≈ Let’s have some good steak. ≈
“I hate reality but it’s still the best place to get a good steak.”
― Woody Allen
Reality insists on teaching us. 2018 turned out to be a hell of a year for cautious traders and a year of hell for the impatient, undisciplined ones.
If I were to give Tackle Traders some advice for 2019, this is what I’d say:
– Fail fast and fail often. Errors become a source of information of what does not work, increasing your chances of success over the long run.
– Leave your emotions out of the game. Become a robot.
– Trade within a system and adopt the System-Thinking approach (Start Systems 101 at Tackle).
– Shoot for convexity, i.e., make sure that if you lose, lose small and if you win, win big.
– Safe sex or no sex at all. Always carry protection, including protection against your own convictions.
– Start from the tail, i.e., design your portfolio and qualify each trade from the point where everything goes wrong and you get the max loss.
– Learn basic cash flow strategies like the Covered Call and the Naked Put. They reigned absolute in 2018 and will never get obsolete.
– Grab the latest Tackle 25 (to be released today, for PROs only)
– Journal every trade, even when back and forward testing.
– A bad trade will always be a bad trade even if you sit on it waiting for a profit. Don’t get attached to it, a sunk cost is always a sunk cost, move on.
– The financial markets are divided by those who don’t know and those who think they know. Choose to be part of the first group.
– If we are indeed in a bear market, buy the Bear Market Survival Guide at our (brand new) Tackle Store.
– Whether the market tanks or not, precious metals are precious metals. Stay tuned to Tackle’s Personal Gold System, to be released soon.
– Money management is still the most relevant topic you’ve got to learn as a trader.
Happy New Year #TeamTackle!
Chart of the Day
SPY, 2018
A hell of a year for some; a year of hell for some others. One thing we must agree, though: what a ride.
Video of the Day
What is Vega? (BONUS: FREE Options Greeks Guide)
In this video, you will learn what the Options Greek VEGA is and how it can be used in your trading routine in order to perform better in the market.
Today’s Lineup
Traders 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.
Trading Justice Podcast Episode 302: 2019 Prediction Podcast
On episode 302 of the Trading Justice podcast the coaches break out the crystal balls and make their predictions for 2019. From the stock market, to oil, gold, politics and even a bit of pop culture the Tackle Trading coaches gather together in a fun filled podcast.
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