Okay. So, good thing I was locked out of my account and didn't short this today. SPX pretty much filled the open gap from the 26th of December here. It seems like based on what's currently known, the market's not spooked by Trump. In the absence of any news or random tweets (which could drop this 100 points in minutes) maybe we'll just keep inching back up towards all time highs going into FOMC next Wednesday. I don't see any other big scheduled news until then. Of course, it only takes one tweet for this to fall apart. There's a lot of open air below if this should reverse course.
My worst nightmare is if we should get some unscheduled "CPI reaction" by a random tweet where the market moves 20-40 points instantly. I hope and think my fears are unfounded, but I'm sure nobody believed crude oil would go negative and those first CPI releases which instantly dropped 100 points in 2022 was unprecedented from what I can tell.
The brokers didn't even have the technical capability to trade negative prices, it was the most bizarre thing I've ever seen trading. For some (including those who bought at 0.01 USD, the problem was once negative, they couldn't get out. Also another wasted opportunity to mint money
As about the only guy here who cares about this, I appreciate the transparency. I'm sure the total loss is likely just 1/5 or less of what you made on the $35k day, so this is just good money management in action, but it really helps to put those good wins into perspective from the point of view of win rate.
Funny thing is I was long overnight and got wicked out 2 ticks below my stop. If that trade didn't get stopped out I would be green and done for the day. After that I just kept playing it safe trying to regain my drawdown and just got chopped around. There's a lot of luck in trading, too. Most won't admit it. My DLL is set at $2K, so today was $2x5 = $10K. I had a big winning day before that $35K day, so I'm still in good shape. In December I had a big losing day at around $30K. I just kept moving the DLL in real time thinking I'd recover on the next trade. Fortunately, Topstep have now added a feature where you can lock the risk settings and not change them in real time. I have no problems avoiding a cookie on a diet, but respecting my daily loss limit is difficult, so I'm thankful for hard coded systems to protect me from myself.
not too dissimilar to my day. I actually had a long limit order that NEARLY got filled on that spike down overnight (my time). Missed by like 2 ticks. Would have woken up too a very green day and not traded after work if it had have hit As it is i'm still stuck in this dow short and losing. I even added. (only because it's on the spreadbet account where I can be a bit more reckless due to even smaller size, BUT I will likely just cut it and eat the loss at EOD)
Trading can be a very marginal game. Often, there's not that big of a difference from zero and hero. But, running your winners ensures that you're on the right side of Lady Fortuna at times.