Regardless of your political persuasion we do have an impact to the market. Now, we have been on quite a tear and it would not surprise us to see the market pullback. What kind of pullback? Remains to be seen. However, we must remain disciplined in our approach to the market and we cannot make emotionally driven decisions. If we have seen the top and a stock market is set for a larger correction even a crash, we will be prepared. The market will give us signals in advance via distribution days and stock market leaders failing. We will wait for those signals to hit before we act prematurely. There is always something with this market and 2020 will certainly be a year providing a few fireworks.
Preparation will be key for those who want to achieve higher returns than the market itself. If you do not have a plan going into the trading day you can expect to see lackluster results. The greatest traders of all time have always been well-prepared ahead of the trading day. This game is not an easy one and one you cannot perform well if you are ill-prepared. Big Wave Trading helps traders with trade ideas each morning there are signals. Our subscribers review the signals best suit their trading plan and risk tolerance. Providing solid signals is a great value add to our subscribers as we are providing the best potential big movers.
There is a big data dump tomorrow for economic data. When was the last time economic data mattered other than the jobs report? Even then, the impact these economic reports have on the market have diminished. We have never paid too much attention to these numbers as we have always relied on the price action of the market. Certainly, whether the durable goods number is better than expected or not. Still, ignoring the noise generated by these numbers and the financial media would do your trading a lot of good. There is no need to try and figure out if any economic data will move the market. Price action is king.
We hope you had a great weekend and are prepared for this week’s trading.
