The Aussie market wasn’t spared from the big volatility drop the US market had in the first week of February. It’s indeed true what they say, “When the US sneezes, we catch the cold.”
It’s interesting to see the psychology and watch how traders react to moves like this in the market. Sharp moves create fear and panic and emotional trading decisions. It’s very important to stay in tune with the charts, the market trends and most importantly have a good money management strategy that allows you to handle all scenarios that can occur in the markets over time.
If you have been viewing the charts you will see that the recent pull back has been a snap back to a longer term trend line. The charts help provide that bigger picture.
Watch my latest newsletter video update and see what I mean. Let me take you through the charts and view the current market action with an update on some of my trades.
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/news/
| Market Video Update |
There was certainly a lot of action in the market over the past few weeks. So how did some of my trades fare? Watch on and see my video update below.
If you have any difficulties playing the video from this web page you can watch it directly on YouTube from this web link: https://youtu.be/NtCKU1aaV2Y
Trading doesn’t have to be complicated. You don’t have to be bogged down with too many indicators and rules. Keep it simple.
If you want to discover how, check out my Ultimate Smart Trading Mentor Course now.
In this course, I share everything I do and use in the market, so you too can replicate the same or adapt it to suit your personality and lifestyle and help you to be in the best shape as a trader in whatever market conditions there is.
With my trading plan, system and rules guiding my actions in the market, my trading routine takes no more than 15-20 minutes per day. I usually just run a market scan across a folder of shares and if something in the report comes up that meets my criteria, I will enter into it. From there, it’s all about the money management and following my trading plan.
I trade the markets predominantly with two systems. My long-term weekly system buys and holds healthy shares anywhere from a few months to a few years. I will cut the shares that do not stay healthy and keep the losses small and the ones that remain healthy for the longer term I will continue to add to and build positions in to maximise on their growth and create those bigger wins in the market. My medium-term daily system has a shorter hold time and focuses on swing trading and holding CFDs from a few days to a few weeks.
So if you are ready to get inside my head and understand how I think as a trader and discover more about my trading systems, the various trading tools I use, my money management strategies, trading routine, market exposure guidelines, other trading strategies I employ during different market trends and more, then head on to my site and check out my Ultimate Smart Trading Mentor Course now.
| Finally |
It may be difficult to keep that optimism with the noise the market is creating. It’s important to stick to your trading rules and not let emotions get in your way and affect your action in the market. Having strong money management rules in your trading strategy helps to keep those emotions intact.
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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