Your Almost Daily Bit of Wall Street Wit & Wisdom

h/t Shutterstock

“We typically trade our beliefs about the market, and once we’ve made up our minds about those beliefs, we’re not likely to change them.  And when we play the markets, we assume that we are considering all of the available information.  Instead, our beliefs, through selective perception, may have eliminated the most useful information.”
— Van K. Tharp

You are the most important factor in your success.  Understand and overcome your biases.  Use a trading system that’s right for you.

I believe that mind, method, and money management are the cornerstones of your complete game plan for trading success.

FYI: Our latest option recommendation, on Barrick Gold Corporation (GOLD),  is trading +30% in one day on a 2% move in the underlying shares, with an always known and strictly limited risk!

That’s the Superleverage power of my method on display.

If that’s the type of options action you’re looking for, click here to subscribe to Options Hotline today.

Let me know if you have any questions.  My email never sleeps.

Good luck in your trading!

Best regards,

Steve

Your Almost Daily Bit of Wall Street Wit & Wisdom

glider

Torrey Pines, La Jolla, California h/t flytorrey.com

“You have one hundred hours. You think you understand it. You know how to thermal, you’ve done some cross-country trips, you’ve been up to the cloud base, you’ve flown twenty miles, and you think you understand. Then you push it. Look out!”
— John Bouchard

Beware the danger of success.

Be humble.

Survival lessons in life are applicable to trading.

Best regards,

Steve

 

Your Daily Bit of Wall Street Wit & Wisdom

D-Day

U.S. Army troops in an LCVP landing craft approach Normandy’s “Omaha” Beach on D-Day in Colleville Sur-Mer, France June 6 1944. h/t Army Signal Corps Collection/U.S. National Archives/Handout via REUTERS/File Photo

“Once the fight starts, you forget what the fight was about.”
— Tom O’Brien

Each day buyers and sellers slug it out in the market as they struggle for control of price direction.

On this 75th anniversary of D-Day, let’s never forget those who fought for freedom then.  And let’s remember to do what we can to fight to protect freedom today.

With gratitude,

Steve

Your Daily Bit of Wall Street Wit & Wisdom

whipsaw

Two men whipsawing lumber in British Columbia circa 1898 h/t Eric A. Hegg

“Consolidations are traders’ markets, in both directions.”
— Steve Rhodes

Markets move between areas of support (demand) and resistance (supply).  In a large market consolidation, whipsaw action is not unusual.  It provides opportunity for nimble traders to profit from moves up and down.

Option buyers are the only ones who possess the Superleverage power of unlimited profit potential with an always known and strictly limited risk.

Good luck in your trading!

Best regards,

Steve