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5. Futures Economic Reports for Thursday January 8, 2016
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
Voted #1 futures trading blog!
Volatility is skyrocketing. This is a completely different environment for trading than you were in 3-4 weeks ago. Markets are evolving and you must adapt your trading to changing market conditions.
This is where you find out if the gambler in you is stronger than the trader in you or vise versa…..If the trader is the strong one, you will REDUCE trading size, become extra picky in your entries , perhaps even decide not to trade at certain times….If the gambler is the dominant one…you will find yourself all over the place up huge, down huge and I am sorry to say sooner or later you will blow up…..
Think about it and try help the trader within win over the gambler that resides in the same neighborhood…..
One additional note, dont be GREEDY….set daily profit target and daily loss limit and stick to it. that can be the difference between you surviving to trade another day OR……
On a different note, please pay attention to LIMIT moves and understand what happens when the market is halting at limit levels:
http://www.cmegroup.com/trading/equity-index/price-limit-guide.html
