Hey friend,
The latest data showed US manufacturing expanding to a seven-month high.
But this was offset by data showing the services sector was contracting.
Consumer sentiment also declined slightly – the first dip in six months.
Markets opened slightly lower in response.
The Daily Direction
Note: All indexes closed higher yesterday, with no change in any index directions.
The Daily Nugget
Don’t confuse predictions for strategy.
So many traders – especially those just getting into the game – make this mistake.
They think an expert trader buying a stock is the trader predicting the stock will go up.
There’s a subtle – yet important – difference here.
Expert traders follow strategy…
And strategy is a process – not a prediction.
Buying a stock according to a proven strategy is an intelligent probabilistic bet. It’s a decision made according to a predetermined process.
Predicting a stock will go up – and then buying it – is more often than not just wishful thinking.
From the outside, both can appear the same.
But if you want to truly advance as a trader, you need to understand this subtle difference.
If you don’t truly grasp this difference yet – that’s perfectly fine.
We all have to start somewhere.
But keep following people like Head Trader Ross Givens…
And sooner than you think, you’ll understand the difference between strategy and predictions.
Enjoy the weekend.
The Traders Agency Team
