Last week, the week of the 400 point DOW meltdown, was the worst week I've had trading since 2000's online collapse. I woke up discussing China's 9 percent fiasco and the worries of it carrying over to our markets. Certainly stops would be triggered, at the opening, which would set off a domino effect. Where would the market stop for a breather? It was anybody's guess. Being a lover of hard stops - I believed that my mental stop strategy would work in my favor. My preference is to place mental stops if triggered and close out positions in the close. This is a technique that I use to select the emotions that are intra-day out of my trading strategy.
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