Getting Out of a Bad Spread Trade

Quote from cmdtytrdr:
----My suggestion would be....
----It's actually an interesting point to debate....
----I would argue that....
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Psychology-babble aside, would it be better if he drank wine or cognac? Both are derived from grapes but involve different production processes. :confused: :cool:
 
I would get flat on losing position and buy some options to try to recover losing position. The trade is wrong, go the other way.

This is why diversifying makes more sense that putting it all on red or black.
 
Quote from nazzdack:

Psychology-babble aside, would it be better if he drank wine or cognac? Both are derived from grapes but involve different production processes. :confused: :cool:
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cognac
 
Woke up a few minutes ago (severely dehydrated) and I AM BACK IN THE MONEY BY A LOT!!!!!!!!!!!

Holy $hit I thought I was done.... I am actually walking a way with a nice profit!!!

As for the spread they are all thinly traded instruments and I do not want to say what I am still in.

I think this is a first, the Grey Goose set me loose strategy. Grey Goose and Coke Zero to be exact! I need to try this again next time I am in a jam.......

Finally, I think I am setting a new rule. I can only double down 4 times and after that if the trade does not go in my favor after a day I get out of half...

Ha Ha Ha I am still back in the game! Man I was really scared!
 
Quote from CaptainObvious:

He learned nothing from this experience. The guy should run for congress.
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What I learned a long time ago is it is better to keep doubling down then to take hit after hit on trades that would work out if you only got a better price.

Yes I do plan to get into politics once my hair starts going grey!

As for playing? Nobody will ever know the whole story.....
 
Quote from Satan's Helper:

As for playing? Nobody will ever know the whole story.....
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I think we do ...

1. You were drunk/stoned/hallucinating. The whole thing was fiction...

-or-

2. You were in a thinly traded spread where one underlying hadn't had any trades yet, and the other(s) opened way up/down. This would only matter if you created the spread manually instead of trading an exchange-traded spread.

Your allusions to your lack of sobriety make me think you had an ETS on, but your fuzzy mind thought you had manual spread on. You must be using CQG, too!
 
Quote from Satan's Helper:

What I learned a long time ago is it is better to keep doubling down then to take hit after hit on trades that would work out if you only got a better price.
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And just how the hell do/ would you know that - till after the fact

=====================

Don't fool yourself SH.., you simply got damn lucky today - no skill involved whatsoever

One of these times you won't

Those who refuse to learn from history....

RN
 
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