Yesterday, Softbank’s chip designing company, ARM went public in the biggest IPO of 2023 – jumping 25% in a day and lifting the entire market along with it.
So let’s see how markets have been moving in reaction to it.
The Daily Direction
Note: Thanks to ARM’s IPO, all index directions – with the exception of the Russell 2000 – are now back upward. How it’ll play out next week will all depend on the Fed.
The Daily Nugget
There’s no rule mandating you to trade.
Putting on more trades does not make you more of a trader than another – let alone a better one.
Sometimes, the best position is to not have a position at all.
If market conditions aren’t lining up with your strategy’s edge, there’s no reason for you to trade.
Keep monitoring the markets – yes. “Forcing” yourself to take trades just so you can tell yourself you’re a trader – no.
Like many things in trading, it all comes down to managing your own ego and emotions.
The better you are at doing that, the better you will be at trading.
The Traders Agency Team
P.S. If you don’t have a tested strategy you can use yet, just click here to equip yourself with Ross Givens’ flagship “Stealth” strategy now.