On a move like that, stop orders would not be effective. They won't be magically filled at a price that the stock gapped right through. I agree with Rearden. Stop orders are amateur, with the exception of swing trading. I don't know any active traders that use hard stop orders. Even the thought is laughable.
Do you yell and scream at the computer if you do a bad trade? No one should be doing bad trades. It means go back to the drawing board if you trade with setbacks occurring. Taking money out of the market is calm preoccupation. Now who would want to be a dickhead venting at some goddamn glass & plastic? Remember you are taking your brain out of commission if you're indulging yourself in emotional storms .. to which, I understand, a person can become addicted! Bottom line: stop it altogether & take it easy.
I would throw the darn thing out the window or take with a sledgehammer to it. Wait, a shotgun would be better. And then I would get a new computer and load up the same software with he same strategy. After it was the hardware's fault!
If I stuck to my Trading Plan and did everything that I was supposed to do, then the answer is I do and say nothing. S*** happens, it's called business. If however, like I did this week for the first time in ages I chased a trade and lost, then YES I cry and bitch about being such a F"n A-hole for acting like a NEWBIE. I only lost $100 on the trade even though I made $3,000 that day. The point is that I VIOLATED my Trading Plan, and if I did it once I will do it again. That is what pissed me off. It's like being an alcoholic, can't touch one friggin drink EVAR! I was so pissed at myself. It would have made NO difference if the trade had made me $1,000. The whole point is I lost discipline, I violated my plan, therefore I have NO PLAN. Get it? Mac
I would throw the darn thing out the window or take with a sledgehammer to it. Wait, a shotgun would be better. And then I would get a new computer and load up the same software with he same strategy. After it was the hardware's fault! (PS do not stay calm and quit - erhhh did you mean quiet?)
I trade alone .... and often trade through the night hours sometimes I curse ... esp when I make a keyboard error that costs me $10- $50 .... funny that I still do that as I am having a very good ( for me ) yr ... and have only had 1 losing week in the 1st have of 2006
By logical extension, what's the motive for mentioning at all that stops aren't a good idea? Oh yeah, my usual fav is muttering "goddamn motherf*cking piece of sh*t" for about 10 minutes at a time. To an onlooker I'm sure I'd be suspected of tourette's syndrome on any particular day, just a habit of letting off steam. The key is not letting the emotions connect directly with your index finger on the kb or mouse.
Cussing and screaming is an improvement for me. Jan., 2005 I took a hammer to my computer, and no, I didn't keep a hammer at my desk. That means I had to take the time to go get the hammer, come back from the garage, and start pounding. Then I had to call the trade desk to get out of the trade, which, wouldn't you know it, had moved in a favorable way. I actually took a profit. That was my last day of trading for over a year. Hopefully, I've matured.
yes, i swear / curse at screen. i do more of it on a technical problem (ie. cable modem dying, etc.) i do it when it's my fault, and i know it. but i get over it soon after.