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He did the right thing because the fat finger made him angry.....if he was not angry after the event, then he should have just got back in...but doing it angry can be disastrous.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
From someone with very little experience trading- but fairly good experience in fat finger mistakes, I think the reason for walking away was not because of the mistake, but rather because of the mindset that the mistake produced. I'm guessing that under ideal circumstances (keeping your cool after a fat finger mistake) then to keep following your trade plan would be fine. But I don't think he compounded his mistake by walking away after an event that took him out of focus on his trading. I vote for walking away in that case.... maybe because that's what I do
Schweaty. I love you salty holiday balls by the way. Maybe you could post a recipe?
First, having expectations about a directional market will kill you if you are not careful. Trade what is there, not what you think..or worse hope.
Second, Typical edge for even the best of us is very thin these days. You must pay attention to the details and totally master the stuff you actually can control.
Third, When stuff happens you'd be helping yourself to note the cause, improve what you can and move on immediately. Carrying emotional junk will weigh you down and prevent you from reaching the top.
My experience is the exact opposite of what you two recommend. I am usually MORE upset at when I don't follow my plan. If I make a mistake to get me off my plan, I try to get back on the plan as soon as I can.
Making trading decisions in an angry state is bad, I agree. But if OP is going to be so angry after a fat finger mistake - so angry and upset that he throws his plan out the window - he really should not even be trading.
I agree with your earlier comment but only after he has a "Advanced" Avitar listing because until you master emotion of a simple mistake more mistakes will follow that trading day IMO. And honestly as we advance that trade is gone so what they'll be plenty more to come along
I made a fat finger mistake, and stopped trading for the day because I was so angry. Am I now more angry about the ff mistake, or the fact I subsequently lost out on a big winner? What if the market turned up after my ff mistake, would I be happy I walked away?
I think I am (was) upset because I sat there and watched the trade go on after I made a fat finger mistake. To be honest, if I had not made the mistake and the trade turned against me and hit my SL, I would not have been upset. The loss would have been acceptable and no big deal. It was just frustrating.
because until you master emotion of a simple mistake more mistakes will follow that trading day IMO. And honestly as we advance that trade is gone so what they'll be plenty more to come along