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Does anyone know if this happen overnight? If that is the case his Stop (if he had one) would not have been triggered, right? That is what I don't like about exchanges/instruments not working 24 hrs.
Can you help answer these questions from other members on NexusFi?
Well what I really meant is that on ES for instance you can place a stop to trigger after RTH and sleep well at night. With other instruments like commodities (NYBOT CBOT) you get the gaps the next morning and there is really nothing you can do about it.
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Index futures are far less likely to experience the same type of event because they are made up of so many underlying equities.
Let's say that tomorrow a nuclear bomb goes off in New York. Then yes, there will be a problem. But the market will be halted and untradeable anyway, plus everyone will have bigger problems.
The solution is this: a) keep the minimum amount necessary to do business in your broker account, b) do not reinvest all your proceeds into the market, c) diversify, d) diversify, e) diversify.
Owning real estate around the globe is probably one of the simplest ways to diversify, in my opinion.
Do your homework on a 15-year vs 30-year. If you can't afford the payments on a 15 year then I suspect you can't afford the house. And the cost savings of 15 vs 30 is substantial over the life of the loan, but of course you have to look at tax deductions as well for your specific situation.