got another beating from the market .... whats worse is this was the 2nd straight day that i was able to make my losses from the morning back only to lose everything again in the afternoon .... ended the day -310
I shorted the ER2 all day into a general downtrend... why ain't I rich? * Went from +$500 to -$1,500 this morning working 5-lots in pieces. The expected chop following trend day was there, so scaled into trades. Trying to hold anything for +5pt gains got slapped out in the w-turns. Scaled back to 1-lot and 2-lot, traded back to par on unrealized gains four different times. Held all of them for profit objectives, all whipped out before the 3pm collapse. Example was short 5-lot from ER 674.00 and stopped out on a trail at 672.00, just before the expected plunge. Profit objective was 665 and was easily hit... right after the umpteenth pop into trailed stops. We never fight the market, we are always on the correct side or out for small losses. Some days the tape is just a little too rowdy, stops hit or hold and fortunes turn on a tick. Too many short trades ticked out before they went on to work profitably today.