Happy Sunday, Traderade Family! I sincerely hope you all enjoyed some time away from the trading screens...we're all in need of a break after last week. And that's exactly what I'll be giving myself this coming week: a break.
Why? Long-time readers know I absolutely hate trading "big tech" earnings week (i.e. Apple, Amazing, Microsoft, etc.). In fact, I hate this week so much I even dread writing my Weekly Market Prep! Big tech earnings week has destroyed more well-thought out trading plans than anything else. I know my strengths/weakness in trading, and I've traded enough of these big-tech earnings to know that in the long-run my P/L is better off sitting out or trading very lightly.
So if you don't feel like looking at charts today, let me save you some time: Just don't trade this week.
Easy, right?
Well it should be that easy, but I know it isn't. We're all here because we're obsessed with financial markets and trading. I get it. But truthfully, there are certain weeks of the year that can do serious damage to your performance quickly if you're not careful...this is one of those weeks. So before we begin, no matter what you do, please be careful. Trying to be a hero during this level of market volatility is reckless. Save that childish stuff for the people that like to brag on Twitter to boost their ego's. Real traders are in it for the long-haul and trading light for a few weeks per year isn't a big deal.
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