Have you seen our live shows? Join us for “The Trend” each market morning at 9:00AM EST, and “Beyond the Bell” at the close. See what’s trending in the markets and find out what our traders are watching each day! Check them out on the “Insights” tab.
When the going gets tough, the tough trust their process.
Having a process for getting into and out of trades is vital. A series of steps that are followed no matter the market conditions. Steps that take into account your asset class(es) of choice, personal risk tolerance, favorite chart patterns, timeframe, etc. Last week tested most swing trader’s process. When you feel a little unsure, you have to ask yourself if you’re trading for the sake of trading or because you see a setup that fits your style and process. As the new week opens we need to be sure we’re trusting our process. If we’re not, it means we haven’t put in the time and effort to have the confidence we need to trade (or not trade) when the market conditions are as erratic as they were last week.