Last week, the week of the 400 point DOW meltdown, was the worst week I have had trading since 2000's online collapse. On Tuesday, I woke up discussing China fiasco and the concerns of it carrying over to our markets. Certainly stops could be triggered, in the opening, which would set off a domino effect. Where would the marketplace stop for a breather? It was anyone's guess. Not being a fan of stops that are hard - I believed my mental stop strategy would work in my favor. My preference would be to set mental stops if triggered and close positions in the close out. This is a technique that I use to select the emotions that are intra-day out of my trading strategy.
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