What is a Mental Stop?
- Posted by Greg Harmon
- on June 8th, 2012
I asked this question earlier today as a light Friday fun activity.
Turns out that there are some insightful and funny people out there. Here are some of the responses I got.
I like Jordan Holliman’s response the best. Seriously, if you are watching your screen every tick for the one stock or future that you are trading then maybe a mental stop will work. But even then, what do you do when you go get lunch, have to use the facilities or sneeze the same second that an Earthquake hits Tokyo? It is not macho to trade without real programmed stops. It is suicidal. Get on board before you lose all of your money. Go ahead, hit me with all your comments about why I am wrong.
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Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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