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Wednesday, September 20, 2006

how not to trade.....

Ok, this is a prime example of how not to trade. I recently read some articles about how MM’s intentionally manipulate the intraday patterns to take out any stops near the current price. So today I tried using mental stops, and not reveal my stop loss to the MM unless I had to. The idea was good in theory, but unfortunately, I made the mistake of not being at my computer to watch things when it mattered the most.

Today is one of those days where I felt like I was subconsciously looking for ways to screw up a good trade.

My only consolation is to post this up as a reminder to myself to NOT repeat the same mistake again !!

1 comment:

Richard said...

yeah, I use mental stops, normally. But, if I'm going to step away (even to go get a glass of water), I put a stop in the market.