Now with Dave Landry
It looks like I'll be in my 2nd office next week, so there will likely not be a Week In Charts on Thursday. Click here to register even if there isn't an upcoming show listed and you'll be registered as they are announced.
This Week's Content
I'm proud to announce that Proactive Trader Magazine has published my article 3 Indicators That Can Identify Turns In Market Trend.
Based on the feedback, it looks like another great Week In Charts is in the can! In it I discussed very simple indicators and techniques that will help to keep you on the right side of the market. I also followed up on my concerns with current conditions.
With the market recently becoming a little "iffy," I thought now might be a good time to freshen up my Cash Is Not Trash And There Are No Good Longer-term Investments
I once read that a successful entrepreneur focuses on just one thing, but gives himself a ridiculous deadline. Well, I don't have the luxury of working on just one thing, but I did have a ridiculous deadline. The drafts for pattern recognition with a major charting vendor to produce pattern recognition were completed. The good news is that they will be free! I'll have more to say on this soon. See the aforementioned Week In Charts for a sneak peak of some of this.
I updated my recommended reading page. Continue to check back often, since I have many books that I intend to add to the list.
What I'm Reading
I'm still working hard to finish more books than I start. I'm proud to say that I didn't start any new books this week (as far as you know).
My focus continues to be on trading psychology for my upcoming Master Trading Psychology course.
I've been too slammed to finish Annie Duke's Thinking In Bets: Making Smarter Decisions When You Don't Have All The Facts (I actually stopped to outline what I had read so far). This one is definitely worth reading! As mentioned last week: The book is not a book on trading per say, but it could be. We don't have all facts we make a trade. We simply take our best "bet." Life is a bet for that matter. Duke points out that we need to work hard to determine whether the decision in and of itself was a good one, regardless of the outcome. This "outcome bias" reminds me of Terrance Odean's quote that I referenced in Trading Full Circle, on sale now! LOL
Mind, Body, Soul
I'm working hard to continue to treat trading holistically.
For body: I continued with the spin bike. I never dreamed I'd do cardio, but I am. I've been trying to stand more an take a walk here and there. One day, I'm going to lift those weights that are collecting dust in the back of the office.
For Mind & Soul: I was able to get some guided meditation in but not nearly enough. I just haven't had time which means that I probably need it the most!
What I've Been Trading
I'm taking a wait and see approach in cryptocurrencies for now. I'm still contemplating hourly Bowties while I wait for something more major to set up. As mentioned in a recent "Now" update, this is what I've been doing in Forex for a while. Watch this Week In Charts for more on this. I'm (re)short EUR/USD based on this.
In stocks, I've backed off the long side while things shake out-unless I get the mother-of-all setups. I am eyeing a short or two. Get the "Go Go No Mo" free report from my store and you'll have a good idea of the stocks that are on my radar (or sign up for a trial of my Trading Service).
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.