Tackle Today: 3 Groups
March 31, 2020
≈ Where do you fall? ≈
Recent volatility has caused much of the investing and trading community to re-examine where we are and where we’re heading over time with stock prices. There are many data points, storylines and issues that can put you in one camp or the other. The question to ask yourself is ‘what is my investment thesis?’ Essentially, what do you believe is the most likely outcome from all of the recent news on the markets moving forward, and how will you approach trading and investing based on that thesis? There are 3 main camps that can be described in the following ways
Group 1 – Buy the dip – sooner than Later
Group 2 – Buy when there’s more information – once it becomes clear
Group 3 – The markets have turned bearish – take action to protect and profit on the downside
Only time will tell who will be correct. But it’s important to start building a strategy on how you’re going to approach trading and investing in these markets, now. We discussed all of these ideas on our latest podcast at Trading Justice. Give it a listen, you will come away with some insight. As you move forward, day by day, here are some simple things you can do to stay data driven, build a thesis and make the best decisions you can to put profit into your account and control the risks.
- Run your daily routine with step by step checklists to avoid distractions
- Plan your trade and trade your plan
- Only live trade strategies and systems that you have tested and know work
- Continue your education through webinars, forums, backtesting and practice
- Map out the risk and reward on every trade you take
- Plot the potential risk and reward outcomes on your long term investing based on your investing thesis’
- Keep emotion out of your trading
- Have conversations with other trusted sources to make sure you’re thinking clearly
- Journal your trades to ensure record keeping is prompt
It’s important that you stay data-driven, focus on your trading plan and execute your system in ANY market condition, but right now, with the volatility at record highs, it’s a reminder to do so immediately. If there’s anything you need to help you with this process, or point you in the right direction of self-study, email us at email@example.com
Chart of the Day
Video of the Day
One of the most important thing you can do on a daily basis is to run your Daily Routine. If you need some help, here’s a great video on how to create your daily routine in 4 steps.
Today’s line up
Traders Lounge 11 AM EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
The Coaches Show 8:30 PM EST
This is our weekly MasterMind group. Join the coaches tonight, 8:30pm EST to discuss the markets and help you prepare for the week.
Halftime Report 12:30 PM 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.
Financial freedom is a journey
The Tackle Today series is brought to you by Tackle Trading.
Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.
# Sign up now for a 15-DAY FREE TRIAL #
Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.
All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.