3:10pm CDT - Is it Monday? This last trade I made with 4 contracts long tells the story pretty well how my day went (see chart). We've all had this happen so many times we begin to believe that the market knows exactly where we have our stop. This trade meandered for a bit before deciding to test support and trigger my stop (which I thought was set far enough below support that a little noise wouldn't hurt me). It didn't trade 1 tick lower before proceeding up 6.5+ pts. to my target.These things happen. At least I stopped for the day after that.
| RESULTS FOR DAY | |
|---|---|
| Contracts: | 28 |
| Net $P/L: | -1248 |
| Wins: | 2 |
| Losses: | 7 |
| Win%: | 22 |
| Avg$Win: | 98 |
| Avg$Loss: | -206 |
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The exact same thing happened to me earlier in the morning, where price came down precisely to my stop-loss, and then started running off; I didn't hesitate and jumped right back in, and rode it for a few points making up the loss and then some. That's why I try to focus on risk/reward; 1 winner can offset 2-3 losing trades. But I def. feel for you; sucks when this sort of thing happens.
ReplyDeleteBetter luck tomorrow man!
I think it was a mistake to take long trade after false breakout and reverse bar at 10-15. When you take trade against trend stop-loss setup should be very tight-scratch or 1 tick below 91100. Also, you had almost 30 min to get out from the trade.
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