My job is never done. There will ALWAYS be over-aggressive, degenerate gamblers who refuse to trade scared. That is… Until they lose enough that it hurts. The crazy thing is, that’s when most people quit.
Work = Profits. You get out of trading what you put into it. I didn’t conjure my 7-Step Framework out of thin air. Years of study and testing went into its development. Trading is no different than any other skill.
Sometimes I’m dead-on right about a trade, but a little voice says: “Maybe it’s too much risk…” So, small win or small loss, I get out. Only for the stock to do exactly what I expected going into the trade. It would be easy to get frustrated when that happens.
Last week was a good reminder that as the market shifts… Patterns you’ve grown accustomed to might not work as well. At the same time, old friends come back to life. For example, my old favorite, the morning panic dip buy, had me doing this…
Today marks the 39th anniversary of Black Monday — the infamous 1987 stock market crash when the Dow Jones Industrial Average plunged more than 22% in a single session. Now, I’m certainly not predicting another Black Monday. But with the market already under pressure, momentum deteriorating, and stocks breaking to new lows, the timing is a little too close for comfort.
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Sr. Research Analyst for TRADEMONSTER.ai Alerts & Market Rebel [...]