Hey friend,
Let’s see how markets have been moving.
The Daily Direction
Note: It seems patently ridiculous that something that happens every year would keep bringing markets down – but here we are. Another negative close thanks to the incompetents in Washington.
The Daily Nugget
When the market is “irrationally” moving down – it can be even more difficult to stick to your stop losses. But you still must do it.
It doesn’t make sense for the debt ceiling standoff – which happens every year – to bring the markets down as much as it has.
So, if some of your trades have been hitting their stop losses recently, it can be difficult to stick to them.
It’s easy to rationalize that the market will “surely” come to its senses, and that it’s okay to ignore your stop losses when the market is “obviously” irrational.
But you should stick to your stop losses nonetheless.
Otherwise, it becomes too easy to keep rationalizing why it’s okay to keep ignoring your stop losses in the future.
Your trading discipline can start to slip – and with it, your trading results.
This is the tough part.
That’s why Ross Givens includes stop losses with every trade idea he shares – no matter how high-percentage they are.
Because here’s the thing, sticking to stop losses is how you keep your losses small, so you have enough capital to try another day.
And there are always opportunities you can shoot for another day.
Here’s how you can spot them – for less than a dollar.
The Traders Agency Team
P.S. Want special trade prospects and potential market moves from Ross sent directly to your phone so you don’t miss out on anything? Text the word ross to 74121 now.
