When To Sit On Your Hands In Trading? Only One PXO Signal And That's Just Fine!

Coffee With Markus | Episode 101

Intro: 0:00
What's Happening In The Markets: 1:03
Deep Dive Q&A: 17:13
C: Looking for a BIG pullback to add to existing long term IRA positions. 20:08
C: Just managed to grab 90% on BA today before everything started tanking! 20:55
Q: When you get assigned, do you put a stop loss on the trade? How do you mitigate down trend risk if you get assigned? 22:02
Q: Can you explain how a profit of $3322 in EVRI leads to an ROI of 89%? 25:46
Q: Is today a good day to trade with the Theta Kings Strategy? 33:00
Q: What scenario would be considered a "loss" in the Wheel Strategy? 33:53
Q Does the PXO work in a sideways market? 35:26
Q: If you get an alert that your stock hit the profit target in the middle of the day, do you sell it right then, or wait until the next morning? 36:48

There are days and even sometimes weeks in the markets, where the best thing to do is 'sit on your hands' (i.e. do absolutely nothing).

On an average day, The PowerX Optimizer (my proprietary trading software) will provide me with around 8 potential trade setups. The beauty of the system is that it takes your ego completely out of the picture.

What do I mean by that? Well, it's simple really. I've paid a team of developers to program my trading plan and money management system into this piece of software I've named the PowerX Optimizer. It doesn't care about news, tweets and it never has days where it's in a good mood or bad ;)

It simply runs the program quickly and objectively, so I know I'm always getting the same types of setups every time. But here's the thing, there are going to be days when the best thing to do is to 'sit on your hands'.

Today is looking like it may be one of those days...and you know what, that's okay with me. As a trader, you always want to be in the markets because obviously if you're not, you're not making money but it's also to realize you're not losing money either. And this is really the key point because on days where you don't have ANY trade setups that look good, that day you don't put on a trade.

Because if you try and force it, more than likely you're going to lose money. Let me tell you from my experience that is definitely a losing proposition. So in today's episode, we're going to take a look at the broader markets to see what's in store for us this week.

Stop-Loss Orders And Limit Orders Explained - When And How To Use It:
https://youtu.be/fVJ0WMCRy_k

Best Brokerage Account 2020
https://youtu.be/4MoU-UiDAi4

The Options Wheel Strategy Playlist:
https://www.youtube.com/playlist?list=PLBa3sAx-Io2nosgosERUhIZwzvIgD-3Vq

See you at 2:30 pm Central here live :)

#whentositonyourhandsintrading #whentositonyourhands #sitonyourhands
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Видео When To Sit On Your Hands In Trading? Only One PXO Signal And That's Just Fine! канала Markus Heitkoetter