The purpose of this article is to provide some insight into potential upcoming trades and portfolio management across several markets.
The crypto market still remains dull with lack of participation from traders making it a difficult market to navigate with swing trades. As Marc mentioned in the chat group, in order to take advantage of a potential swing is to have a limit order in near where a fake-out is likely to happen.
Again without considerable volume and liquidity the markets are subject to larger players pushing them around. No different than someone with a large stack at the poker table using his chips to push players out of their hands. This is part of trading and we just need to be aware of the environment and wait for good hands.
Seldom do equities continue straight up without taking a breather. This is exactly what we are looking for is the market to take a breather, providing us an opportunity to take advantage of profit taking. Since we have closed all but one of our options trades out, there is nothing to do but be patient and let the market show its hand.
Much is on the economic calendar this week so if you are trading Forex, commodities or stocks you should be aware. We have an influx of economic data, in addition to the monthly NFP and the Fed Meeting and are entering the heart of earnings season. Plus we get the Baker Hughes rig count. Should be fun this week so break out the popcorn. More often than not events like this week lead to a lot of noise in the markets, CNBC will be shilling everything from a potential government shut down, to whether or not Elvis is still alive. Do not get caught up in the news, it is more important to recognize, market sentiment which is all around us. This was the topic of our podcast this week which you can listen to on our podcast page. Ohh and thank you for making Bill’s day with the one question we received in the chat group.
We mention be cautious not because anything will change technically in the broader term, but the interim day noise can stop you out of trades quickly. Just be aware.
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