The Fed is meeting as you read this… and markets have been quiet pending the outcome of their meeting tomorrow…
Which is why – with one exception – today’s Daily Direction table looks exactly the same as yesterday’s.
The Daily Direction
Note: Most indexes barely budged yesterday – with the exception of the Russell 2000, which fell by 0.7%, causing its long-term direction to flip negative for the first time since early June this year. It’s not been a good year for most small-cap stocks, and this trend shows no signs of abating.
The Daily Nugget
Simple tip for proper position sizing – focus on how much you could stand to lose, not how much you want to gain.
It’s proven that optimists do better in life.
But when determining proper position sizing for your trades, it’s wise to not focus on how much you could gain…
But how much you could stand to lose.
Remember, to win at trading in the long run, you first need to survive…
And that starts with disciplined use of stop losses and appropriate position sizing.
It doesn’t matter what strategy you’re using – doing this will serve you well in the long run.
Just something to keep in mind on a Tuesday.
And if you’re looking for a tested strategy that could set you up for maximum success once the market’s new direction becomes clear…
The Traders Agency Team