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Tackle Today: Colors and lines

September 3, 2020

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The simplicity of a chart


Market’s are starting Thursday’s trading off to a bearish start as the major indices are all in the red.  Most notably, Tech is selling today after we have seen tremendous runs over the past few week’s and months. 

When you are trading on a day to day basis, some days will have more volatility than others.  It is important to cut your emotions out, focus on your trading plan and trading rules, and do your job as a trader.

I was sitting in my office this morning running my daily routine, when my daughters came in to sit with me for a few minutes before their school day started.

‘All you do is look at colors and lines – it’s so simple’ Said my 8 yr. old.  She was trying to tease me a little, but I said you are right, it should be simple, and I asked her to read a few of the trends in the charts I was looking at. 

It was nice moment for me, and a reminder that I have had many times over the years, to keep it simple.

Read the trend, read the pattern, read the chart, decide based on your plan and rules, and move on.


Chart of the Day

QQQ Daily Chart

The QQQ – also known as the Q’s – are selling off in early trading down 4%.  The Nasdaq 100 is up over +40% year to date and has been the strongest Index. 

Video of the day

Special Webinar – Simple Trick to Increase Profits Using Trade Journal

If you missed last night’s webinar with Coach Gino, catch the replay here.

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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