Big Profit from Day Trading | Strong USD and Market

Dear Traders,

I just got back from Spain last night and then reaped 27k day trading TQQQ and NVDA. You can watch the recap that Brian and I posted here.

Spain was great. I flew to Bilbao from London and drove to Parco de Europe where I stayed for a few nights running in the mountains. The heatwave in Spain made it difficult to run longer distances, and I thus had to start early each morning, but overall I was happy with my performance. I think I gained lots of weight instead of losing some because of the incredible wine and food in Spain! Damn! I hope one day you can, like me, travel the world and trade. I sincerely hope so and we at BBT are here to help you.

The market rallied on Friday and again today as I am writing this. It seems that although the inflation number came in hotter than expected, core inflation is going down and, specifically, commodity prices are coming down, lowering the cost of gas and some other materials.

When I was in the EU, I noticed that the USD is now at par with the EUR. That is good for me as my income is in USD and I was spending in EUR. Everywhere, one of the dominant themes in the markets right now is the strength of the US dollar, which has been hitting multi-decade highs against currencies like the euro and the yen. This creates problems for the rest of the world as most global trade is denominated in USD. The flipside of a strong dollar is weaker currencies in other countries. That, combined with the strength of the US consumer after the pandemic and global supply shortages, means the US is actually exporting inflation to the rest of the world.

A stronger dollar tends to cause the rest of the world pain by tightening global financial conditions and hitting global trade (imports into the US get cheaper, yes, but the drag from a stronger dollar on global financial conditions tends to outweigh any benefit other countries get from exports). Secretary Janet Yellen has always been an opponent of a strong USD, but she has no choice now with inflation running out of control. Overall, a strong USD forces most economies into a recession. Europe is in a bad place and most likely will face a rough 2023.

At Bear Bull Traders…

Tonight is our regular Monday Onboarding and Technology session presented by our experienced mentors, Carlos and Mike. They will walk you through the tools needed to start your trading career and introduce you to both our philosophy of education and our suggested path to success, with the end goal being that you will be able to build your own winning TradeBook for the stock market. All members, and in particular our new members, are most welcome – and very much encouraged – to join us on Monday nights commencing at 8pm ET.

For Tuesday Strategy, Ardi will be leading a discussion entitled: Introduction to Options and Day Trading. In this webinar, Ardi will review the most popular day trading strategies, and discuss how you can use Options to amplify returns and be more capital efficient. Ardi’s presentation begins at 8pm ET.

At Peak Capital Trading…

Starting at 7pm ET tonight, our boot camp participants are encouraged to attend a webinar with John entitled: Managing Trades and Risk Through Advance DAS Techniques.

Tuesday night at 6pm ET, Mike will be leading a webinar entitled: Hotkey/Buttons Designed to Efficiently Trade Your Strategy.

On Wednesday, at 11am ET, Aiman and Dimah   are hosting a trade review session that will include time for your questions (and their answers!).

To your success,
Andrew

PS1: If you have not already, I urge you to try out our free web-based trading simulator at stocktradingsimulator.com. It’s conveniently available 24/7, whenever you have time to practice honing your trading skills.

PS2: If you’ve been contemplating becoming an Elite member, now couldn’t be a better time. For just a little bit longer we will be able to offer the REID50 promotion, which will give you 50% off the cost of an Elite annual membership plus a free one-on-one coaching session with Dr. Kenneth Reid. Dr. Reid is both a clinical psychologist and an experienced trader. He has traded his way through and successfully weathered multiple bear markets. He recently presented a webinar for us entitled 10 Things About Bear Markets, and he is ready to discuss with you the right way to either begin or continue your trading journey in this volatile time. You can check out the offer here, while it is still available.