So, what’s covered in this month’s newsletter:
- Market Update
- Trade Update
- Exclusive Webinar Event: Adventures of a Trader Webinar (two time slots available)
- Trading Story Podcast: Writing Trading Plans Why is it so Crucial to Develop a Trading Plan?
If you have recently subscribed to my website, or for some reason you did not receive my last newsletter email, you can view the previous newsletters from this web link:
http://smarttrading.com.au/wp/news/
| Market Update |
The Aussie market is at a significant point right now. It has recently broken it’s down trend line and is trading near a key resistance area. If it can break this resistance this will be a very healthy sign for the market. It has not moved beyond this level in over nine months and tested it yesterday. The US markets are also continuing their consolidation and have moved to the higher end of their trading range.
With the Australian federal elections not too far away and US elections later this year it will be interesting if a break is possible or the markets will remain stagnant with the current parliament uncertainty. Of course I don’t like to predict and anything is possible. Right now I am very much enjoying the ride back up in the Aussie market.
You can see the current trends of the Aussie and US markets through the charts of the ASX200 and S&P 500 below.
Weekly Chart of ASX 200 Chart as at 11 May 2016
Below is a weekly chart of the ASX 200. It is showing us clearly that it made a surge back up and has broken its downtrend line. We won’t know exactly if it will become healthier or if it will continue to consolidate. Only time can tell what will happen next.
(Click on the image to view a larger version)
Weekly Chart of S&P 500 Chart as at 10 May 2016
Below is a weekly chart of the US S&P500. It has been consolidating for quite a period of time and it may stay in the same zone until the next President is elected. Nobody really knows. It will be interesting to see how it moves in the coming months.
(Click on the image to view a larger version)
| Trade Update |
Right now I am enjoying the ride back up in the Aussie Market and have some nice trades running. Check out this chart of a trade that I entered into on 14 March when it broke resistance and came up in my market scan that day. This trade is still running and still open right now.
(Click on the image to view a larger version)
Of course not all trades turn out this way and you need strategies in your trading plan to handle all scenarios. My key strategy is my trailing stop loss and if after a period of time a share does not perform and this stop does not move upwards my time stop will kick in, as it did with this trade below.
(Click on the image to view a larger version)
I cover all these strategies and more in my Ultimate Smart Trading Mentor Course.
The course includes 15 webinar videos that I personally recorded, downloadable audios from each webinar, comprehensive course notes and additional practical short videos showing how to put what you have just learnt into practice.
You also get an extra special bonus of becoming a part of my exclusive Smart Traders Mastermind Program where you receive monthly video market updates, an invitation to several webinars throughout the year and access to a private discussion forum so you can connect with a community of traders that have all been through the course.
So, make sure you check out my Ultimate Smart Trading Mentor Course.
If you want to get a taste of my strategies as a trader and how I go about my everyday routine, why not join me in my upcoming webinar and find out what a day in a life of a trader is all about. Read on below for further details.
| Exclusive Webinar Event: Adventures of a Trader |
I have been invited to present at a few events this year including the MetaStock Conference and ATAA National Conference. Unfortunately, I have had to decline as the dates did not suit me due to family commitments scheduled at the same time.
Since I don’t have any planned events, I am going to bring my latest presentation to you via webinar. I’ve set up two time slots for you to choose from — one during the day and one in the evening. So those who work during day have an evening option and those who work evenings have a daytime option.
What will I cover in the webinar?
As a technical trader I have developed a trading system to trade all market conditions, streamlined to fit my lifestyle, which only takes me 15 minutes of my time per day.
I will showcase exactly what I do during my trading time each day. Including how I run a daily market scan, review the shares in the report and select a trade based on my trading rules. Then, I will show how I position size the trade according to my risk strategy and place the trade in the market with a stop loss linked to it. I will also tackle other trading actions I take and feature some of my current trades. All in a day of a trader plus more adventures.
To register for the webinar, click on the link of your desired time slot below:
Monday, 23 May 8.00pm to 9.30pm
https://attendee.gotowebinar.com/register/4698648966572410115
Tuesday, 24 May 12noon to 1.30pm
https://attendee.gotowebinar.com/register/2893111235797190148
| My Trading Story Podcast interview with Brandon Clay |
Have you had the chance to listen to my Trading Story Podcast Interview with Brandon Clay?
My interview was the first one Brandon Clay has done on trading plans. He could not believe it took him over 100 interviews to finally have a trader talk about this key topic in detail plus many more gems. During the podcast, I also talked about how I transitioned to full-time trading while being a Mum, CFD trading, my most painful trading experience, managing open market risk, writing a good trading plan and so much more.
By the way, Brandon Clay has interviewed over 100 successful traders and authors in his Trading Story podcast series. The podcasts gives practical strategies, inspirational stories of real life struggles and triumphs in the market and simple explanations for sometimes-complex trading concepts.
If you missed it, you can still check the recording from this link:
http://tradingstory.com/podcast/107-writing-trading-plans-with-justine-pollard/
You can also access it on iTunes. Just search Trading Story on your iPhone or Ipad or you can go directly to it from this link and you will see my interview at number 107: https://itunes.apple.com/au/podcast/trading-story-trading-interviews/id986643659?mt=2
| Finally |
The uncertainties in the market can make a trader lose their confidence and make decisions which they might regret. They can also lose patience and call it quits. It is important that you stick to your trading plan when you are faced with uncertainty and have a strategy for handling different kinds of market trends. Trading is not for the faint-hearted after all and it will challenge you at different times.
Make sure you sign up to one of my free upcoming webinar sessions and discover what I do each day in the markets. I look forward to sharing more with you during the special webinar event.
Cheerio for now
Justine Pollard
Author, Private Trader & Trading Mentor
‘Discover the Smarter way to trade’
www.smarttrading.com.au
justine@smarttrading.com.au
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