Wednesday, August 29, 2007

Aug 28 $-5,100 on 262c

Yesterday I did everything wrong and had to leave to work before I could post. I was short going into the close, but apparently I kept using too tight off a stop, which frustrated me and I ended up getting long some how and lost money into the close.
I was down about 4k from account churning and using the wrong order execution during the mid-day, so I was trying to use size to make things back before the close, but the losses just kept coming.

P/L= $-5,100 on 262c

With the way I've been trading the last 2 weeks, I was due for a big loss. My skills in adding to position has been terrible, by that I mean I've been using buy stops to add to longs and then I would trail my profits even closer, and I would just churn my account when the price has remained relatively flat. If I do the exact opposite of what I've been doing lately, I may have found the edge that I'm looking for.


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