Mini Nasdaq Chart & Trading Levels 2.21.2020

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Dear Traders,

A word or two about mental stops….

I often hear from clients and prospects that they use “mental stops”…

Take a look at the mini NASDAQ intraday chart from today below and notice the type of move and speed of move that took place…..good luck placing that mental stop $3900 later or more per contract….

If your strategy calls for using stops ( I personally like to have a STOP on any of the short term trades), I highly recommend placing the stops in the system….While I myself have sinned before as well, thinking that “they” can see my stops and are going after my stops…..lets not flatter ourselves too much….UNLESS you are trading some VERY large size, no one is going after the 1 lot, 5 lot, 10 lot or even 50 lots in markets like the mini SP and US bonds ( ZB)….

Getting stopped out is part of the game and for me it is part of trading, if you are not using stops, it is just a question of when “mini black swan even will take place and wipe out your account.

Sorry if I sound a bit harsh above but take it as “tough love”….

Click on the chart to enlarge

Good Trading

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Futures Trading Levels

02-21-2020

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