Good Morning,
There is something to be said about surrounding yourself with better people. I created a local trading/investing club a few years ago and had 2 emails on the list. We now have 120 emails and a monthly gathering of 8 to 20 people. Of these, a few are regulars who absolutely love the financial markets and between the two of them, bring over 70 years of trading experience.
While living in Chicago, I was able to have this type of banter on a daily basis with my team. Now, trading from a remote location, that "banter" has become less frequent. Many times, not having another opinion from another source or another set of eyes, can lead to poor trading decisions.
Last night's meeting, where I act as the host/moderator and come with some high level topics, was another learning experience for me. I give my synopsis of the fundamental and technical pictue and the open it up to others. Most of the talking is done by a few people, but I make sure that the audience is understanding the core concepts and most of all TRADING PSYCHOLOGY that these markets demand.
One subject we got onto was the dealings of capitol hill and financial regulation - the conclusion was that this type of regulation could "halt" commerce as it has been done in the past and power seekers may interfere with the normal workings of the markets. All of this is good if you can handle volatility and are prepared to trade it appropriately.
We wrapped up by acknowledging the bull market and realize standing in the way of it can be suicidal to your account. Just as important, we agree that the markets, providing there isn't some unforseen bearish act, that there is an underlying bid to the equity markets and that "dropping out of bed" doesn't seem realistic.
Until this bull market finishes its run, VIX may stay closer to 20 and intraday trading ranges may be a fraction of what they normally are.
On today's "Connect Site", where you can follow me under "thelocalstake", I talked about fading the moves. If equity markets back off a bit, there could be some USD strengthening.
Happy Trading and Be Environmentally Cool
Coach Brian
From bond futures in Chicago to forex in Park City, I enjoy reading market flows to determine price movements. As an educator and coach for traders and investors, I enthusiastically profess: trading psychology, fundamental and technical analysis, and "inter-market relationships" in order to provide low risk, high probability opportunities for growth, income, and portfolio hedging. A Colorado Buffalo, I enjoy skiing and maintaining an active, environmentally conscious lifestyle: LocalsHaveMoreFun
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