Hurry and stops

I was in a hurry today because I had to leave early in the afternoon. This gives a kind of pressure which is not good for trading. Besides that I don't like fridays trading because most of these days pass by very quietly untill the US opens in the afternoon.

The first trade was a loser and I knew it. I had time and the opportunity to close earlier. Before I take a trade I allways have a way out, this means I allways have a stop loss. I use a maximum stop of 10 points but in most cases my initial stop is lower and is determined by market circumstances like momentum, resistance/support levels and old tops and so on. Quite another type of stop is more discretionary taken. When I feel a position is wrong I close. This type of stop is intuitive. I got it after trading some years. So I closed my short trade after the FDAX breaking a resistance.

The second trade was risky because of the forming of a double top intraday. It gave me some points and because I had to leave I closed. When I came back to my pc I saw the FDAX moving at a lower level, confirming this double top. For the moment this is not enough for me to see an and to the strong bull trend of the DAX..

daytrading
FDAX