What The 'Aussie' Market Is Up To [May Newsletter]

So you want to excel in the markets? Get the fuel you need by reading this month's Trading Game newsletter.

Discover which essential habits you need to master as a trader, and find out exactly what the Aussie market is up to.

The answer just might surprise you.

What habits do you personally need to develop to improve your own trading? Make a list so you’ll know what you’re aiming for.

Some of the habits as a trader that you’ll want to cultivate might include:

• Have a set time/day to review your charts
• Analyse your trading results at least every 6 months
• Revise your trading plan annually
• Set a stoploss every time you place a trade
• Enter your trade details into your portfolio manager promptly
• Develop and use a consistent method for position sizing your trades
• Keep up to date with the paperwork required for tax time
• Track your trading results regularly with a trading mentor

Growth comes from acknowledging our mistakes and taking responsibility for them.

By embracing self-reflection and learning from our actions, we pave the way for personal development and prevent repeating the same errors.

So, give yourself that initial kick, stay open to introspection, and let each experience be a stepping stone on your journey.

It’s a common misconception that people make their best decisions in the morning.

However, research shows that this isn’t necessarily the case.

Your best decisions are likely to be made at a particular time of day, depending on whether you’re a morning or an evening person.

When people made a decision at a time that conflicted with their chronotype (i.e. whether they’re naturally more alert at a particular time of the day), they tended to make poorer decisions. What happens when a morning person makes a financial decision in the evening?

Well, they’re less likely to consider all of the factors at play. Plus they will not search for information to help them with that decision and this impacts the investor’s ability to learn from their experiences.

When do you make your best decisions?

Honour this by reserving your decisions for the time of day that you’re the most alert. It's the little things that can make a big difference.

Your sleeping patterns, your diet, and your exercise routine - they may seem unrelated, but they all contribute, even if just by 1%, to your overall trading results.

Of course, there are significant ways you can move the needle as well such as following your plan diligently, setting those crucial stoploss orders for each trade, and using appropriate position sizing.

However, when you’re looking at entering an elite level, it’s often those little 1% advantages that can make all the difference. Individually, they may seem like small factors, but together they add up to increase your odds of doing exceptionally well.

Where's The Market At?

What’s the Aussie market telling you at the moment?

Is it saying to invest, or to stand clear?

If you’re not sure, then that means you haven’t developed your macro filter, and you’re likely to be on the wrong side of the trend.

It will damage your results. It will damage your profitability.

We've got low volatility (2.10%), and our key Index is above its own moving average – so that should mean all systems are 'go'.

Or does it?

What if you have a choice between the Aussie market and the US market?

Well, the US market is outperforming Australia – so think carefully where you're putting your hard earned dollars.

Plus, the Nasdaq is outperforming the S&P500 – which also gives you a signal that the Nasdaq is Hot, Hot, Hot!

If you’d like to see a more detailed analysis of what’s Hot and what’s Not, get my freesource ‘Hot or Not’ special report.

We've had such a wide variety of guests and subjects on Talking Trading this year!

Make sure you are subscribed to get the best in mindset maintenance and keeping up with the latest market moves. The podcast will fuel your cashflow, squash your fears and drive you towards exceptional trading habits.

Get onto Talking Trading at talkingtrading.com.au

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Every micro-decision counts.

Every tiny inch of discipline, in every frivolous thing we say 'no' to. Every distraction we dodge, every shiny thing we refuse to chase.

As traders, we fight for that inch. We kick and scratch and claw for that inch.

We stand strong, because we know that this inch…THIS inch is going to make the difference.

If you don’t make tough decisions about where you invest your time currently… you’ll end up with the same results you’ve always got.

What can you delegate or release? What habits can you alter to give you back your time?

Grab your electronic calendar and schedule a date to review your trading plan and your past trades, and set up this annual review as a recurring event in your calendar.

Happy trading!

Louise

P.S. Maybe you should try saying 'No' a bit more often, and then watch your time open up and opportunities to focus on your priorities blossom. Freud once said "One day, in retrospect, the years of struggle will strike you as the most beautiful".

Photo by Marissa Grootes on Unsplash

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