Yesterday was an object lesson in the danger of setting your stops too tight.
We entered short at the Keyline with a stop at $1236. The stop was hit at the high of the day, and the market tanked directly to Nat’s Buy level.
We lost about $250 on a trade that would have netted about $1200 with a stop one tick higher, a reminder of the danger of excessive caution.
Fortunately we caught the rally from the Buy level back toward the keyline. We showed a profit for the day; just not a yuuge profit.