A trade in hand is worth two in the bush

Well, crap.

Yesterday I went and wrote up a little ditty on Focus and how important it is, especially in fighting off FOMO.

Maybe I should have used this other Focus quote?

Actually... 

It doesn’t matter.

In fact, it’s a lot like trading.

See, often I’ll look around for a good trade idea, find one, place my trade, and then look around at some others. Sometimes I find a much better looking trade idea and think, “oh man! I should have done this one instead of that one!”

But do I ever exit a trade early to put it on a new trade?

Nope.

I don’t because I’m thinking on the longer time horizon, knowing that statistically one trade idea doesn’t matter. In the end, I’ll come out ahead, and make around 1.5% per week along the way.

Just like the old saying goes, “a bird in the hand... “ well, you already know the rest.

Yahoo Finance

Why it matters …

I almost put no headline at all. Here’s the reason. On Yahoo Finance when I checked for the latest financial news, there were ZERO headlines about the government shutdown. I actually asked Google if the government was still shut down, thinking I missed the news. No, we are still shut down, but the markets and financial folks simply don’t care about it. I find that fascinating!

We expect a pause today, but this steamroller keeps moving forward. No doubt there will be a pullback at some point and the almanac indicates it should be today, but the market seems to want to motor forward.

Comments: We are looking mixed today. A little up, a little down, but basically flat. Gold has been on a tear lately. It keeps pushing forward toward $4000 per ounce. I remember back in high school (the stone age, this is old Rick), gold shot up to over $800 per ounce. If they could see us now!!

Trade the system, sip a latte and smell some rose-scented premium decay!

My Bravo scan picked up a trade idea with a 1.48% return on risk into this Friday’s expiration.