The Secret To Profitable Trading

Published: Sun, 11/17/13

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Welcome To: The Market Toolbox LIVE! at 8pm Eastern
 
11/17/13 ~ The Week Ahead...
 
 
  • The Week Ahead... Not This Week...
 
Dear Toolbox Readers,
 
We like to take a look at broader markets and economic conditions when we do the weekly shows. They are interesting topics for serious minded folks to discuss.
 
Knowing what is happening on a broader scale can do two things for you. 1) It can give you a sense of how things are going generally and 2) It can cloud your judgment as to what it takes to be a really profitable trader.
 
Let me explain... You could read "doom" blogs all day long and agree that they really have a point... some things are just plain crazy. But if you do that you run the risk of seeing "doom" everywhere you look and by any objective measure that will have an impact on the trading decisions that you make.
 
The inverse would be true as well... You could spend all day reading about how the economy is in "recovery" and you could read about all the really incredible things happening in science, medicine and technology endeavors. Some of that stuff is pretty mind-blowing.
 
This too could cloud your judgment to the "rosy" side.
 
This is why we always say... "Trade What You See, Not What You Think."
 
You can do that in a variety of ways. If you are a long-term investor it does not require the level of attention that day trading does but still one MUST have a system in place and a set of rules to apply to their position.
 
Choosing proper entries and exits is really the secret to winning the game and using what you SEE on the charts and not what you THINK should happen.
 
Bill wrote a blog post about some trades we marked up on the live trading shows last week... If you want to see what we see... Take a look at them here.
 
It is really all about trading what is moving today. Be sure and check it out.
 
We'll See You Tonight At 8pm Eastern!
 
 
Until Next Time...
 
Best Wishes and Good Investing,
Doug Newberry
The Investing Systems Network
 Swing Traders ~ Day Traders ~ Investors
Join The Research Lab Today... Profit Tomorrow

 

 
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