The Duomo Initiative

Helping serious traders develop the core skills and professional capabilities needed to trade logically, confidently, and consistently

[The Duomo Initiative @DuomoInitiative]

US CPI came in at 3.3%, lower than expectations and last month's data.

Treasury yields declined as markets saw this as a further sign of potential interest rate cuts.

The data is unlikely to change the Fed's language later today.

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Which do you prioritise... short-term profits or long-term performance?

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What goal are you trying to achieve with your trading?🎯

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As expected, the Bank of Canada cut rates to 4.75%.

They became the first major central bank to cut rates, going from 5% down to 4.75%, after inflation eased faster than expected.

They suggested more rate cuts could be coming and expect inflation to ease towards the 2% target.

[The Duomo Initiative @DuomoInitiative]

JOLTS job openings data continues to trend lower. Just over 8 million - lowest since '21.

Job vacancies is a key data point. A high number potentially means higher wages as workers can demand more & hiring companies must offer more. Lower vacancies aligns with Fed cutting rates

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What if your trading losses felt the same as your profits? 📈📉

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Subconsciously you feel like this is protecting your downside, but in reality, it's just death by a thousand papercuts - small profits and small losses, taken less frequently; a slow bleed.

Lack of confidence is therefore a negative feedback loop.

[The Duomo Initiative @DuomoInitiative]

Your confidence level in your trading can be a huge factor in your success.

2 traders can be looking at the same charts and have the same overall analysis, but one can have a completely different level of performance than the other due to confidence.

[The Duomo Initiative @DuomoInitiative]

Knowing when you can or can't take risks often comes down to your confidence in dealing with that situation.

Without being confident, you can play it too safe, which means you either hesitate and miss opportunities, or exit trades too quickly.

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Check out this video for a more in depth explanation about these tips and how they can help you:

https://t.co/aWADDmC48q

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Are you easily distracted during your trading sessions and struggle to focus?

Here are four tips to help you get back in control and trading at your best.

[The Duomo Initiative @DuomoInitiative]

4. Build up your focus endurance over time.

Set a timer and start your trading session. As soon as you start losing focus or become distracted, stop the timer and take note of the time. Next session aim to beat that time by adding a few minutes and setting an alarm. Repeat.

[The Duomo Initiative @DuomoInitiative]

And there are so many more benefits too.

I put together a detailed guide going through the key benefits, and the best way to incorporate a simulator into your development, testing, or optimisation.

I also tell you my recommended simulator:

https://t.co/nCawEizUjn

[The Duomo Initiative @DuomoInitiative]

Beginner traders are lucky these days with how many resources they have to help them learn.

But if I could choose just one thing that I wish I had when I was learning, it would be a trading simulator.

Here are 4 reasons why…

[The Duomo Initiative @DuomoInitiative]

4. You can gain experience of different types of market activity even if you weren’t trading at the time.

Create a list of different events you want to experience and then go back in time to trade them. Great for building your implicit knowledge!