Hey friend,
As we close out the trading week, let’s see how markets have been moving.
The Daily Direction
Note: After four days of losses, the market rallied strongly on Friday – led by shares of Apple and the regional banks – sending many index directions back upward once more.
The Daily Nugget
Price action = confirmation
Whenever we make a trade, we have a “thesis” – much like a scientist does. A very basic template of such a thesis would be “I believe Stock X will see a strong breakout because of Reason Y.”
But how do we know whether our thesis was correct or not? The answer is the price action.
The subsequent price action will either confirm or refute our thesis.
And when it does, we MUST be able to accept it. Easier said than done, of course – which is why so many traders end up “chasing” losers and falling deeper and deeper into the red.
That’s how Ross Givens treats his trading – like a scientist.
And it’s also why his students are so ecstatic to follow his guidance, because his “primary thesis” on the main driver of stock prices has been confirmed time and time again.
Learn more about Ross’ “primary thesis” here.
The Traders Agency Team
P.S. Want special trade prospects and potential market moves from Ross sent directly to your phone so you don’t miss out on anything? Text the word ross to 74121 now.
