« He is still playing his tune. »
“Enter through the narrow gate. For wide is the gate and broad is the way that leads to destruction, and many enter through it. But small is the gate and narrow the way that leads to life, and only a few find it.”
Matthew 7:13 —
The next killing system.
The next money-maker algorithm.
The magic robo advisor.
The next hot tip.
That perfect mutual fund with the lowest volatility possible.
The “20 stocks that could double your money in 2020” list.
The problem we traders and investors face every single day is that darkness does not require energy to settle in while light does. Greed is intuitive. FOMO too. Financial education is not.
That is why the battle against financial illiteracy is one of the most difficult there is in the realms of knowledge mainly because of its counterintuitivity. How hard is it to fight greed, fear, hope, and our eternal tendency for procrastination?
That magical tune keeps playing in the back of our heads every time we feel attracted to enter through the wide gate. It grabs us by the guts. Once the guts are caught, the brain will perish before we notice.
The opposite approach should be adopted, then: reinforce the brain so the guts don’t guide our actions. Reasoning before emotion. We are not buying clothes in a store but building wealth. Read a lot, educate yourself, adopt a system.
The tune the Pied Pier plays is sweet though his goal is to lure incautious traders only to further drown them into the river.
Chart of the Day
Number of mutual funds in the U.S. (1997-2018)
According to statista.com, in 2018, there were 9,599 mutual funds in the United States. While there was a slight decrease after the Financial Crisis, the number of these funds increased during the recovery.
The Pied Piper of Hamelin is still playing his magical tune.
Video of the day
How To Estimate Reward to Risk Ratio
In this video, we will show you how to use a simple tool that will automatically do the math for you and help you make better trading plans quickly.
Today’s line up
Tales of a Technician
Is the Tail Wagging Your Dog?
Sometimes I know exactly how I feel about a topic. The die is cast before I sit down to share it with others. Ask me to pen a piece on iron condors, and I know the blueprint before I begin. Other times I haven’t entirely thought through where I stand on a concept. Today is one of those instances. I’m writing to discover how I feel.
Traders Lounge 11 PM 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 #
Legal Disclaimer
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 involve 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 advisors, to determine whether such trading or investment is appropriate for that user.
