Tuesday, July 01, 2008

I screwed up


I got killed on my NQ short, I was originally long, reversed and shorted the low, then held for a huge loss and screwed myself, I told myself long only, but I screwed up bad today.
Not sure why, but ER2 ended the day lower today while NQ and YM were up. Today is a terrible day for me.

7 comments:

Anonymous said...

I did the same thing in ES...thought it was breaking down for a big time drop, shorted the low, kept waiting for the sell off, then just kept waiting for some kind of retracement so I could stop the bleeding. Long story short I held waiting and hoping for some kind of drop and got killed. I'll learn a lot about myself as a trader in the next two days, need to refocus and not try to get it all back at once.

Anonymous said...

today was one of those hind-sight days...i got short early, made a little, sold more, made a little more...waited, waited, waited, sold more on a whim, then covered for breakeven on the day. i almost sold again to lose money, but realized my rules said not to sell. yea, yea, should have bought the triple bottom and made 15 points, whatever. close about 1290 maybe i will buy not the ES but the ER. the bigger the rebound, the more i will sell under this triple bottom. don't feel bad, just take tons of notes of rules and try to adhere to them. one suggestion: try trading another un-emotional contract. i'm up 1000% more trading bonds, but the stupid ES still suckers me in.

Anonymous said...

ER2 held up through last week's portion of the selloff. This week it has been a dog with fleas, underperforming every other index out there. Heck, even the bear's bitch XLF closed up today. Not sure what ER2's problem is, but NQ is holding up best for certain.

Bluedog on 7:31 PM said...

Bummer, dude. How bad of a hit was it? I'm in a sketchy LDK position that hopefully will work out tomorrow. Trend is down but RSI shows deeply oversold. RSI(2) is at 4.

HPT on 11:08 PM said...

Blue, I lost a lot. If I recover some tomorrow I might say. The weird thing is, I had a feeling I was going to lose a lot today before I even started trading. I got the feeling last night. I felt like my life was starting to turn around and that I was getting back on track. Same thing happened right before 2 other blowups.

sage08 on 2:14 AM said...

You could average up every 10-15points. That will give you a better chance of breakeven. That's how i escaped from most of my near blowups until i decided to put an end to it.

Anonymous said...

sorry about the loss that sucks.. this market is very down! :S

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