Traders,

There are only so many mistakes you can make as a trader. The best investors make a mistake once or twice and then change their behavior. They have a process to spot errors and put plans in place to avoid them in the future. The worst investors make the same mistake over and over again. Because they lack a process for analyzing their decision-making and rules, they never really improve.

If you find yourself more in the latter group than the former, then now is the time to change. If you haven’t already, take time this week to review your trade journal and system design. What trades worked best? What trades weighed on your performance? What can you do differently in 2023 to improve?

It should go without saying, but if you don’t have a journal or concrete trading system with rules, then that’s where you should start. You need data to draw conclusions from. Knowing if you generally made or lost money in 2022 is altogether insufficient. The details matter. And you don’t have details unless you have a trading journal.

Happy New Year!

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Trading for Beginners: Gino’s Gems – The Number 1 Simple Trend Indicator

In today’s Gino’s Gems, Coach Gino talks about The Number 1 Simple Trend Indicator.

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Chart of the Day: Gold Miners (GDX)

Gold miners are jumping out of the gate this morning. Watch to see if $30 resistance finally fails.  

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Today’s line up

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.

The Coaches Show 8:30 PM EST

This is our weekly MasterMind group. Join the coaches tonight, 8:30 PM 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.

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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.

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