≈ You’ve got to put the work in. ≈
Our daily lives often become a series of routines. Too often these routines gravitate towards comfort or avoidance of pain instead of routines that can help us thrive and reach our goals. For example:
Person A: Gets up in the morning, eats Lucky Charms, showers and drives to work listing to sports radio.
Person B: Gets up in the morning, exercises, eats a nutritious breakfast, showers and drives to work listening to an educational podcast.
Person A: Comes home from work, prepares dinner watches TV or plays a video game
Person B: Comes home from work, prepares dinner and then works on their trading watchlist and then puts 30 minutes of work into a new trading principle before watching TV or playing their video game.
Routines are almost impossible to avoid and are not a bad thing. Many of the things we enjoy in our lives, from family to our hobbies, are incorporated into our daily routines and the result in a more fulfilling existence. It can be the simplest acts in our routine, from the paper we read each morning to the coffee stand we visit on our way to work each day, that are the things we look most forward to. However, it is often times the very routines people have that hold them back from where they want to be financially.
Becoming a successful trader can require a dramatic change in one’s routine to be successful. There is a large amount of information that needs to be learned to maximize your chances of success. This will require a fair amount of time and dedication on the individual level. It is no secret that change is difficult for most of us. We hold onto what is comfortable and familiar. This week challenge yourself to examine your own personal routines and find blocks of time where you can start to incorporate learning and implementation of what you learn into your daily routine. Let us know if there is anything we can do on our end to help.
Chart of the Day
Apple (AAPL)
Many charts out there look like Apple (AAPL). These charts have experienced short-term uptrends only to trade sideways the last couple of weeks. If stocks you are following look like this pattern pay close attention to support and resistance levels this week as it is very common for stocks to trade sideways for a few weeks after a short-term move and then breakout.
Video of the Day
What is THETA?
Theta is the amount of decay an option price has as time moves forward.
Today’s Lineup
Coaches Lounge 11am EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
Halftime Report 12:30pm EST
The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.
Market Recap 4:30pm EST
The Market Recap is designed to give you a quick overview of the day that was. While brief, this report is designed to cover all of the major events that drove the markets that day and help you plan for the trading day ahead.
