Proper risk management? You went long at 31059 before the CPI print with two contracts, and after the wrong call on CPI being soft and the market tanking, you averaged into your loser with what appears to be 3 more contracts, so you have an average of 5 at 30845. And the YM is currently at 30685. Yer in the hole for a LOT of money, and you are trying to justify it by claiming PRM? Doing that on an instrument that ranged 800 points is not prudent. Next time you are in profit, just get out!
5 or 50 contracts?, the image of his trading platform ladder would suggest he is making and losing $250 per point. Which suggests 50 YM contracts? Although i am not familiar with his platform.
He was up $+10,000 an hour before the close, and said he was happy to sit in that position until Friday. Currently he is down $-55000, assuming he still has that 50 lot short position on and hasnt cut his losses.
Rick> Are you long 50 YM from 30845, in a real account? Please tell me this is to hedge a $10M short book
He is currently down $-150,000, 600 pts on 50 YM lots, but i am sure he will be along soon to say he cut his loss when it was much smaller. Even though he made no previous mention of any stop loss. If his stop was a bit below yesterdays lows, he would still have been down about 100K.
If the original premise for your trade was wrong, why did you buy more? You more than doubled up on a losing position. Now you are out of they money by almost 200K, what risk management did you use? Even if the market rallies today and saves your ass, did you learn anything?
Your account is getting smaller and smaller. and Your loss is getting higher and higher. It is time for you to top up your account. however, if you had trade based on what the chart said, you would have profited massively.
Let's not forget the elephant in the room. The overnight margin on 50 YM contracts is $-440,000. So that plus his unrealized loss, whatever that might be at the moment, is tacked onto the account equity. So once again he is trading with a multi-million dollar account. Fascinating how easy it is to just trade that CPI.