≈ Learn to move on from old trades ≈
Have you ever been stopped out of a trade, just to see it rip into profitability over the next few days?
Have you ever missed a trigger on a stock you were waiting on and then see it make a big run?
Have you ever hesitated to decide in the moment and then dwell on it?
If you have not, you are not human. We all have emotions. Those emotions and the psychology around decision making can be stressful if you dwell on it.
It is not an easy thing to do, but it is important to be able to simple move on in life and trading. Spend time to learn from the actions you have taken in the past. But do not dwell on those actions if they prevent you from trading today and making the best decisions you can with the opportunities in front of you.
As markets move up and down and as you run your daily routine you will have to make countless decisions over the course of days, weeks, months, and years as an individual investor. Learn to stay focused, stay in the ‘Zone’ and do not let your mind dwell on the past. The most important time, is right now, live in the moment.
Remember the wise words from Lao Tzu:
‘If you are depressed you are living in the past. If you are anxious you are living in the future. If you are at peace you are living in the present’
Trade at peace.
Chart of the Day
Union Pacific Corporation
Union Pacific Corporation (Ticker: UNP) is up 1% in early trading Tuesday. It was a bullish candidate on this week’s Options Report. Review the report here: https://tackletrading.com/options-report-sep-12th-2020/
Video of the Day
When bull call debit spreads go bad, NFLX
Coach Noah discusses how to manage a Bull Call gone bad using Netflix (ticker: NFLX) as an example in this video.
Today’s line up
Traders Lounge 11 AM EST
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Halftime Report 12:30 PM EST
The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.
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