Ah how can i be so stupid! :)
- Thread starter affan
- Start date
I usually only trade 1-2 contracts! rarely i trade 3. Plus this trade i had a tight stop 15 point stop with a total loss of 2% of account. But still i agree i should not have traded 3 contracts!
I have no idea why my positions were not closed. Maybe because i have other accounts with tradestation? my accounts are linked with one platform and the combined total should easily cover margin requirements, not sure though if thats why.
I will paste a big -4k sign on my monitor so to never make this mistake again and ofcourse use some kind of OCO!
I have no idea why my positions were not closed. Maybe because i have other accounts with tradestation? my accounts are linked with one platform and the combined total should easily cover margin requirements, not sure though if thats why.
I will paste a big -4k sign on my monitor so to never make this mistake again and ofcourse use some kind of OCO!
don't sell yourself short..
i'm sure you can be more stupid than this.
i'm sure you can be more stupid than this.
Shit like this happens .. you just have to pay extra attention to details. I usually use OCO orders and also hit the "Cancel All" button whenever I leave (w/o positions) or I know there shouldn't be any orders.
Your main objective now is to get out w/o further losses. Log in for Sunday night open. Hope market doesn't gap down Sunday night given the weak close.
Your main objective now is to get out w/o further losses. Log in for Sunday night open. Hope market doesn't gap down Sunday night given the weak close.
I've done the same thing a dozen times. I'm usually trading a few different markets so it's easy to forget. 20 years of ganja use doesn't help either....
Quote from affan:
Well i am having mixed feelings now, today i lost a ton of money but i am not feeling very upset, maybe just a bit down considering i ate one cereal box and one big bag of chips, and considering how health conscious i usually am, maybe that was my way to vent!
I opened a 10K account for futures trading few months back and had got it up to 11.1K. Today i shorted 3 YM contracts around 9am EST and made 21 pips for a nice $330 profit bring my account to around 11.4k. I was happy with my result today and decided to call it a week. But it was not meant to be! See after i placed my order i went to take a shower, and placed a 15 point stop market order. When i got back from my shower i saw i was up and closed my position. BUT I COMPLETELY forgot to cancel my stop market buy order for 3 YM contracts and i went to work!! I don't know how could i be so stupid! The stop was at 10620! And it was placed at 9:31 i believe, and I had no idea!! Even more shocking is that market today went all the way up to 10827 giving me a undeserving unrealized profit of over 3K! Ofcourse i had no clue i had that profit, i thought i was out! Then the market went down all the way to 10350 or so! and now i am down almost 4k! Sigh i can't believe i forgot all about the stop order. I have been so disciplined before this! just feel dumb now!
So had to vent, sorry
Actually the markets are due for a sharp rebound.
If you have other accounts and can wait it out, there's a possibility that you can see this trade move back into the green (yep, this and plenty of other crap has happened to me also).