A lot of instability it seems in the coming days. Will you guys be trading this week and the next? If so, what instruments will you be trading?
No, I went flat early this morning, and I wonāt place another trade until the week after the elections.
Yeah thatās probably what Iāll also do.
Iām going to stay away from the Dow from tomorrow am and US shares until the dust clears, and I will make sure my forex trades of all sorts are limited size with stop-losses too.
Take it easy.
Some people may think we are being overly cautious, but the result Iām most worried about no clear winner. What if there are issues counting the mail-in ballots in time?
Hopefully, everything goes smoothly, but Iād rather be safe. I donāt mind missing two weeks of trading. There will be plenty of opportunity in the weeks to follow.
Effort = reward. Those prepared to put in the effort over the next couple of weeks could yield big rewards.
Iāve said it before, Iāll say it again, volatility needs to be embraced not feared.
āAvoiding danger is no safer in the long run than outright exposure. The fearful are caught as often as the bold.ā --Helen Keller
āInaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy.ā --Dale Carnegie
āThe cave you fear to enter holds the treasure you seek.ā --Joseph Campbell
Sure hope volatility rises because Iām long the VIX.
Going of past votes, including Brexit what you need to be concerned about isnāt so much volatility but large gaps
That will only come as the result is announced and anyone in a position may be in a for a rude awakening
As I donāt day trade all this prior pre election noise doesnāt affect me - and I donāt think it should affect most.
Just be flat as the results are announced is the only thing that really matters - long term investments aside that is
At the rate weāre going, unless itās a landslide victory, probably not.
Youāre not changing anything to current trades/how you trade in the coming days?
Like I said Iāll be flat on the day, I have noticed a few rather large ranging bars on stocks - but is this attributable to the election I donāt think so
Interesting. Definitely would be cool to revisit this topic again after the elections! Maybe a month after or something
Right now Iām more concerned of the senate hearing with Jack Dorsey and Mark Zuckerberg tonight.
Im wanting to get long facebook for a three or four day pop - this could affect the market and spill over into the dollar - probably not though
To be honest I think giving up trading for a whole week is a tad silly but hey Iām a die hard trader with nothing better to do
Makes sense. Although for me it has served me well to avoid trading during weird times but maybe I actually should so I can learn something instead of avoiding it lol
If anything just reduce size. Like I said there have been some major gaps - even in non gap markets such a fx, on result announcements
Both Brexit and 2016 vote were like that.
I do actually warn everyone not to be long - with leverage as that takes place
It can be career ending - but a little skin in the game up until the day I donāt think is a problem
Ah, likely to be the same in this case then.
In forex, I would say risk comes with reward. Ride with the trend I would say. Always do day trading if you wanted to join the market.
āA prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.ā - Proverbs 22:3
I am day trading with caution, taking notice of Fundamentals which could affect market sentiment, particularly the US economy and France lockdown. JPY is a safe haven today -whether that will continue isā¦
I have read that you wonāt make money unless you are ready to take a contrarian position - but I havenāt learnt enough about the market to take that on board.
My market wizard friend has shut down his server in Wall street and is taking a holiday break until the US election results are known.
Wow a flurry of great quotes. Good luck next week and I look forward to you sharing your successes.
Blackduck
There is some positivity in me
Good to see.
Cheers
Blackduck