$CAP The recent chart movement has really educated both the bulls and the bears.

In 5-minute intervals, the swing amplitude is often dozens of points before you even blink—one second you’re cheering, and the next second it’s a straight drop of an extreme wick, turning the sky and the earth upside down.

The hardest part of this kind of market isn’t the direction—it’s the volatility.

If you go long, you’re afraid a single needle-like spike will wipe out your profits.
If you go short, you’re afraid a piece of news will directly blow the move up against you.
If you stay on the sidelines, you’re afraid of missing the next round of action.

A lot of people think they’ve lost to their judgment. But more often than not, they’ve actually lost to their position sizing and their emotions.

High volatility means high opportunity, but it also means high risk.

The crazier the market gets, the more you need to remind yourself:

It’s better to miss than to make a mistake; it’s better to make less than to give your profits back to the market all at once.