Avoid You-Owe-Me Trades

Some very nice reversals this morning. Big bounces in precious metals, the miners, bond, equities. Pretty much everything was bought off the early morning. Unfortunately, that is all behind us.

If you missed the bounces, and it would have been hard to catch all of them, be careful about making a trade because you did miss out. It can happen. But we are past the first two hours of the trading day, so things are likely to slow.  Moves are more likely to become choppy or a very slow trend to develop. The volatility and quick action of the morning is past, yet some traders will look for a you-owe-me trade. In other words, "market, you owe me for missing out on that earlier trade, so I'm going long/short here and I expect to see the same move as earlier." Won't happen. Doesn't happen. Don't get sucked into that trap. It's summer and it's Friday AND it's the end of the month and a quarter. Stay smaller and patient here....200 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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