Hey friend,
We got the latest Producer Price Index data this morning.
And it came in hot, at 0.5% monthly versus the expected 0.3%.
This is definitely influencing rate cut expectations for the year.
Let’s see how markets have been moving.
The Daily Direction
Note: All indexes closed mixed yesterday and have been moving sharply lower today – sending multiple index directions downward.
The Daily Nugget
“I decided to let my stop decide.”
~Nicolas Darvas
Trading is nothing but a game of decision making.
The action is just clicking a few buttons.
But the decision of which specific actions to take is everything.
The catch is that there are too many possible decisions you can make in trading.
That’s where the difficulty comes from.
So anything you can do to reduce the number of decisions you can make will help.
And as Nicolas Darvas – author of How I Made $2,000,000 in the Stock Market – says…
Let your stop decide when to exit a trade.
Sure, you’ll still have to decide what the stop should be at the outset…
As well as what trade to make in the first place (which is where strategies come in).
But when it comes to the decision of when to exit a trade that’s not working out…
Just let your stop decide.
Remember – the more you can create “rules” around your decision making in trading…
The easier and more successful you will be.
Have a good weekend ahead.
The Traders Agency Team
