≈ Lessons from veteran traders ≈
Traders,
Markets are up slightly in early trading as earnings continue to roll in. On the economic front, weekly jobless claims came in lower than expected, but still showed 1.186 Million people files for unemployment on the week. Tomorrow mornings monthly Jobs report from the Labor Department will be closely eyed. In Washington, talks between Republicans, Democrats and the White House seem to have stalled although the market is still expecting some stimulus deal to get done and passed in the short term.
It has been a bullish week on the same basic storylines, as we keep moving through earnings season. How are you trading it? Directional trading and Cash Flow trading – Delta and Theta respectively – have been popular approaches during these conditions.
It was interesting to listen to the coaches last night on our YouTube panel discussion on how to start trading with a small account. They talked about their styles of trading, some of the mistakes they made when they were new and how they have developed their approach over time. Whatever your approach is to the current market conditions realize we all have our preferences as well. There’s not one way to trade the markets, and developing your trading identity, learning from mistakes, and pushing forward always is the right attitude to have.
Spend the time to watch the replay below and let us know how we can help you with your next steps in your development as a trader.
#TeamTackle
Chart of the Day
MCD Daily Chart
McDonalds was one of the Bull Watch List candidates from this week’s Options Report. The stock moved higher from Monday through today and it is now pushing up against a resistance zone threatening a breakout. Review the report here: https://tackletrading.com/options-report-august-1st-2020/
Video of the day
How to Start Trading With a Small Account
If you missed the webinar with the panel of coaches last night, you can watch the replay here. It was a fun discussion on what to do, what not to do, and the proper mindset of starting to trade in the markets.
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.
Cashflow Club 8:30 PM EST
Held every Thursday before Friday’s option contract expirations, this show helps you perfect your favorite cashflow strategies.
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.
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