news, the first question is: Are markets volatile right now? answer: doh!
Second question: have you adapted your trading style to volatile markets? Answer: ?
the implication is that volatile markets are not the time to be trend trading. If the market is volatile, it is essentially more unpredictable than usual, and sorry, but theres no excuse for not taking a profit when you have it. The choices I think are between scalping, and trades lasting a few hours, and in some circumstances, a few days. imho. You need real big nads and a highly organised risk management approach to do more than scalp, and even then you still need the sound basics of risk management working at your camp.
there are tools to assist, aside from smart ass comments from me. The atr will tell you about volatility, aside from vix. Also see my earlier post to rom re risk management and stops. Another basic rule is, if YOU are uncertain, then get out. Only a mug trader plays all the time. Wait for setups to come along that are familiar to YOU and that YOU have traded before. Fug anyone elses advice. You'll make most money when you're not trading, cos its saving you from feeding the mm on poorly considered risky trades.
markets atm chew up and burp out cowboy traders. Its what they thrive on. I might have opinions about what the market should or will do, but I almost NEVER trade those opinions. The market is designed to fug up most traders most of the time.
oh, and turn off the market news.. it just fugs with your head. cheers!
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