Hey friend,
Let’s see how markets have been moving as we start a brand-new trading week.
The Daily Direction
Note: Mixed jobs data on Friday again stoked rate hike fears, sending markets to a negative weekly close. Nevertheless, there was no change in any index directions.
The Daily Nugget
Understand the difference between process and outcomes.
A good process will tend to lead to good outcomes – but will sometimes lead to bad ones.
And vice versa, a bad process will tend to lead to bad outcomes – but will occasionally lead to good ones.
That’s just the way it is in trading. Nothing is guaranteed.
The best we can do is swing the odds in our favor, to stack the probabilities on our side.
And the way to do that is by sticking to a good process – even if it occasionally leads to bad outcomes.
Over time, process (aka strategy) is what matters most.
For example, one of Ross Givens’ top processes is to buy pullbacks where the leading stocks are still showing signs of strength.
That’s what happened a couple weeks ago – and that’s what’s happening now.
Those who followed his process two weeks ago could have made out with gains like this one:
And the odds of pocketing similar gains this time around are just as good.
So, if you don’t have access to Ross Givens’ “pullback” strategy already…
Make sure you click here to get it.
The Traders Agency Team
