“Today we deal with 65,000 more pieces of information each day than did our ancestors 100 years ago.”
When it comes to trading, or any business venture, really, Focus is one of the more difficult disciplines.
I think Millennials especially deal with this, because we have an extra “fear of missing out” (FOMO) in our generation. I’m sure lots of people deal with FOMO, but it seems like Millennials especially do.
Anyway, when I first got started trading, FOMO kicked my butt.
I wanted to put on every trade I could (if it looked good).
Funny enough, every trade I put on always looks great to me. It’s only after the markets keep moving and the results start coming in that I look at them and see whether it was a great trade or if it was a dud.
If trading was an ocean of possibilities, FOMO makes me want to touch all the water.
But here’s some wisdom I learned early (even if it took some time to take to heart):
You don’t have to touch all the water in order to enjoy swimming.
I can choose my trades, make my money, and move on as a happy trader.
I think the discipline to ignore that fear of missing great trades and instead choosing to make the trades I make and not worry about whatever is left is key to success.
And it’s part of the reason I love my trading system.
All right, on to the day’s headlines.
Today’s Macro Headlines (Source: Yahoo Finance)
Why it matters …
More yawning by the market over the government shutdown. Well, that is not quite accurate. The market seems to be celebrating. I don’t think the shutdown can actually be positive for the market, but it is churning so well, one wonders where we might be if they weren’t shutdown.
Index Snapshot
See the Legend in the footer below
Comments:The Dow is struggling this morning, but other indexes are green. There was an announcement of an agreement between OpenAI and AMD which has the Nasdaq juiced. The almanac shows tomorrow to be a traditional bear day and there is usually a pullback in October at some point. Who knows. Just keep working the system, selling puts, and listening to the sweet melodies of “Premium Decay” …
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