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Coronavirus – CME will close its Chicago trading floor at end-Friday

  
  Analysis
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Floor will close indefinitely. Globex trade to continue.

  • CME group to close Chicago trading floor as a precaution
  • reopening of trading floor will be evaluated as more medical guidance on coronavirus becomes available
  • will close its Chicago trading floor as of close of business Friday, March 13, 2020, as a precaution to reduce large gatherings
  • no coronavirus cases have been reported on trading floor or in Chicago board of trade building
  • company’s headquarters will remain open
  • all products will continue to trade on CME Globex as they do today.

10 Ways to Become a More Consistent Trader

  
  Education
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Number-101) Visualize yourself trading consistently.
2) Set realistic goals for your trading. 
3) Do not spread yourself too thin.
4) Prepare consistently.
5) Keep a live trading journal. 
6) Develop clear exit rules for your trades.
7) Always know how much you are willing to lose on a trade.
8) Develop a trading PlayBook of your best setups and trade those plays. 
9) Keep trading statistics of what you trade well. Verify your best trade setups with statistics. 
10) Wait for a fat pitch (trade). 

15 Ways to Manage Trader Stress

  
  Education
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  1. Only risk 1% of total trading capital per trade with stop losses and proper position sizing. Proper positions sizing makes the emotional impact of any one trade only one of the next one hundred a totally different mental perspective than an all in/have to be right Hail Mary trade.

  2. Only trade a  position size you are comfortable with.
  3. Trade a method or system you believe in based on back testing of a positive expectancy.
  4. Know where you will get out of a trade before you get in.
  5. Only trade with a detailed trading plan.
  6. Believe in your ability to follow your trading plan. YOu must have faith in yourself to lower your stress levels.
  7. Know yourself as a trader and only take your kind of trades. Take trades that will leave no regrets because they were good trades regardless of out comes. (more…)

1+11 Reasons Why Traders Fail

  
  Education
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  1. They have inadequate capitalization.
  2. They are using someone else’s system.
  3. They lack knowledge of the system’s performance.
  4. They are unable to sit through flat periods or drawdowns.
  5. They are unable to handle stress.
  6. They lack commitment.
  7. They experience drawdowns that are greater than their hypothetical testing.
  8. They override the system’s signals.
  9. Their ego prevails.
  10. Their system is overoptimized; they make additional rules to take out losing trades.
  11. They lack parameters for spike performance in markets.
  12. They lack diversification between systems and/or markets.
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