As traders it is not our job to predict the future. Our job is to objectively judge context and manage risk where we see an opportunity to make money.
Today was a huge gain day for stocks after a weak, seller-dominated Monday-Tuesday. This type of price action can be a real gut-check if you do not come into the week prepared.
That is the point of the Weekly Strategy Session. Every piece of information I build into that weekly report is designed to make me money trading, ergo, it is designed to make you the reader money as well. Below is just a small excerpt from the comprehensive report:
As we close the week out, you have a choice. You either reduce your long exposure into this rip or ride your positions through the New Year. It really is that simple. I am long this market gentleman, longer than where I started on Monday. The dip was bought, the bed is still made, and a thatch of mistletoe appeared over my new 5th monitor this afternoon.
Either I will be kissing this screen come Friday afternoon or tossing said screen down the sewer pipe. TBD friends, T.B.D.
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Congrats on the new monitor, you will need the extra viewing power for the upcoming:
#liftoff
“liftoff transitory liftoff transitory liftoff transitory liftoff transitory liftoff transitory liftoff transitory” that was my brain last night.
Right there with you, established a lot of positions yesterday and today after being about 60% cash. Issue could be that all the capital I allocated is in high beta oil names….uh oh. Talk about sphincter clinching time. But I’ve made my bed.
good form e2
5 monitors? Do you look at 5 monitors or is it just that kind of year?
One PC (2 monitors) is for trading rooms, twitter, web browsing, and houses my Think or Swim grid of 16 little stock charts. PC 2 (2 monitors) is strictly charting the Nasdaq and tracking several statistics in excel. PC 3 (1 monitor) is strictly for execution with its own internet feed. #bossedUp