Tackle Today: Creating Urgency
September 3, 2018
≈ Because sometimes it’s necessary. ≈
Three young frogs were playing one sunny day on an old country road. As they were playing, one of the frogs fell into a pothole. The frog tried and tried to jump out of the pothole but was unable to make the leap necessary to get out. After a period of time, the other two frogs grew impatient with their unfortunate friend and hopped off to a nearby field to play. A few hours later the two frogs were playing in the field and they saw their friend hopping to them. Curiously they asked their friend, “I thought you couldn’t get out of the hole, how did you manage to escape?” The frog that had been stuck in the hole responded, “Well, after you left I kept trying and trying and trying to get out of the hole with no luck. Then a truck started coming down the road towards the pothole and I had to get out!”
It is amazing what a sense of urgency does to increase productivity and our ability to accomplish things we might not have thought possible. The little frog in the story had the ability to get out of the hole the entire time but only was able to do so when faced with a situation that had extremely dire consequences if he failed. Many times, in our desire to learn how to trade and invest we put off studying and even making trades because we simply do not have the urgency to do so. The concept of financial freedom seems too abstract and we put off till tomorrow what should be done today.
Whatever you have to do today to create that urgency for the coming week do it. Yes, tomorrow will come but the effort you put into today can have life-changing ramifications. Don’t wait until the proverbial truck is coming down the road. Work like you need the money desperately today and don’t be surprised if shortly if you make true progress towards your end goal of financial freedom.
Chart of the Day
SPY
The SPY, a popular ETF that tracks the S&P 500 has closed above the weekly 5-EMA for nine straight weeks, the longest such streak of 2018. Favorable market conditions and another solid earnings season have been behind the recent bullish move. With the Unemployment Report this Friday as the headline event, we enter another week of favorable conditions as long as the geo-political front continues to cooperate.
Video of the Day
Learn Options to Leverage Your Trade
Coach T teaches how options can give you leverage when you’re trading in this video from Tackle Trading.
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.
