Today was one of those days that help me appreciate the value of
placing stops on EVERY trade I take. Mainly a swing trader
with a busy day job managing a law firm. Was quite pleased to
shrug off the impact of today's market selloff. Thanks to my
stops, I was taken out of 5 positions at levels way above the
closing price, either protecting gains or minimizing the loss...all
without staring minute by minute at my computer screen or stressing
about what a stock "should be doing".
Many thanks to Steve and Matt for drumming home the concept of
always having a plan and using hard stops. No better day than
today to reinforce that notion. As they say, "A penny saved
is a penny earned".
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Today was one of those
Posted by RichieD on 16th of Jan 2018 at 05:21 pm
Today was one of those days that help me appreciate the value of placing stops on EVERY trade I take. Mainly a swing trader with a busy day job managing a law firm. Was quite pleased to shrug off the impact of today's market selloff. Thanks to my stops, I was taken out of 5 positions at levels way above the closing price, either protecting gains or minimizing the loss...all without staring minute by minute at my computer screen or stressing about what a stock "should be doing".
Many thanks to Steve and Matt for drumming home the concept of always having a plan and using hard stops. No better day than today to reinforce that notion. As they say, "A penny saved is a penny earned".