Made a rookie mistake today

Discussion in 'Trading' started by HolyGrail, Aug 15, 2007.

  1. So I am long es while the market was moving up. The position was in the black. I set what I thought was my stop, but was not paying attention. I actually bought more at my stop. Since I thought my stop was set, I decided to go have a cup of coffee. When I came back I noticed I had twice my normal position, and I am long. Of course the market tanked further and I spent the rest of the day making up for that stupid mistake. It should have been a great day, and instead I ended up losing for the day. What a putz!!!:mad:
  2. sucks. but been there done that.

    i guess the old mantra 'losers add to losers' holds true, although it wasn't intentional. bummer.
  3. been there, we all have

    forgive yourself and move on
  4. Rocko1


    Just find a way to prevent it from happening ever again, and know that it can only get better from this point on :D
  5. It was just carelessness. I was coming off my best two days, and was up a good bit before the error. It could have been a whole lot worse. That last hour decline saved my butt. Tomorrow is another day.
  6. MattF


    guess the solace is that you were only down some vs. down what you could have been with that move.

    Oh well, shake it off. Everyone screws up at least once on these things...we are human after all :D
  7. You need to bail as soon as you find out you made a mistake.

    Prayer is not answered.

    Even an imbecile like Longhorns knows that, he's been praying for years.
  8. I go by sound. When I enter or exit the market I get a TA Da sound. I left to go get coffee after hearing that sound thinking I was totally out of the market. When I came back, I still thought I was out of the market. When my system gave me a short signal was when I noticed I was still long.
  9. I'll beat you for stupidity. I keep around 6 DOM's open. ES, NQ, ZB, ZN, Corn ect.

    During one of those zillion point late day index ramps last week I nonchalantly attempted to reduce my ES screen. Instead I dragged the mouse into the sell column and in one click I was short 5 ES in a market that was rallying a point a second. Cost me an almost immediate 4.25 pts......