Hey friend,
Nothing on the economic calendar today.
This week though, we got some consumer confidence numbers on the menu…
As well as job openings and the official employment rate data.
Let’s see how the markets have been moving.
The Daily Direction
Note: All indexes except the Russell 2000 closed lower last week – sending the medium-term direction for the S&P 500 into downward territory.
The Daily Nugget
In turbulent markets, the gap between concept and execution expands dramatically.
In trading, there’s always a gap between concept and execution.
You can know what trade you “should” make – and still not make it. There are too many of such cases to count.
The reason that gap exists?
Our emotions.
And when markets are as turbulent as they are now…
It throws our emotional equilibrium out of whack…
Which results in this gap becoming dramatically wider.
This leads to a lack of execution – leading to subpar results.
So the question is, how do you narrow that gap?
There are no easy answers.
A lot of it comes from the experience of having gone through these volatile periods in the past…
And understanding how to manage the same emotions that always arise during such times.
Another thing that helps is getting a clear read on the market before the volatility hits full force.
Because as Head Trader Ross Givens explained in his newsletter this morning…
Q3 may not be a simple “buy everything” market.
And it may not be a simple “sell everything” market either.
It could be a trader’s market.
Bigger swings. Faster moves. Sharp reversals.
And plenty of traps for anyone who goes in without a plan.
That’s why it’s critical you keep reading what Ross to say in his newsletter and in his YouTube videos…
Because the last thing you want – is to walk into Q3 unprepared.
The Traders Agency Team
