We are off the a great start of the month! The headlines on the news boards are looking more positively than they are negatively and although there is tension in the air we are all working hard together to make things better.
Today I want to take the time and let you know that you are not alone on this journey of becoming a proficient investor. We all come from different backgrounds and past. I could never even begin to image the stories that you have to share and the obstacles you have over come to get to where you are now.
You know that you are capable of incredible things and are determined to become the best version of yourself. You saw the market as being an incredible vehicle capable of getting you to your goals and dreams.
Your journey is important and valuable in the progression of you becoming the person you are today. The same way that you reflect back on previous experiences to improve on yourself it is important do to the same when it comes to your trading and investing.
Documenting your trades will give you a clear history of your past trades that you can go back and reflect on.
Maybe you are like me and use investing to fund your passion for aviation. Maybe you just want to be able to quit your job and spend more time with your family at home.
Maybe you really find the luxurious design of Ferrari just absolutely breathtaking and inspiring and it has been a dream of being able to own one. Maybe you found an opportunity to be able to share this skill with others to be able to empower another individual to overcome their obstacles.
Whatever your calling was you saw learning how to trade as an vehicle to be able to get you from point a to point b more efficiently. Just like an individual would choose to fly to save time on their journey.
Now if you have been investing for quite some time then congratulations for having the persistence to stick with it. Many people who I talk to who say they failed at investing only failed because they stopped investing.
See investing although can provide you with unique opportunities it is not a cure all instant fix to all your problems. The only way you can fail at being an investor is by you quitting.
For those who are just starting their journey, go and take as many trades as possible ( on a demo account preferably) and document every trade. Now just to be clear when I suggest to take as many trades as possible that does not mean to just rapid fire entries without analysis.
These trades must be properly calculated and must be clear with intention and include variables to protect your capitol. In addition every trade that you take must be documented not just with your intention and set up for the trade but most importantly the results.
If you lost on the trade how much in what time period and why. Include a reflection to describe where your areas of opportunity are to be able to enhance your quality of trade on the next set up.
It is incredibly important that you do not skip on recording an loosing trades. You need to be able to clearly go back and analysis your mistakes and errors to prevent you from continuing to make the same mistake.
Being able to effectively and consistently document your trades will immensely increase your proficiency as an investor.
On the same note make sure to record all your profits, which won’t be hard. Make sure you record what your entry details were and when you closed the trade. Many times we find ourselves cutting our profits short of total potential or even having our profits exceed our profit targets and still not closing out the trade.
So it is important that you document not just how you enter trades but how you close them. The close of the trade is where many times long term investors fail to define.
Entering a trade without a clear exit strategy and maybe a few back up plans is a recipe for disaster. You may get lucky and still make some profits but to be able to consistently generate income would be difficult.
If you are looking for a few options on where you could save your trades check out Tradingview which offers the ability to post ideas which can then be shared with others. Click below to see all the chart ideas that I have shared on my TradingView Page!
Moving quickly past this week with a fast market and lots of news. Boeing has been under fire in D.C. by congress and the Department of Transportation.
We saw news of Airbus getting an order for 300 A320Neo by Indigo. This aircraft has similar characteristics and features as does the grounded Boeing 737MAX. The order request made by Indigo certainly brought some optimism for the aviation industry that is growing rapidly in the Asian territories.
At the start of this week we were looking at Ch Robinson, Atlas Air Worldwide and Skywest. They all gave us quite a lot of movement this week with their earnings reports. If you missed the initial analysis make sure to go back and check that our before moving forward!
CH Robinson Worldwide
CHRW took a hit on earnings and dropped sharply like a knife. I personally did not trade this pair as I did not enter in before the news. I personally was feeling a bias towards the upside but was not confident in my analysis as it had many weak points.
The potential for profiting on this move to the downside was extraordinary and if you did trade CHRW this week please do share your experience!
Atlas Air Worldwide
We continue to see Atlas push towards the downside now breaking and trading underneath the $25 price level and just above $20. This was our target range from back in October as we saw transportation and logistics hurt from the tariffs on goods from China.
This past week also did not show positive signs for their stock price and we are sitting at a major low for the time being. Although many investors would continue to look for opportunities to short AAWW I would not dismiss the possibility for price to push up from the bottom to attempt to regain value as the holidays come around the corner and we typically see a surge in goods being purchase then.
Skywest continued on its sideways trend not showing great volalitity to either side. We saw price spike up slightly above $60 only to be rejected and fall back down below. This is currently the major resistance level and where we are seeing price unable to break above. Skywest services many domestic routes in the U.S.
Loss in their load factors could signal that less domestic business travel is taking place on these regional carriers. This could potential show a shift in perspective as business look for more opportunities to hold virtual teleconferences as compared to travelling when not necessary.
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Monday we have Earnings reports coming out for both UBER (NYSE: UBER) and Ryanair (NYSE: RYAAY). Make sure to check back in to see detailed analysis report on whats happening and how you can best trade the market.
Thank you for your time and as always happy trading my friend!
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