Opening Position
November 2011
Oh boy! And here I thought September was a quiet month in the markets. But if what happened this September is a sign of a quiet market, what does it mean for the rest of the year? Europe continues to disappoint, there’s heightened concern about a double-dip recession, and so forth and so on. But enough of all the negative news! You hear enough of it already. Keep in mind that we are talking about the financial markets, and it’s this type of news, whether negative or positive, that makes the markets dynamic. As traders, we should actually be enjoying this type of market. With all this volatility, think of all the money that traders could be making! One day we have everyone rushing to gold and the next day they are fleeing from it and rushing to the US dollar. But as the S&C interview subject for the month, Larry Williams, observes, volatility is a good thing for traders. Find out what else he has to say about his 50! years of trading, starting here.
When this type of activity prevails in the market it can be confusing, however, and for those of us who are not privileged to be in the midst of all the action, it can be challenging. You have no clue what the market will do from one day to the next. So the best thing you can do for yourself is protect all your positions so you can see some green in the sea of red. This gives you the opportunity to take some money off the table and take advantage of the next volatile move.
Of course, this is easier said than done. To be able to do this successfully you must really study the market and, most important, really understand it. The article “Coach Yourself To Trading Success” by Jamie Theiss discusses some steps you can apply to your trading that will help you become a more successful trader. That article starts here.
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