Let’s see how markets have been moving as we inch closer to the end of the trading week.
The Daily Direction
Note: Markets pulled back sharply yesterday after a Fitch debt downgrade – but it likely had more to do with overhead supply as markets approached new resistance levels. The Nasdaq’s short-term direction flipped downward, while the S&P 500’s short-term direction is a hair’s breadth away from also dipping negative.
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The Daily Nugget
Logic gives you the reason, but emotion is what actually drives action.
You are not a machine. You are not a trading algorithm.
You are a human with emotions – and that is something you must accept if you want to be successful as a trader.
Every trade you make should have a logical reason behind it.
But without proper emotional management, you either won’t make it, will get in at the wrong time, or fail to exit the trade when you need to.
Logic gives you the reason, but it’s your emotions that compel you to act.
The Traders Agency Team
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