By: Steve Smith
As I sit at my desk writing this I am looking out over the ocean and anticipating a nice swim and a few hours on the beach reading a mystery novel.
If you’ve been with me long, you know I love mystery novels. Except for the news, it’s about all I read.
As for the market, it’s still in flux.
Compared to historical patterns, it is behaving erratically…
And I am getting loads of emails asking what is going on.
Frankly, while I am familiar with the stock and options markets – all of the inner workings of global politics, banking, the Fed, and the government is a bit above my pay grade.
Not that I couldn’t know. I could easily deep dive into the nuts and bolts of the entire system…
I just don’t because you don’t need to know all that stuff to be a successful trader.
In other words, when it comes to trading all that deep dive stuff might be interesting but it’s not profitable.
I stick to what helps my subscribers and me find and put on profitable trades.
Here’s my point, if you are interested in all the global economic news, watch it.
Lord knows I’m a news addict.
But don’t think that is going to help you be a better trader.
Just look at the last few weeks. The market got slammed when Russia invaded Ukraine.
That makes sense.
Then when the Fed raised rates, gas prices soared, and the US put sanctions on Russia and some Chinese officials…
The market had an incredible couple of weeks.
Had you asked me 3 weeks ago, I would’ve said all of that would drive the market down more.
But here we are.
Watch the technicals. Find solid entry and exit points.
And structure your trades to protect you if a trade goes against you. If you do that you can turn off the news.
Better yet, let me do all the grunt work for you…
And we can all make some money during this crazy time in the market!
Now I’m going to jump in the ocean.
To Your Success,