. Flash MFG & Services PMI @ 9:45. New Home Sales @ 10:00. Fed’s Bostic @ 15:00. 

Quick Tip: After Losing 

What do you do after a losing trade? 

There’s statistical and observable evidence that the number of winning traders is much smaller than the number of mediocre, losing, and failed traders. 

If that’s the case, then the best lesson you could learn and the surest route to success in trading is to emulate the winners. Copy their successful actions. 

Setting aside their actual strategy...

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Trade Aptitude

 

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Trade Aptitude

 

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