DOW falls and takes out my stop

It just goes to show that you never really know where the markets are going. I had moved my stop up a bit as the previous stop under the pin would be a full 2% loss if it hit.  Moving up the stop to a previous low meant a loss on this trade would be 1%.

Well, the markets fell extremely quickly today and took me out of the trade. Of course, it was disappointing and I would still be in my trade if the stop was below the pinbar but even if I was and saw the strength of this fall.. I would have felt extreme discomfort holding this trade.

As I mentioned earlier, the markets can do anything.. including shoot up tomorrow after a fall like this.. sometimes big institutions drive the market down to cause the weak holders to get out so that they can get in at a bargain price.

Anyway, I’m out of this trade now so will just eye up new opportunities.

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Category: DOW, Make Me Some Money Ideas, Trading