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I checked the future at 8 this morning. They were up. I found some good bullish trades and wrote orders on them. Thirty minutes later, everything began to change. The CPI numbers came out revealing an increase in inflation. The market entered a steep decline.
I canceled my orders before they could be filled. Later in the day, I took a look at them, happy that avoided what would have been rapid and significant loss.
Key take-away: Keep up with economic events. There are many economic calendars available online. Check one every morning and be ready to move quickly when the news surprises.
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