If a day like today ( regardless of being bullish or bearish) scared the bejesus out of you – you are trading too large!
Volatility is the foe you don’t really know – until he’s got you so deep in a peruvian neck tie (please google it) that you’re seeing stars! In order to “trade another day” you need to take heed of current market conditions and take volatility very, very seriously. Not unlike ultimate fighting – one wrong move and you are truly – hooooooooped!
There is no “explanation”……no cute little “technical analysis” to put your mind at rest, no “CNBC commentary” to make it all go away – THE MARKETS ARE DESIGNED TO TAKE YOUR EVERY PENNY!
Days like today are a drop in the bucket ( in comparison to the -1000 Dow days we’ve seen in the past – remember? ) as the Fed’s printing scheme nears closer and closer to the cliff, you can only look forward to further assaults on your account ( let alone your “psychological being”) as the fleecing process gathers steam.
I’m a friend….and I’m a guy you can trust.
Seriously…….did you really think you could trade this?
Please………bide your time and find something else to do for now. Sitting across the table from guys with 85 billion dollar chip stacks ( and some pretty mean lookin buddies waiting outside) is no place for someone lookin to “have a little fun”.
The sun is comin out, and the fish are biting. If you’re stressed about today – you are trading “far beyond your means”.
You will be liquidated.