Way to go Weldon!
You guys all kicked my !@# and kicked it bigtime! LOL. I had my first losing day since the first week of November. I got caught in the Countrywide denial news that hit the market this afternoon - kinda like my "plane over the White House" trade. I was in the process of legging into a 10 lot short position in the ES at 1417.75. I had just filled my first 2 contracts. My plan was to sell another 8 contracts up to about 1421.00 giving me an average price of approx. 1419.75 No biggie. Not 2 minutes after my first tranche fills than the news hits the wires - the market rockets!!! I'm not too frazzled by it but I'm down hard. I'm trading with trend so I'm confident, I place an order to sell 2 more contracts, yes, double down, which was part of the original plan anyways - order rejected!!! What the !@#$ ?...lol Now I get a message - and my platform shows me as flat!!! I WAS AUTOMATICALLY TAKEN OUT OF THE MARKET WITH A $1600.00 HIT!!! No, not a stop. I run a safety catch with my broker to automatically take me out of a trade at a certain point!!! I had forgotten about this little safety valve! !@#$%^& LOL. To make a long story short, what would have been a multi thousand dollar winning trade turned into a loser. We can all see where the ES ended the day! No, I'm not crying, I traded my plan, and thats the most I can ask of myself, losses can come at you from any number of directions... you accept them and move on. After the loss I went back in there and was able to make back a couple hundred bucks - I'll make back the rest over the next few sessions I'm sure. I also made a note of my "safety valve" level so I won't make that mistake again! Todays damage: -$1387.50.
For the rest of you guys that made your "quota" - great job!
Rob