Hey friend,
Let’s see how the markets have been moving as we enter the middle of the trading week.
The Daily Direction
Note: Another largely downward close for the indexes yesterday as markets looked toward Powell’s Jackson Hole speech later this week. No change in any index directions, however.
The Daily Nugget
Every trade has two costs – the cost of entering the trade, and its opportunity cost.
Most people only consider the first cost – how much capital they need to risk to get into the trade.
But they rarely think about the second cost – the opportunity cost, the cost of not taking a trade (with that same capital) that could have been more optimal.
There’s nothing we can do to eliminate opportunity cost.
But we can always keep it in the back of our minds – as a reminder to not be reckless when entering trades.
If the market is not conducive to your strategy right now – just don’t trade for a while, and save on both costs. You’ll do better in the long run.
The Traders Agency Team
P.S. If you’re looking for a strategy that’s suitable for the current market environment, Ross Givens is going LIVE later this evening at 7 p.m. Eastern to show it to you in person.
Just click here to save your seat – and he’ll see you in a few hours.
