I Didn't Trade At All This Week - Here's Why

Sometimes you need to observe what is happening in market without making any moves. It doesn't always feel good to feel like a sitting duck BUT you have to know where your limit is and when you need a second to understand the market before making your next move. That's why I didn't trade at all this week.

Not trading out of fear is a terrible move. Not trading out of intention will always serve you well.

The Week
Friday a week ago, the Market had come down hard after Jerome Powell’s short speech on the
FEDS future outlook. I exited my Long PUTS grabbing some good gains.
So, I started the week with no positions. The Market continued to go down all week on slightly
higher volume. On Thursday the price/action bounced up off a support area. I did no trading all
week. Why?

1) I knew there was a Jobs Report scheduled for Friday morning.
2) I have tripled my trading account this year in spite of the very rocky road we are on
politically and economically.
3) I just didn’t feel like sticking my neck out.

On Friday the reaction to the Jobs Report was negatable and the Market started to go up. I saw
a support form and the price/action was bouncing off that support.

We went into a long weekend and I wanted to take advantage of the extra day of time
decay. I cautiously put on three credit diagonal verticals. I call this trade a Mini Money Press.
Later in the day Friday the market once again dropped and those positions are only at
breakeven right now.

I am not too concerned because I saw some buyers step in at the close of the Market.
speech was so strong down that I am unsure what the Market will do next so I am willing to just
sit on my hands rather than stick my neck out. Don’t want to give away any of the profits I have
fraught so hard to get.

A Taste Of DATA
This week, start TODAY I will be sending out alerts on my thinking and all trades I do to everyone who has
opted into the DATA waiting list.

DATA is a 10-week course where you trade right along side
me every day.

We discuss the Market; We look for good trades; We massage trades that have
gone against us. The goal is to double our account within the ten weeks no matter what the
Market hands up.

This taste of DATA will give you a feel for the 10-week session and make
your decision to join us on the adventure easier.

Sign up for the Waitlist HERE