What I'm Reading
Well, I broke my New Year's Resolution once more by starting another book without finishing one. It's a sickness. I get a package in the mail, rip it open, and start reading. This week I started The Rational Optimist by Ridley. It's yet another one of those Tim Ferriss finds (in this case, from Tribe Of Mentors). So far, I haven't been disappointed by anything mentioned. I'm not sure what I'm looking to get out of the book--maybe that things aren't as doom as gloom as they seem, maybe a little insight into human psychology to help me with my trading (which eventually will help you). Based on staying swamped this week, I didn't make much progress. I'll give you a thumbs up or down soon.
What I'm Thinking About
I'm still thinking a lot about the macro vs. the micro. Life is really made in minutes. It often only takes a minute to do the right thing-both in life and markets. Take a minute to place a trade you should and take a minute to breath when you feel the urge to take a trade that you shouldn't. Take a minute to say "Hey honey, do you need help with those dishes?"-vs. waiting a few minutes until they're almost done. Somebody's guilty of not practicing what they preach. Oops.
What I'm Trading
Once again, not much. I've been keeping an eye on Forex for major transitions, looking for an angle on the hourly charts. Ditto for the crypto pairs.
In stocks, there's not much going on either. The choppy market is a market that you don't want to touch with a 10-foot pole. DO NOT get sucked into reversion to the mean trading or selling options because some guru is making it look easy. As I preach, "that'll work until it don't." It really is a great way to have a really brilliant but brief career. We're still short 2 stocks in the model portfolio and watching an IPO or two.
This Week's Content
In working on the member's area (see below), I continue to find some decent content (and a few turds). Anyway, I found this article on micromanagement: The One Thing That Often Stands Between You And Your Success. I've received a few thank yous for this. Well, thank you! You made my week.
For the chart show, I thought now is a crucial time to take a look at the charts! Using current charts, I discussed What You Need To Know To Stay On The Right Side Of The Markets.
I also worked on my presentation for Saturday's (04/14/18) Wealth 365 presentation. What they need to hear is the importance of money management and trading psychology. What they want to hear is methodology, so I'm going to teach that while sneaking in a little bit of psychology and money management.
Same as last week: I'm doing a tremendous amount of work on the website back end. Again, the ultimate goal is to enhance the user experience. I'm making a lot of progress. Of course I'm biased, but I really think I have something special here.
Again, I'll let you know when it's far enough along to introduce beta testers.
The Holistic Trader
Holding yourself accountable is 95% of the battle. Try it in trading if you're brave enough! Knowing that I'd have to put something in this column got me off my buttocks to log 20-something miles on the Peloton and walk around 6 miles. I'm not going to win a marathon, but I moved a little. Diet, well, maybe next week. Mind, well, maybe I'll get around to meditating next week.
Again, I've been working to get back on schedule with appearances both here at DaveLandry.com and elsewhere. On 04/14/18, I'll be presenting at the Wealth 365 Conference (online). On Monday 04/16/18, I'll be the host for the Crowd Forecast News program. Join us! On Thursday, I'll be playing the role of Dave Landry in Dave Landry's The Week In Charts.
May the trend be with you!
P.S. Now that you know what I've been up to, leave me a comment below to let me know what you've been doing.
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Dave Landry has been actively trading the markets since the early 90s. He is managing member of Sentive Trading, LLC (est 1995) and author of 3 books of trading including The Layman’s Guide to Trading Stocks. He has made several television appearances, written articles for numerous magazines, He has spoken at trading conferences throughout the world (including Russia, Hong Kong, Australia, Germany, Italy, and others). He has been publishing daily web based commentary on technical trading since 1997. He has a B.S. in Computer Science and an MBA. He was registered Commodity Trading Advisor (CTA) from 1995 to 2009. He is a board member of the American Association of Professional Technical Analysts. Dave can be reached at www.davelandry.com
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