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Looking at your first post you say you are following the Combine rules. I assume/hope it is a Combine account at least rather than a live loss.
I screwed up my own Combine today, also hitting the daily loss limit. Scaling in and out round a position works really well, until it doesn't. It looks so clear in retrospect but I find it incredibly hard to flip my directional bias when something unexpected happens, and take a small loss, relatively, compared to the much larger one; after the market suddenly steams off in the 'wrong' direction.
). I even thought last night - "It could break tomorrow. " as I went to sleep.
All of that was forgotten in the morning. I had a bad sleep - woke late and rushed. I have been trading as if it was a narrow range day and had some profits banked. When it started to drop I didn't hit the close soon enough and then when I did that trade ate into my profits and left me with $100+.
I tried going long again - too soon and without checking carefully enough. Things got worst when I added (as the overnight stop was still down a ways 71 with stop-running to 69 it was really dumb. (Support at 2467.50 and breaking that was a ticket further down.)
I tried taking contacts off hoping for a bounce but got confused with the loss banked and the open loss and the red was mushrooming fast (I had been 11 long). I really didn't know how to get out and I should have just closed out - rather than trying to save the day and end in the green.
the whole thing was incredible - I never trade that heavy and didn't realize how fast the bleeding can come.
While nobody knows what catalyzed for the sharp selloff over the last hour, with Citi blaming it on Acrophobia, or fear of heights, saying that "US equities opened at record highs, key levels were being approached in fixed income while USD enjoyed …
Nobody knows how big of a drop it can go, it could go nonstop all I know.
The market keeps going higher everyday, so the natural thinking is people will btfd, so I closed my positions way as early as it get's green since been underwater the whole morning. Boy that thing just kept going!
The funny thing is It could go your way and i'm in a deep red for the day. Funny thing this trading.
10:42 AM 7/27/2017
Closed 3 at 2478.25 10:38 - so I can take the dog for a walk
11:15 AM 7/27/2017
back - no change in ES
Profit on the day now $362.50
and long 4 with stop at 2476.50
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crazy to look at this.
If I just left things like this it would have been fine.
I'm in a bit of a funk about today.
Not a confidence builder.
