I am working on my plan of action..... if this happens I will do this.... or if that happens I will do that... I am really coming around to the battle plan mentality.. things always go wrong at war and you need to plan for them. I have traded by the seat of my boxers on the fly to save my but.. but if I had a real battle plan of what to do at what price all planed out, I would do much better
I have sat there and thought you should buy this right now... only to sit and watch it run with out me.
This is something new for me to work on..... try to plan for every contingency the night before and act on my plan.... be like the rat...lol
for example I bought some TWM today but what will I do if we break out higher..... I plan on buying some TNA or UWM and ride it up to RUT 670 or SPX 1050.. no way we get past that.... but still not sure if I should let my shorts stop out right at the pop ... would hate to get head faked on a pop and drop... dont know the best way to play it. I would like to see where we close before letting go of my shorts.
I have hedged before the news then sold the hedge on the pop open and let my trade fill the gap and run .. double fun
I have screwed around with hedging but its like trading in reverse.. I would suggest paper trading with hedges
Let it roll and lets see if its not just a moot point but I find it helpful to have a plan before the news..
I am fully expecting this bitch to run higher.... everyone I respect in the trading world is short as of now.... the daily charts still say higher.... some divergences in the 2 hour charts.. and the rally has stalled
But this is where you short right at resistance.... if it breaks higher go long you now have a long trade at support.
AND FWIW If it goes higher it will be the mother of all squeezes.
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