Hello everyone! I hope your week has been going well. Today I will discuss a rap track from the duo, Eric B. and Rakim. For those that don’t know they were pioneering hip hop artists that created a completely unique sound and lyrics that created the pathway to the multi-billionaire dollar hip hop world.
I wasn’t even 10 years old when this however it resonates with me on various levels. As an adult I can appreciate the forefathers of hip hop.
What does this have to do with the financial markets?
Well, rap artists flow with the beat and constantly evolve as music changes. We as investors and traders must evolve as the market changes. The song “Paid in Full” means not only to get paid on a monetary basis but to me, it means to push yourself mentally, physically, and spiritually.
The question becomes how do we accomplish this? I personally hate this question because their are infinitely many ways to start and do certain things.
The first point is to understand that it is a neverending battle. That is just the way life goes. If you can get better just 1% or even .1%, it will compound over time.
So where does one begin?
Take the simplest and smallest step in the direction you want to go in. This is what I have been doing in testing my futures trading system to garner 31 points a day. Although I have yet to achieve 31 points, I still have the goal. If I can do about 10 to 15 points initially I will be happy as futures very nuanced in the way they operate.
The only swing trade I placed this past week was buying NVDA calls for July 5th. I think this stock can get to $135 in that time. I am risking little on this trade. Let’s see what happens this week as we could get into summer doldrum trades which could mean choppiness and boring trade. That is fine with me just let NVDA grind higher at least. I will most likely sell a put spread to finance the cost of my debit calls for July 5th I will be happy.
I don’t think NVDA falls apart unless one of the big technology CEOs speak about decreasing their capital spend on AI technology.
Could this happen? Yes? I believe the probability is low though as this point that’s all. Below is the weekly chart of NVDA.
That’s all I have for this week. I hope you have a great weekend.