The week of the 400 point DOW meltdown, last week, was the worst week I have had trading since 2000's online collapse. I woke up discussing the 9 percent fiasco of it carrying over to our markets, and the worries of China. 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 hard stops - I thought that my mental stop strategy would work in my favor. My preference would be to set stops and close positions in the close out if triggered. This is a technique that I use to take the emotions that are intra-day .
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I had a "friend" review this article before it was published. Notice the quotes around their explanation friend. I wanted to make certain that article didn't come across as boastful. He said that it did not seem to be, but pointed out a couple of trading mistakes that I made early in the week. Once I calmed down, I admitted that he"may have" some legitimate points. Considering that the DOW was down 500 points intra-day and cratered 200 points in one minute. Gold denver video production dropped - . Silver completely buckled. It's surprising that I did not make more mistakes.
LBE: Stocks are down, unemployment is up, confidence is down and in general the prognosis is gloomy. What are your thoughts on getting people through the doors/butts in the seats or fixing it?
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