Here are some bits of advice for a challenging week:

[LIST][*]If you are not nervous or fearful right now, that is very bad. You should be fearful. That is regardless of whether you are currently long or short.

[*] If you are nervous, control your nerves and follow your discipline. If you've spent months/years developing a system, stick with it. Don't make excuses about this time is different.

[*] If your discipline says that you should have a position of $X dollars (whether long or short), cut your position in half and double the size of your stop. That is, control your risk -- but don't change your methodology.[/LIST]

[QUOTE=gapcap1;30221][LIST][*]If you are not nervous or fearful right now, that is very bad. You should be fearful. That is regardless of whether you are currently long or short.

[*] If you are nervous, control your nerves and follow your discipline. If you've spent months/years developing a system, stick with it. Don't make excuses about this time is different.

[*] If your discipline says that you should have a position of $X dollars (whether long or short), cut your position in half and double the size of your stop. That is, control your risk -- but don't change your methodology.[/LIST][/QUOTE]

Gapcap1, when you say double the size of your stop, what do you mean?

if you normally trade 20 lots and risk 5 points, then trade 10 lots and risk 10 points

[QUOTE=gapcap1;30224]if you normally trade 20 lots and risk 5 points, then trade 10 lots and risk 10 points[/QUOTE]

Excellent advice Gary!

[QUOTE=Harry;30227]Excellent advice Gary![/QUOTE]

Wish I could take the credit! Thanks, GapCap1.