Agree. It's first time for me in a long time breaking the stop rule. I have rules for a reason. Good thing is not a big drawdown and can get back to business.
The reason you cut them short, the market is doing something unexpected or diverged from your model. When it diverges, it essentially can have major contrary slippage. The model your using may be similar to others, so your position fails other positions are failing, and it forces a cascade of exits. So can be excellent entry versus a exit. It's much harder to make back the slippage. Stop losses signify model failure. And when they get triggered have immense informational value.
Good insight and lesson learned. Not sure what I was thinking at the time. A stop is a stop and is there for a reason. Since I started posting on May 3rd....gross +14.5 pts, net +12.5...this last trade cost me 18.5 pts+comms...expensive tuition
Profit target hit, net +7 ES seems to have a quantitative moving average of behavior. Previous behavior implies future behavior, till an event breaks the behavior. The new behavior becomes factored into future price patterns. Only thing one can do is create model of existing behavior.
There is risk that 2392/88 is touched. Limit short 2398 TP 2393 SL 2403 Edit: not filled yet,.. Upper zone 2402 Lower zone 2392