- Focus on the NOW, don’t be caught up with regret over what you should or could have done with things past.
- Do not revenge trade, e.g. keep putting on the same trend reversal trade which keeps failing. Once you catch yourself thinking that you need to make back the losses that you just incurred, stop yourself. Take a break, and even consider stopping trading for the day if you are not able reset your mental state.
- Cultivate self-awareness of emotions, positively reframe your thoughts
- Read a motivational piece, think of what you are grateful for
- Smile, adjust your posture straight, stand, deep breathing, 5 secs in, 10 secs out.
- If you look at life as something to be enjoyed, you take everything as it comes, then that’s the way your trading’s going to be. It’s going to be enjoyable, it’s going to be relaxing.
Archives of “September 10, 2021” dayrss
This article suggest that the authorities’ moves in China against Alibaba are related to:
- its mobile payment system, Alipay, might generate financial risks, and what specific problems they create for the regulators. Nor do many link Alibaba’s drama to another hot spot: the issuance of digital renminbi by the People’s Bank of China (PBOC). In fact, as this article will try to illustrate, the two stories are deeply related. The tension between Alibaba and the monetary authority of China lies in the nature of a privately operated mobile payment system.
People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.
- USD/CNY is permitted to trade plus or minus 2% from this daily reference rate.
- CNH is the offshore yuan. USD/CNH has no restrictions on its trading range.
- The previous close was 6.4560
- Reuters estimate was 6.4570. A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.
PBOC injects 10bn yuan via 7-day reverse repos
- 10bn RRs mature today
- thus net neutral on the day
A piece by Bloomberg on the deciphering of messages for Chinese leadership re the crackdown on the expansion of, mainly, tech companies and ‘platforms.
- “There will be a restructure of the digital economy in the coming years and anything not consistent with the national strategy will get toned down.”
NASDAQ down for the second consecutive day
The US major indices are all closing lower with the Dow and S&P down for the fourth straight trading day. The NASDAQ has been down for two consecutive days
- Dow industrial average fell -150.84 points or -0.43% at 34880.23. The low price reached 34847.30. The high price extended to 35199.89
- S&P index felt -20.81 points or -0.46% at 4493.26. The low price reached 4492.07. The high price was at 4529.90.
- NASDAQ index fell -38.38 points or -0.25% at 15248.25. The low price for the day reached 15245.17. The high price reached 15352.38.
- Financials rose 0.25%
- Energy rose 0.13%
- Materials rose 0.07%
- Real Estate fell -2.12%.
- Healthcare -1.18%.
- Consumer staples -0.60%.
- Utilities -0.59%
In other markets as US trading moves toward the close shows the Swiss franc is the strongest while the US dollars weakest.