Do This. It’s Easier
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Stocks continue to melt higher in the face of a tsunami of headlines warning of the pending recession, higher interest rates and the bank crisis. Bearish traders are hoping reality sets in as their shorts slowly drain their trading account, while bullish traders tepidly buy stocks with the conviction of a five year on the edge of a diving board for the first time.So both sides are cautious, which side is winning?No matter how you see the near future, the list of stocks with bullish order flow is nearly triple the size of those bearish. Does that mean we buy aggressively?Well, under normal circumstances, yes. Especially with the VIX still hovering below $20, which is fantastic for bullish swing trades. But this isn’t normal circumstances.And that’s where most rookie traders get this business wrong. They trade in a vacuum. They don’t add up the pieces for the right kind of risk, and likely profits.They make the mistake of simply trading off setups, and they don’t include volume, or pending market shattering news. Such as the economic data and banks reporting this week.Smart traders are working share size and booking some cash flow while the market prepares for the pending volatility on Wednesday, and Friday. Right now there’s hedging going on behind the scenes. Protecting open positions and maybe even opening some trades in the other direction, just in case.But who is winning? That’s easy.Those focusing on the present moment, reading the tape. Stop predicting and worrying about where stocks might go. Focus on where they are going.It’s easier, less stressful and infinitely more profitable.
