Keep the trunk immersed and select a location away from heat sources to slow the drying process. Never place your tree near the fireplace. If your tree begins to lose an excessive amount of needles, remove it immediately. Only use UL-Approved electrical equipment and take care not to exceed their ratings. Don't leave Christmas lights or candles unattended.
Candles are especially hazardous if surrounded by pine cones and ribbon.
This is also a good time to clean, test and replace the batteries in your smoke and carbon monoxide alarms. Sixty percent of house-fire fatalities occur in homes with missing or disabled smoke alarms. Make the extra effort to be safe and you'll put the odds of having a joyous holiday in your favor.