Don’t allow the market makers to take your shares at a discount
Hudson City Bancorp (HCBK) frustrated a lot of sellers this morning who thought there shares would be safe prior to the market open. However, the manipulation that market makers often undergo to steal shares at a huge discount like they did this morning, is an area that the SEC refuses to address.
As a result, I refuse to put in stop orders for my current trades until the market opens and has roughly five minutes of market action under its belt already.
Such an approach this morning kept me from getting knocked out on the 1 second-long flash crash in HCBK this morning.
So please watch this video as I tackle this issue more in depth.
Welcome to Swing Trading the Stock Market Podcast!
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Commit these three rules to memory and to your trading:
#1: Manage the RISK ALWAYS!
#2: Keep the Losses Small
#3: Do #1 & #2 and the profits will take care of themselves.
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In today's episode, I explain whether it is a good idea or not to rapidly increase the size of your portfolio if you come across a sum of cash. A lot of traders will do this without ever recognizing the emotional toll it can have on you as a swing trader and the awful mistakes you can make in doing so.
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*Disclaimer: Ryan Mallory is not a financial adviser and this podcast is for entertainment purposes only. Consult your financial adviser before making any decisions.
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