As a Day trader it is your duty to develop a definitive plan of exactly what you will do when this sort of news hits the wires.
As the old maxim states, failing to prepare is preparing to fail...
Do not find yourself in the dangerous position of not knowing what to do EVER .
key options you must consider – how you will adjust your risk management both in terms of your trading size and stop .
Developing a definitive plan of exactly what you will do when this sort of news hits the wires will help you Automatically develop improved clarity of decision making and ultimately help you to prepare and set your expectations for similar trade opportunities next time .
So the next time a sovereign debt crisis, Chinese interest rates resurfaces be prepared because without thorough preparation you will not have the ability to make money from these opportunities .
“Trading Tips Edition” The baldy one has spoken – Copyright © 2011 tweeterTrades