I don't think the majority of people realize just how much effect rising rates will have on just so many areas of our economy. Ultimately, I think the rates never should have went down so much to begin with. That's because it discourages savings which means people don't use their money well. They make dumb purchases. But if spending slows and savings start to grow, that's going to change a lot of the hard numbers are drive people out of business.
Good morning Stockaholics! Happy St. Patrick's Day! Here are your pre-market stock movers & news on this Friday morning- 3/17 Friday Market Movers & News: TIF, ADBE, CAT, VRX, NFLX, AAPL, BA, C, GOOS, NOK, TXRH <-- click there to open! I hope you all have an wonderful trading day ahead today on this final trading day of the week.
Well, looks like this week will close up pretty good. Still watching for the cracks to appear, none yet.
no other news for the rest of today except for the trump-merkel news conference. I think the markets should be able to finish steady as long as trump doesn't try to grope merkel or something.
Bank stocks have done pretty poorly after the rate hike. Sentiment could have gone a little too bullish on the banks when you hear almost everyone on CNBC telling you to buy the banks
Started something new this week. Been praying a lot and trying to find some calm in trading. I can't tell you (Because you probably already know) just how much fear and greed can screw up your trading. I'm pretty good at trading the E Mini futures, as long as I'm patient for an entry, don't get scared and exit too quick, and don't hold for too long. So I basically came up with a plan to put 12 ticks stop price and 6 ticks take profit price. This quickly went out the window as it was just over simple and didn't seem to me to go along with support and resistance areas. Ah well, the best laid plans, right? Here is my results. I tried to stick to 1 trade per day, just to see how I would do. Wait for the best possible set up, then trade and take the win as soon as it came (6 to 8 ticks usually). Today ended up being a winner but only after the 3rd trade. The first trade I exited at trade entry, which I immediately regretted because I moved my stop way too soon and could have easily made the 8 ticks if I'd have just waited. The second trade I lost a little. But the 3rd trade I made money. As you can see, I didn't make much money all together because why? Because of the stupid FEES! I made $600 this week (Nothing to complain about) but paid almost $100.00 in fee's to TD Ameritrade. Yeesh! The house always wins, I guess? That's 16% of my profits that TD Ameritrade took. And if I didn't make money, well, they'd still have taken their cut. Anyway, every day went well except for today, Friday. I think it was because I was feeling a lot of pressure to make today 5 wins in a row and I pushed myself to trade too much. Also, some other trades in my account weren't doing too good and I was negative on the day and I felt pressure to make my account green for St. Patricks Day! I failed as I ended the day exactly flat (or .01% down, except this changed to flat for some reason, dunno why). Can't wait to see my results next week.
