The week of the 400 point DOW meltdown, last week, was the week I have had trading since 2000's online collapse. On Tuesday, I woke up to Bloomberg discussing the 9 percent fiasco of it carrying over to our markets, and the concerns of China. Stops would be triggered, in the opening, which would set off a domino effect. Where would the marketplace stop for a breather? It was anybody's guess. Not being a fan of stops that are hard - I thought my mental stop strategy would work in my favor. My preference is to set mental stops if triggered, and close out positions in the close. This is a technique that I use to take the intra-day emotions out of my trading strategy.
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