Limit Up!

“When we get into these very emotion-driven markets like this. You have to buy the rumor, sell the news.” – Tim Racette Even when markets aren’t on a roller coaster ride, it’s good practice to rely on diversified tools as opposed to changing your strategy to fit market whims. Tim Racette, a trader with Eminimind, does both swing trading and day trading. This approach has allowed him to ride the waves while still making a profit. Tim joined Jack and Dan for a discussion on the benefits of swing trading, why it’s crucial to keep a positive mindset, and why trading is a long game…not a get rich quick scheme. Listen to insights on different ways to manage the current volatility. [00:15] - This week: Tim Racette [01:38] - Market reaction [07:54] - Interview with Tim Racette [08:26] - How Tim started EminiMind [09:51] - Ignore the floor [11:12] - Design studies [12:24] - Migrating between swing and day trading [19:51] - Emotion-driven markets [24:04] - Position size [25:55] - Make trading work with your lifestyle [