Last week, the week of the 400 point DOW meltdown, was the worst week I've had trading since 2000's Internet collapse. I woke up to Bloomberg 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 marketplace stop for a breather? It was anyone's guess. Not being a lover of hard stops - I thought my mental stop strategy would work in my favor. My preference is to place mental stops and close positions at the close out if triggered. This is a technique that I use to select the intra-day emotions from my trading strategy.
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