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Good evening Traders! I hope you All had a great weekend.
I've had a good one. Golf , Supper with my Brother, and spent most of the day with my Son.
I got all my chores done. House is clean, clothes are washed, bills are paid.
Now time to prepare for Globex
$MES $NQ
I've had a good one. Golf , Supper with my Brother, and spent most of the day with my Son.
I got all my chores done. House is clean, clothes are washed, bills are paid.
Now time to prepare for Globex
$MES $NQ
So I've learned a lot from other Traders on Twitter I have met a lot of good people here Most are willing to help At times Traders clash and egos get in the mix but I like to think we are all a team
The primary reason I post content and trades is to add to the stream of knowledge
The primary reason I post content and trades is to add to the stream of knowledge
So my next couple text will hopefully help others.
Friday I made a mistake and I'm probably going to pay thru the teeth.
Friday I made a mistake and I'm probably going to pay thru the teeth.
I normally never take a position overnight or over the weekend.
Unless I've made a plan for it.
I arrogantly took this Short position on Friday at the close.
Unless I've made a plan for it.
I arrogantly took this Short position on Friday at the close.
So I've been on a very good win streak. Weeks of solid trading. But no Trader is perfect.
This press conference at 5:30 will likely break my win streak.
This is going to cause a chain reaction for a limit up event.
I hope I'm wrong.
This press conference at 5:30 will likely break my win streak.
This is going to cause a chain reaction for a limit up event.
I hope I'm wrong.
So here are my choices.
Fold or Fight.
I choose to Fight so I have to get busy.
With any Trading position you must know the Math. What are all the possibilities.
1st is the Knock out punch
Limit up = .05% = 578pts = $1156
Fold or Fight.
I choose to Fight so I have to get busy.
With any Trading position you must know the Math. What are all the possibilities.
1st is the Knock out punch
Limit up = .05% = 578pts = $1156
Next is can I get a stop order filled? Do I try to "Be quick " with a overhead limit order? Do I wait for a pause and get a decent fill at the market?
These are must of the choices for taking the loss.
These are must of the choices for taking the loss.
Next is can I scale in? I have enough funds in this account to weather a limit up. But not willing to go to deep.
And understand this. I'm not in a panic. I don't panic. I've face death many times. This isn't death. It's just money just a Trade. But in my opinion you should be personally invested in your Craft. If you succeed absorb it and analysis how you did it.
If you fail you must also own it!
Learn from it break it down until you know the chain of events that led you there.
Learn from it break it down until you know the chain of events that led you there.
So here I am. Maybe I'm wrong and we open flat or even down. But my trigger for this thread was realizing I made a mistake. And was caught off guard with no good way out.
We Traders are blessed to do This! We are a small special group. And others don't know or understand why we Trade.
Hopefully I can Trade out of this one. But if you learn anything from my mistakes. We all gain.
See you on the Field.....
Hopefully I can Trade out of this one. But if you learn anything from my mistakes. We all gain.
See you on the Field.....
