Morning Commentary Tuesday March 16th

Futures are flat ahead of the housing starts and FOMC announcements today. The language the fed uses will be heavily scrutinized though they are expected to keep rates the same.

Last week I taught a session on risk management. The focus of it was  profit preservation. While it is easier  sometimes to keep a trade on in it’s entirety to a profit goal some times it behooves us to take some profits sooner. An easy way to capture some profits is to take off part of a position at 10% profit then the rest at 15% or 20% or whatever your goal is. That way a quick move in the market will not erase all of your hard fought gains. Of course you can also just take the entire position off it it profits quickly in the first week. No one goes broke taking a profit.