Your last sentence caught my attention... If you preferred to be short, why did you not exit your long and enter a short?
1) You did not exit all of your position on the open. 2) You averaged down on the rest of your position when we fell off a cliff instead of being more flexible with your target and getting filled at a slightly lower price. Hey, it was only one tick Is that two? Of course, hindsight is always 20/20 and I would have extended my stop with one point if I knew we would not trade above 1310 My two cents is that it seems very dangerous to average down in the current market conditions. If the market drops further (who knows), it may get very ugly.
Yes with hindsight, I should've exited all around 1309.5 But without it and realistically, the first mistake is that I violated rule #1; never leave a position on regardless of how small it is, without a trailing stop. Specially when your bias regarding the market has changed. As I explained last night, mine did. Rule #2: Never forget rule # 1 Averaging down was not the real problem, even though it didn't help. I currently hold an 8% position size from a 20% size I was carrying during the day. So I am actually welcoming a bigger drop so I can accumulate at a much lower price, at least I hope so.
You chased price and had a poor entry on the move down and had your stop near a R20 from 1288.5. I posted last night about 1313 area being a max high before a fall.