Opportunity

I'm stating the obvious in saying there is tremendous opportunity in the way the markets are plunging. I wrote many helpful articles during the plunge of 2008 that should be useful if the markets behave the same way. To recap some basic tenants of my trading philosophy:

- Concentrate, focus, know yourself and your limits.

- Keep things simple.

- Go with the flow.

- Take profits when you'd be crazy not to.

- Press your advantage to an almost reckless level when you are in sync.

- There is no limit to where prices can go. Up, Down or bounce. Think 1000 point days on the Dow.

- Cut losers ultra fast.

- Pare your plays down to 2 or 3 at a time and trade big size.

- Momentum is king, fundamentals are meaningless, technical levels are of little use.

In times like these, more money will fly into your account than years trading a grinding market. Don't think you are smarter than the market if you are wildly successful - it is just the conditions that making it appear so. Be humble and give something back to those less fortunate than you.

Happy trading.