For the first time in recent memory, Wall Street has been shut down by a Hurricane. Periodically we’ll see the stock market closed for blizzard like conditions in the winter but rarely has it ever been shut down for a Hurricane. But this isn’t like any typical storm.
Hurricane Sandy, also named FrankenStorm, has been pounding on New York since late Sunday. It has left millions in New York without power and flooding has shut down most of the public transportation in the city. After many evacuated the city, it wasn’t much a surprise when the markets were announced to be closed two days in a row.
The shut down of the markets have left main-street traders across the country wondering what they should do on days the market is suddenly closed. The number one idea that comes to my head is to go back and review day trading basics.
There are a few things that every day trader should remember and review periodically to make sure that their complicated strategies don’t get in the way of the most important part of their trading efforts. Here are three day trading basics I think people should hang on their wall for continual reminder:
It’s amazing that this late October Storm has had such a huge impact on one of the world’s largest cities. I hope everyone in New York is safe and I anxiously await the re-opening of the stock market so our trading and investing efforts can return to full swing.
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