Hey friend,
We got the latest retail sales data this morning, which showed a solid increase – likely as buyers flocked to shops to get ahead of any tariff spikes.
New manufacturing data also showed surprising strength, coming in significantly ahead of expectations.
However, import prices also crept up.
And the latest consumer sentiment survey also showed an unexpected decrease as inflation expectations ramped up.
The Daily Direction
Note: Most indexes closed flat yesterday, with only the Russell 2000 posting a decline. And while they opened higher this morning, they’ve generally been moving lower through the day. Still, no change in any index directions, which all remain upward.
The Daily Nugget
The goal in trading is to get “house odds”.
Naive beginner traders want to win every trade.
Successful professional traders want to get “house odds”.
In a casino, the house doesn’t win every time.
But they always win over time.
That’s because they have “house odds” – an edge that slants the scoreboard toward them…
Making it inevitable that they come out ahead in the long run.
That’s what you want.
Expect to win every trade, and you’ll end up disappointed…
Chasing your losses… ignoring risk management… and falling ever deeper into the hole.
Understand that you just need to tilt the scoreboard a little toward you…
And you’ll be able to ruthlessly cut losers and lock in profits with your winners.
That’s the entire game.
Simple, but not easy.
At Traders Agency, our job is to help you get that edge – to give you the tools you need to get those “house odds”.
But everything else – the discipline, the emotional control…
It’s all up to you.
Enjoy the weekend.
The Traders Agency Team
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