You Could Have Seen The Correction Coming With This…

The Hawkeye Traders E-Letter — Your No. 1 Source for Volume Trading Insights

Hi Trader, I hope your Friday is off to a great start. Yesterday, one of our long-time members posted a link to an article in our Inner Circle group… Here's what the headline read:

First, let me just say that this is absolutely heartbreaking… And my prayers are with this young man's family as they wrestle with this tragedy. But it also raises a very important point about trading… Especially for newer, less experienced traders. As we all know, the coronavirus has left millions unemployed, and the retail trading industry has exploded in the wake of the pandemic. In fact, the article states that this particular brokerage, Robinhood, added 3 million new accounts in the first quarter of 2020 alone. Now, there's nothing wrong with taking up trading. But when inexperienced traders start applying leverage and risking large sums without sufficient training, backtesting and practicing in a sim account… Especially in the extremely volatile conditions we've seen so far this year… It's just too easy to find yourself in a deep, deep hole. Many of us have been there ourselves… I've personally blown up more than one account in my own trading journey, just as several of our Hawkeye members have. In fact, our friend Jay who posted this article yesterday said, "I had a rough time in the beginning… I lost 4 accounts one right after another. In 1980 I lost $40,000 in one trade." Now, I've talked before about how losing is simply a part of the game. Anyone who's ever become successful at ANYTHING has experienced failure along the way. But here's the thing… When we're talking about trading, one of the most critical factors in long-term success is managing risk. That means never betting more than you can stand to lose on any trade… EVER. The problem is that, just like in a casino, it's easy to get "on a roll" even as a new, inexperienced trader… And to consequently end up betting — and LOSING — the farm in the blink of an eye on a single trade. This is why I'm always preaching about the power of "base hit trades." Too often, I see traders looking for that "homerun" that's going to net them hundreds of thousands of dollars in a single go. Now I'm not saying it's not possible to hit a homerun trade. But what I am saying is that the safer, more sustainable strategy is to focus on making small, consistent winning trades… And building your account through the power of compounding. Those who have been with me for a while understand this, and Jay summed it up perfectly yesterday when he said: "If you truly understand the power of compounding, you don't ever need to risk too much." The unfortunate reality is that this young man is not the first person to lose big on a trade… And, even worse, he won't be the last. But my plea to you is that if you are a newer trader… Or if you've been trading for a while and have found yourself in a similar situation… Please watch our training video that shows you just how powerful trading for "base hits" can be. Not only can it protect you from a devastating loss, but it can actually help you build up your brokerage account a lot faster than you might think. Click here to watch the in-depth tutorial at no cost… And be safe out there.

Crude Corner: Oil Industry Insights, Market Analysis and Price Outlook

WTI Light Sweet Crude Oil Futures Analysis July - CLN20 Contract Crude Corner Outlook: The mid $36.00 price area will likely contain selling pressure through next week. Above which, the mid $43.00 price area is now likely and able to be obtained within several weeks. Near-Term Bullish Scenario: The $40.00 price area can contain initial strength, beyond which the mid $41.00 price area is attainable intraday and likely able to contain session strength. Closing above the mid $41.00 price area indicates the $44.00 price area within several days and is able to contain buying throughout July trade. Near-Term Bearish Scenario: Breaking below the mid $37.00 price area indicates a test of the mid $36.00 price area intraday. Closing below the mid $37.00 price area indicates a June high has already been placed. The mid $33.00 price area then expected within several days and the mid $27.00 price area within several weeks. Want to learn more about the system Anthony uses to find profitable trades in an unpredictable market? Click here to view a no-cost training video right now!

The Hawkeye Team

Hawkeye Traders team1@hawkeyetraders.com hawkeyetraders.com

Call us: (888) 233-8598

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