Quote from spanish89:
Ive now had to average myself by adding 2 extra contracts,
so average price is 46.26
So you shorted at 44 and have added another double sized short at 47. To give an average entry of 46.
Nick Leeson would be proud of you.
This will work a few times, but eventually it will wipe you out...
Your plan seems to be to take small profits and hold on to and average big losses. Thats no way to trade.