Coping with volatile market
Yesterday when we sent out the intraday update of the S/R table, we noted that you should wait to exit your long positions at either Resistance1 and/or Resistance2. We did not suggest that you should sell immediately while prices were dropping rapidly intraday.
We hope that this message was clear and did not cause any confusion for you.
While it is frustrating to see our unrealized gains turn into unrealized losses, it is the nature of trading. We can cope with it by:
There is no trading system that is going to provide us with 100% reliability 100% of the time. It is therefore very important to develop a good risk management strategy for all market conditions. Protective stops are essentially your automated risk management strategy.
The rest of this article covers:
Table of support and resistance levels
Updates from market internals
Planning your trades
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