Good morning folks,
I get emails nearly every day from aspiring traders that are learning that trading is not as simple as it may appear.
My heart goes out to them because I know how challenging it really is. I know that it can be gut wrenching, I know that it can seem like the market is rigged and that its just waiting for you to buy a stock so that it can do the opposite of what you thought it would do. The market will teach you lessons every single day. The market will magnify your faults, it will exploit your weaknesses and your bad habits. If you lack discipline, it will take advantage of that. If you fail to have a plan the market can punish you.
Believing you can overcome the odds is extremely important but you must also put in thousands of hours of hard work. Then you have to establish a game plan for every single trade that you take. You have to have the discipline to stick to your game plan. You must realize that not every game plan is going to work out the way you thought. Recognize that you will have losing trades, if you do not use hard stops then the losses may be larger than you planned for.
It is not enough to just simply believe in ourselves. We have to blend that with education, passion, discipline, adaptability, and tenacity.
We have to evaluate ourselves honestly and recognize our strengths and weaknesses and then make the adjustments that need to be made. I know that it can be done!
I believe that anyone can achieve their goals if they have the passion, determination, and will power. Don't let the rough days get you down. Learn from them, evaluate where you went wrong and let it burn into your brain so that you avoid making the same mistake twice.
The markets are a bit weak this morning and in my opinion they look tired. I have no intention of trying to fight the tape. TVIX TZA UVXY are on my radar.
Stocks on my radar this morning
LOCO on radar for a potential bounce, MBLY earnings beat trendline break, CYBR low volume pullback looking for support, CVGI decent daily thin one active premarket, MAGS thin one earning beat already a long term hold for me but may take it for a day trade, CZR potential continuation of the squeeze play, HABT possible HOT IPO. CANF possible continuation, MSON thin one pr this morning,
Seeking Alpha
Today's Markets:
In Asia, Japan +0.1% to 17301. Hong Kong -0.1% to 23350. China +0.1% to 2453. India +0.1% to 28068.
In Europe, at midday, London -0.7%. Paris -1.1%. Frankfurt -0.6%.
Futures at 6:20: Dow -0.3%. S&P -0.4%. Nasdaq -0.4%. Crude -0.4% to $74.32. Gold -0.1% to $1192.90.
Ten-year Treasury Yield -5 bps to 2.32%
In Asia, Japan +0.1% to 17301. Hong Kong -0.1% to 23350. China +0.1% to 2453. India +0.1% to 28068.
In Europe, at midday, London -0.7%. Paris -1.1%. Frankfurt -0.6%.
Futures at 6:20: Dow -0.3%. S&P -0.4%. Nasdaq -0.4%. Crude -0.4% to $74.32. Gold -0.1% to $1192.90.
Ten-year Treasury Yield -5 bps to 2.32%
Today's economic calendar:
8:30 Consumer Price Index
8:30 Initial Jobless Claims
9:00 PMI Manufacturing Index Flash
9:45 Bloomberg Consumer Comfort Index
10:00 Philly Fed Business Outlook
10:00 Existing Home Sales
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
8:30 Consumer Price Index
8:30 Initial Jobless Claims
9:00 PMI Manufacturing Index Flash
9:45 Bloomberg Consumer Comfort Index
10:00 Philly Fed Business Outlook
10:00 Existing Home Sales
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
Notable earnings before today's open: BBY, BKE, BONT, BRC, CYBX, DATE, DCI, DLTR, GLOG, JKS, LQDT,MBLY, PDCO, PERY, PLCE,
Notable earnings after today's close: ADSK, ARUN, ASYS, GEOS, GME, GPS, INTU, MENT, MRVL, NGVC, RENN,ROST, SPLK, TFM,
Best of Success !
No comments:
Post a Comment