Abandoning the Trading Plan
Having a trading plan is vital to success in this line of work. Knowing when you’re willing to modify that plan and how to do it is also vital to success. Let’s take this thought into action for tonight’s review.
Having a trading plan is vital to success in this line of work. Knowing when you’re willing to modify that plan and how to do it is also vital to success. Let’s take this thought into action for tonight’s review.
Here’s how to know by 10 AM. After the bell rings, it’s anyone’s guess how the market wants to trade… but there’s a high probability that the market will be range-bound if this one thing happens.
The week has started with some chop, but with oil inventories and U.S. GDP still to come, there is plenty to watch.
Depending on where the markets open on Monday, it might make sense to have some bearish setups to deploy. These are 3 I’ll be reviewing as we get into next week.
There are so many ways to study the markets and even more ways to apply what you learn. Stocks were volatile this week, but we have several great examples of some of the most important concepts I’ve learned in my trading. How each trader applies them will be different, but they’re worth taking some time to review.
It’s tough when some trends make perfect sense and others are simply moving on fairy dust, but nonetheless, the combination of long bonds, long gold, and long equities is working and we have to trade what we see… even if we don’t believe it… that is, once the Federal Reserve starts throwing their weight around.