10% of my capital out because of a wrong pressed key!!"$%&%$··

Solution to mitigate risk-

http://www.access-is.com/dealing_room_multiple_trading_keyboard.php

http://www.access-is.com/news_dealing_and_trading_keyboard_keypad.php

http://www.mighter.com/mpkb4000.htm

 

View it as tuition for learning to always check your positions immediately after a trade entry.

It's a lot cheaper to sit down and work all this shit out in advance. Just like a pilot has a takeoff checklist, for things to do before, during, and after takeoff, you need a trade entry checklist of things to do before, during, and after you place the trade.

As for trying to 'work' the position out once you realised your error, big LOL at that. There's only one rule for errors - exit asap. Never ever try to get a better exit price on an error. Since it's not a position you wanted or have any edge in, maintaining risk is just totally irrational. You should count yourself lucky it was only 10%.

 

check pending orders at regular intervals.

 

ronin, I know what what it feels like to have that happen. if your trading in and out of fast moving market, your best bet is modify a game controller to work with your hot keys. if you've got quick reflexes it will shave milliseconds off your entries and give you a better sense of control holding the physical order entry buttons.


This is my 'dogbone' style game controller I use with Thinkorswim hotkeys. Very cheap and out of the box it plugs into any USB port. I had to adjust the modifier key settings on my computer and download software to program the controller. The paint job took about 10 minutes with nail polish.

 

Where's your "double up and take the other side" button?

 

These are the only buttons I need. Note the Dpad, Start & Select buttons are unassigned. You can customize the buttons to your trading style.

 

Trading is a game. so is poker, they are games of risk. Go ahead, take another moment to laugh at his loss. You probably took some big hits during your failed attempt to trade & this is the only thing that consoles you..

 

Yeah, you should really get in the habit of constantly checking your open orders and open position windows to double check that everything is going according to plan.

 

I wouldn't be frustrated, I'd get a new trading platform. You didn't get a audio alert when you were somewhat red ?
You should never get REALLY red if you at least get an alert that the trade has immediately gone south.

 

LOL that is awesome. Patent that.