Emini Futures | Breakout Kings
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During the CFRN Partners Meeting news from the Euro Summit pushed the S&P 500 Emini Futures up 20 points on 40k contracts. During RTH (regular trading hours) 40k contracts might move the Index 2 ticks at best. This is a prime example of why:
- You must always have a hard stop
- You must always be aware of global economic events
- You must accept the fact that you never know when "news will hit the fan"
Every trade you place - no matter how humble, no matter how quiet the market, must come with a full-blown emergency preparedness plan. As long as you trade with a disaster plan in place, the chance of actually experiencing one, is greatly reduced. Without one, your trading plan and ultimately your business plan, becomes nothing more than a ticking time bomb.