Stopped out. Loss = $250 per contract.
Adventures in Trading with a Killer
- Thread starter Hedge Fund Killer
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I'm not trying to answer for him, but from my perceptive its a small cost when the gains are large. I would rather be punished by a thousand cuts then to be gutted on one or two trades. At least the thousand cuts allows for more chances to rebound. Its foolish to believe the Wall Street sayings of death by a thousand cuts. I call it money management.
Maybe I am, on another planet, very different type of money management. Humble, nimble, I am towards the market and I just cannot lose more than a certain percent of my account. Well, I hope those 250$ per contract was just less than 2% of his portfolio, which I am sure it was not. But I have a feeling he is trying to justify this big loss by putting it in his journal and no one gave him to wake up call. So, here it is coming from me - considering that all futures contracts are leveraged and even if you are taking full price, roughly 5.000$, you now was hitten at the maximum of risk percentage. I am sure you can do better and get out earlier. All the best HFK! And once the best will come, please, answer why with all those years of trading you have join ET only since 2016.
I will try to ameliorate my performance.
Long RTY @ 1636. S/L @ 1633.
RTY @ 1640.3. S/L raised to 1636.
The almost did not come to fruition, The closes on the 5mn and 15mn were signaling weakness, hence the sell off. B-Bands are good but you have to watch the smaller time frames for hints of weakness.
Stopped out. RTY has filled the weekend gap. I will wait down below to buy, ceteris paribus.
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