Hey Guys,
This is the first morning in a week that the market wasn't up to start the morning. Even so, the S&P 500 is down only 20 points from its Friday close as of the time I'm typing this.
There haven't been any new trades yet today. And I don't have any open positions right now. So it's quiet here today, which isn't particularly fun, but which also isn't abnormal.
Since my trading approach is one that is rules-based, and since I want to stay in lock step with the backtested approach, it means that I simply follow along with the trading rules wherever they lead. And sometimes, that means having days (or strings of days) with no trades. And to me, that's ok. I don't want to be forcing my way into trades if they don't have any historical basis of success.
So on days like today, I stay patient. I have orders set up for the tickers at the top of the watch list, as always.
If you have any questions, just reply directly to this email.
Eric