Control your Emotions

Good morning folks,
I have stated it before but I will say it again. Do not let your emotions impact your trading!

If you are experiencing outside interference or struggling with some personal issues then just walk away and get your head straight. If you are are experiencing extreme anxiety when you enter a trade then reevaluate the size of your position and the setup that made you enter. 

When I first started day trading, I would find myself getting stressed out in certain trades. What I learned was that in some of those trades I did not have a clearly defined risk reward plan. There were times that I was basically flying blind. When I added the element of uncertainty by not having a defined plan I added to my own stress.  The larger the position the more stress it caused. I know I harp on having a plan an awful lot on this blog but I am constantly asked by others what I think of XYZ stock and whether or not I think it will go up or if they should take their loss. I ask the same questions every single time. What was you entry? What was your target and where is your stop? 92% of the time they only have the target they think it can run too. The most important target is not where it can go up too, but where you plan to exit if it goes down. Define your risk! 

Stocks on my radar
HIMX like the daily and the news yesterday possible continuation, FXCM bounce continuation risky trade so keep a tight stop, FWM for possible red to green, QSII earning beat nice daily, LAS penny play insider buy announcement careful, NERV poppin premarket of pr last night thin one caution, VJET for continuation, MCEP possible red to green, NLST pr decent daily, RLH smoking hot daily 

TZA TVIX IBB IWM NUGT JDST USO UWTI GASL SPY NDAQ for market sentiment 

Seeking Alpha

Today's Markets:
In Asia, Japan +0.3% to 17329. Hong Kong +0.7% to 24523. China +0.6% to 3344. India +0.4% to 29006.
In Europe, at midday, London +0.3%. Paris -0.2%. Frankfurt -0.3%.
Futures at 6:20: Dow +0.1%. S&P +0.1%. Nasdaq flat. Crude +0.1% to $47.81. Gold -0.5% to $1287.
Ten-year Treasury Yield +4 bps to 1.85%

Today's economic calendar:
8:30 Initial Jobless Claims
9:00 FHFA House Price Index
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
4:30 PM Money Supply
4:30 PM Fed Balance Sheet

Notable earnings before today's open: ALK, AVT, BBT, BKU, BPOP, COV, CP, CY, DLX, FBC, FCS, FNB, GMT, HBAN, JCI, JNS, KEY, LUV, NTCT, ORI, PCP,QSII, SBNY, TDY, TRV, TZOO, UAL, UNP, VZ, WBS, XRS

Notable earnings after today's close: ALTR, ASB, CE, COF, CYN, DGII, EGHT, ETFC, FII, HBHC, HXL, INFN, ISRG, KLAC, MSCC, MXIM, PLCM, RMD, SBUX,SIVB, SWKS, WAL

CNBC in the News

	IN THE NEWS TODAY

U.S. stock futures were higher in early trading ahead of the European Central Bank's hotly anticipated bond-buying program announcement. Investors were waiting to see if the ECB decision lives up to its advanced billing. (CNBC) Dow components Verizon (VZ) and Travelers (TRV) lead this morning's list ofcorporate earnings reports, while Starbucks (SBUX) is among the companies set to release quarterly results after the bell. (CNBC) Another Dow stock, American Express (AXP), announced plans lateWednesday to cut more than 4,000 jobs over the next year. The company also issued earnings and revenue that beat expectations. (CNBC) EBay (EBAY) plans to cut 2,400 jobs and explore a sale or IPO of its enterprise unit as the e-commerce company prepares to split from its PayPal division this year. (Reuters) EBay also announced earnings and a standstill agreement with major investor Carl Icahn, who joins CNBC's "Fast Money Halftime Report" at 12:30 p.m. ET. Standard & Poor's has agreed to pay $80 million to settle an array of government charges that the credit rating agency loosened its criteria to elevate its financial interests. (NY Times) Barclays (BCS) CEO Antony Jenkins, in an interview on CNBC today from Davos, has rebutted claims by the New York Attorney General that the bank is not co-operating with its investigation into dark pools. (CNBC) In CNBC's "Face to Face" video series from Davos, featuring candid conversations with a wide range of influencers, Richard Branson and will.i.amtalk about which smartphone they carry. (CNBC) On CNBC's "Squawk Box" from Davos, LinkedIn (LNKD) Founder Reid Hoffman, Morgan Stanley (MS) Chairman and CEO James Gorman, and Dell Chairman and CEO Michael Dell join us this morning. House leaders had planned to hold a vote today on an anti-abortion bill to coincide with the annual March for Life in Washington D.C., but dropped the idea when female House Republicans objected. (USA Today) A private meeting scheduled this week between Mitt Romney and Jeb Bushraises the possibility that the two former governors can find a way to avoid competing presidential campaigns. (NY Times)

	BY THE NUMBERS

U.S. economic reports will likely take a back seat to the ECB this morning, but the government will release its weekly report on initial jobless claims at 8:30 a.m. ET. The ECB-related distraction will ramp up at the same time, with bank president Mario Draghi beginning his post-meeting news conference. The Energy Department releases its holiday-delayed report on oil and gasoline inventories at 10:30 a.m. ET, as well as its look at natural gas inventories at 11 a.m. ET.

	STOCKS TO WATCH

Leading U.S. pipeline Kinder Morgan (KMI) is entering North Dakota's Bakken shale with a $3 billion acquisition of Hiland Partners, founded byContinental Resources (CLR) boss Harold Hamm. (Reuters) Google (GOOG) is planning to sell wireless phone service directly to consumers through Sprint (S) and T-Mobile US (TMUS), according to a variety of published reports. Procter & Gamble (PG) has broadened the responsibilities of senior executive David Taylor, putting him in the lead to succeed Chief Executive A.G. Lafley, according to the Wall Street Journal. Best of Success!