Missed the HOD by 6 ticks. Maybe if I start using tick data, I can improve my accuracy. More work needs to be done...
I went LONG last night at 3704.5 and another one at 3750 circa and rode them till 3823.5 this noon; Thought we would get back to circa 3830 today. I was wrong. Not exiting Micros at 3823 was stupid. After exiting ES, on the dip, bought ES this afternoon @ 3817, 3810.25, 3800.25, 3789.25 and 3785.25 Bag is 5 ES, 8 MES and rt now -8900.
Vent. I don't know what possessed me. I was so sure it would go above 3830. This is atypical of me, unusual to go long on a span of every 5 point dip. The funny thing is around 3816 there were 2 scalps too. 3817 had a exit order at 3823.5 which never came. Over confidence or greed. Plan to wait before pulling the trigger.
How much was your unrealized P&L on the overnight low @ 21,50? If you get out of this "alive", I think you should consider yourself very lucky and promise yourself to never do something like this ever again. Averaging down works until it doesn't and you're essentially setting yourself up for that one major loss even if you win 9/10 times otherwise. Next time consider using a trailing stop to lock in profits. Good luck. PS: You could consider hedging part of your position by short selling NQ/YM, but not necessarily an easy play in practice.
I think I wS not clear. I took the profit of nearly 8000 when I exited at 1 pm yesterday. I was flat at 1 pm. Then did a cpl of scalps before losing mind. We were looking good this morning until the big drop just now. That was on a vaccine news.
Quick math 3817 to 3721 will be 20k loss approximately on a bag of 5. I wd ignore micros since I have a longer time frame. Approaching 3790 will make my day. I will bail at 3712.25 no matter what. That we still leave me 5k up for the month. That's the only solace.