Last week, the week of the 400 point DOW meltdown, was the worst week I have had trading since the online collapse of 2000. On Tuesday, I woke up to Bloomberg discussing the worries of it carrying over to our markets and China fiasco. Stops would be triggered, at 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 - I believed that my mental stop strategy would work in my favor. My preference would be to set stops if triggered, and close out positions at the close. This is a technique I use to take the emotions that are intra-day from my trading strategy.
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