I'm currently trading two strategies:
- Strategy #1 is The PowerX Strategy
- Strategy #2 is The Wheel Strategy

So when is it best to not trade stocks? When is it best to not trade options? When should you not trade at all?

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 ;)

What do I look for in a stock:
- Looking for huge gaps in the stock
- Trendability to both the upside & the downside
- How this stock performed over the past year had I been trading it with the PowerX Strategy.

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.

The Options Wheel Strategy Playlist: ​https://www.youtube.com/playlist?list=PLBa3sAx-Io2nosgosERUhIZwzvIgD-3Vq
The PowerX Strategy Playlist:​ https://www.youtube.com/playlist?list=PLBa3sAx-Io2l9ZV4s66J-uNkG6AJvhSPB
Get My Book On The PowerX Strategy: https://www.rockwelltrading.com/free/powerx-strategy-book/