Post #15889

Tips to survive: 1. In a market with lots of panic, surprise resolutions, and re-escalations, low size and wide stops are how you survive. 2. Just because there’s a gap doesn’t mean there will be follow-through immediately after. How many times have you been right on direction with a big catalyst, only for price to go against you, squeeze you out, and then finally move in that direction? (I know I’ve experienced this.) 3. If you’re in profit, don’t be greedy. Trail stops, because the world desperately wants resolution. Any sign of it will cause corrective pricing. 4. If you’re not already in the top three trades (long oil, long gold, long USD), it’s best to stay out during the open. Finally, there are 252 trading days in a year. Tonight is not for the naive, ill-equipped, or traders looking to retire by the end of the day. Stay safe. - Alan