What’s wrong with this picture?
US SP 500 – 5 Minutes
I put a fair amount of time and effort into working out my stop loss levels – but the market is clearly smarter than me. The chart shows what happened to my long position in the US SP 500 overnight.
%$#@ I hate that!
The market goes against me just enough to trigger my stop loss, then turns around. It’s no wonder traders are prone to paranoia – it feels like the market is out to get me.
I know, I know, stop loss orders are a very important tool that protect my capital and keep me in the market – they mean I will live to trade another day. The important thing is to not let market action knock me off-balance emotionally. That can lead to poor decision making. Still.
Does anyone else have a filthy stop out story?