#DOW20K, possible trade wars, tax on imported Mexican goods, “Muslim Ban” and I can go on and on.
Shenanigans of just one week. What does this week have in store for us? I don’t know; I hardly ever know.
I know the Dow Jones Industrial Average ($DJI) since hitting that psychological level of 20,000 ---going as high as 20, 125.58--- has pulled back some.
Find the Trend and Follow the Trend (trade in a manner consistent with the trend)
Today’s blog is short, straightforward and to the point. Your trade should always follow the trend. Stop fighting the trend. Meaning, if a stock is running up (you may want to wait for a pullback to long); if a stock is trending down (you may want to wait for a pop to short).
Fighting the trend is trading in a manner that is in direct conflict to the trend. I almost feel if we sat down and paid attention to our losing trades; more often than not; we were/are fighting that trend.
Understandably; there are trends within trends and the trend you pay attention to; should have some correlation to the time frame you’re the most comfortable trading. For example; if you’re a longer term trader; you might find comfort paying attention to the weekly, monthly, maybe even quarterly trend, etc.
Look at some real time examples below.
We all get discouraged from time to time and most of us have experienced some form of failure in life. While these quotes are applicable to life’s adversities; they can be applied to our path to becoming extremely successful traders. The entire point of this blog is to give you the courage to keep moving forward. Find below ShortMeTina’s top ten inspirational quotes.
When I worked in the social service field as a clinician; the first point of contact with a potential client started with an assessment or an intake. Assessments varied in form from agency to agency but the overall premise was the same. That is; it was a tool used to gather information about a potential client. Questions on the ‘assessment form’ encompassed among other things a client’s medical, educational, occupational and psychiatric history. Why was this information important to gather as a clinician? As the form suggests, its purpose was to assess the client and/or make an assessment. Assessment, defined by Oxford Dictionary, means “the evaluation or estimation of the nature, quality, or ability of someone or something”
First off, Happy New Year! I hope you and your family had a safe and wondrous entry into this New Year. I would also like to use this oppourtunity to thank our subscribers and followers for the ongoing support and continued dedication. We here at ShortMeTina are fully committed to our work and will continue to bring relevant content to our followers. Again; thank you for a wonderful 2016 and a toast to an even better 2017.
Now that's out of the way; 2016 is behind us and however we faired in regards to our trading; let’s leave it in 2016.
If you did poorly in ’16; let’s strive to do better. If you did great in 2016; let’s strive to make 2017 epic.
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