Hey friend,
We got some industrial data this morning, which came in below expectations.
Pending home sales also showed a monthly decrease, while economists expected an increase.
Let’s see how the markets have been moving.
The Daily Direction
Note: All indexes closed lower yesterday and opened lower today as well. However, all index directions remain upward.
The Daily Nugget
Trade like it’s a business.
Trading can be a great way to make money.
It can also become a very expensive hobby if you’re not careful.
The difference often comes down to how you treat it.
If you’re opening trades because you’re bored, chasing whatever is moving, or forcing something just because you haven’t traded all day…
You’re probably paying for entertainment.
There’s nothing wrong with enjoying trading.
But the money side still has to come first.
That means knowing what kind of setup you’re looking for before you enter.
Knowing how much you’re willing to lose if you’re wrong.
And being perfectly happy to do nothing when there’s nothing worth trading.
A good trader should be able to look back over a month and explain where the money came from.
Which setups worked?
Which ones didn’t?
Where did you follow the plan?
Where did you get impatient and do something stupid?
That’s the boring part of trading.
It’s also the part that tends to separate people who stick around from people who keep making deposits into their brokerage account.
You don’t need to make every day exciting.
You need to make enough good decisions that, over time, trading pays you instead of the other way around.
The Traders Agency Team
P.S. Want a free stock pick? Check out Ross Givens’ latest YouTube video on the $5 stock that just got a $210 million Pentagon contract.
