I hate this situation

cdcaveman said:
Start over. Bad risk management. No mid trade hoping
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I'm going all or nothing on this one. I'll learn the lesson and change strategy next time.

Last time this happened, I finally got tired of waiting and sold gasoline futures at a $20k loss... Three days later it started going up and I could have profited over $140,000 if I held it.

Two bad days is nothing on a longer timeframe. And what if ECB comes out with a more dovish policy announcement now. Of course, if Russia stops attacking, I'm totally f*cked and I know this. I shouldn't have got myself into this situation, but I'm here now so let's see what happens...
 
I cut my losses on the copper future. Bought at 4.9285, sold at 4.7335.

Loss of $4,875.

But this one I believe could go downhill real fast if you look at where the price was before the invasion 4.4505. If it returned to those levels, I would be down almost $12,000 with no logical reason to believe it would ever go up soon.
 
farmerjohn1324 said:
Then things started going wrong. Specifically... Copper future started going down, 30-year Treasury future started going down, EUR/AUD started going up, and EUR/CHF started going up. I'm now down about $25,000.
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I am short Copper and Treasuries, long Eur, Aud, and Chf. I never bet on situations as they can't be tested, I will fade reports that are handed out by all countries 24/5.5 but as day trading.
I never use total leaverage on futures, keep it at steady 40% instead of exchanges. I never do naked options but will do wide credit spreads of 10-12 strikes. ALWAYS HAVE PROTECTIVE STOPS. I never have at risk more than half of one percent of account on any one commodity signal.
 
Handle123 said:
I am short Copper and Treasuries, long Eur, Aud, and Chf. I never bet on situations as they can't be tested, I will fade reports that are handed out by all countries 24/5.5 but as day trading.
I never use total leaverage on futures, keep it at steady 40% instead of exchanges. I never do naked options but will do wide credit spreads of 10-12 strikes. ALWAYS HAVE PROTECTIVE STOPS.
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Why long Euro? Why short Treasuries? On what timeframe?
 
Great thread.

1. Leverage is evil

2. I trade small size and often eg 70 rt daytrades daily 300 shares

3. Know what oversold and overbought looks like for several instruments you trade daily.. eg I made a fkload of $$ today buying UVXY off oversold bottom at 20.5

4. Most trading books and coaches are shit.
 
KCalhoun said:
Great thread.

1. Leverage is evil

2. I trade small size and often eg 70 rt daytrades daily 300 shares

3. Know what oversold and overbought looks like for several instruments you trade daily.. eg I made a fkload of $$ today buying UVXY off oversold bottom at 20.5

4. Most trading books and coaches are shit.
More...

I have a problem of discerning between "trending" and "overbought/oversold"
 
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