In a recent comic relief session in a chat room, someone said Stop losses don’t work because the MM’s just takes them out.
MM 1: hey look that dummy just put on a stop.
MM 2: hey i have a sucker here too
MM 1: i’m so glad we have this “Sucker Just Put On A Stop” alert system
MM 2: fer sure! our lives is more exciting
MM 1: ready to take these dummies money?
MM 2: K A C H I N G!!!!
MM 1: WEEEEEEEEEEEEEEEEEEEEEEEEE!!!
MM 2: let’s call Obama next so we can pop it and drop it hard soon as best bud pres gets on
MM 1: yeah lets do it after lunch
It is highly conceivable that these poor blokes, the market makers, are targeting people specifically. I have to wonder if they are off shore contract workers. If we could get those jobs back here in the states, I bet we would resolve our economic issues.
Motivational Quotes Hanging In MM Cubicle
A Sucker Is Trading At Every Tick
Blow Their Stops
Surely, my stops are being blown, are the maniacal workings of the evil MMs!! There is no doubt about it! “They” are personally and unfairly targeting me. So I no longer put on stops!! I only cry like a little girl when I’m working through a 30pt draw.
Mystery of Setting Stops
Here is how i set my stop. I see a price. I think it will go up from there. Nothing specific. Just up. Yeah you heard me. Then I decide how much pain I can stand. And voila! A stop is set. If you don’t like how I do’s things, you can kiss my big double bottom!
Yeah, you know that is what people tell you how to set stops. The amount of pain you’re willing to endure. Sounds scientific. Sounds like it makes sense. Sounds extremely logical. Hey! I’m willing to lose 2 pts. Its only freaking money. Who needs it.
The wonderful thing about setting stops is that they usually get blown by like 1 tick. And then completely reverses and goes your way if you were only in the trade. O I love how that happens. The memories of yelling profusely at the computer.
When you set a stop, you must fully understand where you are in the move. Ideally, you would like to go long at support, short at resistance. And yet in our haste, we forget that little thought and we short at support and go long at resistance. And with much certainty we declare. “Dang MMs did it to me again!!!”
The best way to get blown out of your stops. Chase the trade. OMG it is going up!! Should I go in? Dang its going up more!!! Buy market now!!! WTF!!! Go up not down!!! NO!! NO!! NO!!!! Not my stop!!! ((scalpersue exclaims with much fiery emotions))”Don’t you dare blow my stop!!! Or I’ll be pissy!!” Market resumes to move up. “Curse you MMs!!!!”
The Solution
I’ve covered some general instructions on setting stops before. Issue 014 – Setting Stops. It was just amusing listening to the comics in the chat room and seeing how many clueless people there are. Our next issue will cover: Can you tell me what time frame I should use so that I wont get emotionally constipated? LOL NOT!!