Hey friend,
Nothing on the economic calendar for today.
Yesterday evening, we got news on consumer credit – which jumped by $18 billion, indicating Americans are borrowing more than ever.
Tomorrow, we get the latest Producer Prices Index data.
And with all the focus on inflation – not to mention the Fed meeting next week – it could be a big market mover.
The Daily Direction
Note: All indexes closed lower yesterday and opened lower this morning as well – sending multiple index directions downward.
The Daily Nugget
Don’t punish your next trade for your last one.
A losing trade has a way of hanging around longer than it should.
You get stopped out on Monday.
Then another clean setup shows up on Wednesday…
And suddenly you’re hesitant.
You wait a little longer.
Cut the position size more than usual.
Or skip the trade completely because you don’t want to get burned twice.
That feels cautious.
But the second trade has nothing to do with the first one.
The market doesn’t know you just took a loss.
And if the new setup still meets your rules, it deserves to be judged on its own.
This is especially important after a rough stretch, when a few failed trades can make every new opportunity feel suspicious.
Losses are part of trading.
The mistake is letting one of them change how you treat the next perfectly valid setup.
Take the lesson from the last trade.
Then leave the loss where it belongs.
The Traders Agency Team
P.S. In just a few hours at 3 p.m. Eastern today, Ross is going LIVE to show you the breakout pattern he uses in both bull and bear markets – including one stock setting up in the pattern right now.
This pattern has helped members get shots at moves of 70% in 10 days, 114% in four days, and even 148% in just two days.
So click here to guarantee your free spot if you haven’t done so yet…
And Ross will see you in just a bit at 3 p.m. ET.
P.P.S. If you’re planning to attend on a mobile device, make sure you download the presentation app now so you don’t miss anything when it starts. See you there.
iOS: https://apps.apple.com/us/app/goto/id1465614785
Android: https://play.google.com/store/search?q=goto&c=apps
