≈ Keep It Simple = Success. ≈
Beth Salamanca here.
“Keeping It Simple” was something mentor Tim ingrained in me. Back then, I was way too complicated: I over-researched, over planned, and over paper-traded. I’ve grown quite a bit since then, but I can still revert to type unless I remind myself about KISS!
Over time, and with the help of Elite Instructor, Micah Brooks, I’ve been able to crystallize with a laser-like focus on what my trading is all about:
My KISS philosophy is to be a nimble active trader, rotating stocks and strategies depending on market conditions. I never enter more than two trades a day. I sell options when implied volatility is high, and buy options when IV is low. I use a high probability of profit (POP) of 85% or better. And I always have a predetermined exit strategy.
This way, I clear out the noise while increasing my profitability. No wasted motion. No bad habits. I stay focused on what works for a changing trading environment, and I have the profitability odds on my side. I’m not skilled in all of the options strategies–only the basic ones. Nonetheless, we can still profit from doing the strategies we know, and doing them well.
In life, I learned success is not only what we do, but also what we don’t do. My KISS formula is a simple program for a complicated person. It keeps me on track doing what I need to do and keeps me out of the weeds on what I need to avoid. It allows me to use my limited time wisely to achieve results. Finally, it focuses me on doing what I can—when I can, and prevents me from spinning my wheels on doing what I can’t. You too can achieve trading success using the “Keep It Simple = Success” method.
For more details, check out my blog, “My What: K.I.S.S.”.
Chart of the Day
Accenture Break Out
Accenture’s Q2 earnings shows strong performance reflecting continued demand for their consulting services and execution of their growth strategy. Revenues of $10.5B. Raises business outlook for Fiscal 2019.
Video of the day
How the FED uses economic data to adjust policy
Starting with the unemployment report, Matt begins to talk about how the Fed uses economic data to adjust policy.
Today’s line up
Searching for Profits in the Google Pullback
As I was scroungin’ around for an idea to write about, I started thumbing through my carefully curated watchlist and came across a beautiful chart. One that demanded my attention and, indeed, affection. I’ve been staring at it for minutes now, and the connection is undeniable. But I’m not selfish. My mother taught me to share, so share I will.
Traders Lounge 11PM EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
Cash Flow Club Replay
If you missed last night’s episode where Coach Tyle Craig talked about chart reading, technical analysis, and indicators or would like to watch it again, check it out here.
Women in Trading Live Webinar 8:00PM EST
Once a month we’ll be hosting a live webinar featuring Women In Trading. Get in the game!.
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.
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 Episode 314: Emily Muiruri on Women in Trading
In this special episode, Matt Justice interviews Emily Muiruri, a long-time friend trader, investor, and Coach, dedicated to bringing financial education to women through her project Women in Trading at Tackle Trading. Listen to the
Financial freedom is a journey
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.
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 involves 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 advisers, to determine whether such trading or investment is appropriate for that user.