I sold 1 ES at 944 at 15:56:04..WHY did I get out :08 seconds later!!!!!!!argh!!!!

I

increasenow

TODAY...I sold 1 ES at 944 at 15:56:04..WHY did I get out :08 seconds later!!!!!!!argh!!!!

Okay...earlier, I was up $65.00 and then down -$44 going into that sell 1 ES 944 trade...because I hate losing days...I was so glad to see $20.00 profit that I sold with concerns of it heading the opposite direction again...argh...if I just held for about 3-4 more minutes could have bought at 919 for a sweet profit...anyone do this?...please add comments
 
Two reasons: fear of loss and inappropriate risk/reward. If you were shorting during that crash then you had to know that your potential for both profit and loss were very high with just 1 ES contract. Since you weren't willing to risk a potential loss of > $500, you got out as quickly as you could, even if it was just 2 ticks of profit.

Next time try shorting 50 or 100 shares of SPY, or buying 25-50 shares of SDS, accept the potential loss, and give yourself enough breathing room to have the patience to watch the trade work itself out. After you've done that successfully a few hundred times, then move up to ES.

Your goal right now should be to become a trader, not make a fortune. First learn the craft, the money will follow later.
 
Quote from filter_sweep:

Two reasons: fear of loss and inappropriate risk/reward. If you were shorting during that crash then you had to know that your potential for both profit and loss were very high with just 1 ES contract. Since you weren't willing to risk a potential loss of > $500, you got out as quickly as you could, even if it was just 2 ticks of profit.

Next time try shorting 50 or 100 shares of SPY, or buying 25-50 shares of SDS, accept the potential loss, and give yourself enough breathing room to have the patience to watch the trade work itself out. After you've done that successfully a few hundred times, then move up to ES.

Your goal right now should be to become a trader, not make a fortune. First learn the craft, the money will follow later.
More...
great insight...
 
Don't feel so bad since you at least got into the trade.

I didn't pull the short trigger since I just wanted the market poped up a little higher and then shorted. Unfornately it didn't pop much and dropped immediately. I watched the price dropped and didn't pull the trigger. It's tough to make a quick decision in such a short period of time with such quick moves. Crazy markets with crazy volatility call for super fast reactions/actions.
 
Quote from filter_sweep:

Two reasons: fear of loss and inappropriate risk/reward. If you were shorting during that crash then you had to know that your potential for both profit and loss were very high with just 1 ES contract. Since you weren't willing to risk a potential loss of > $500, you got out as quickly as you could, even if it was just 2 ticks of profit.

...
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like jesse livermore said:

We hope our losses dont get bigger so we hold on with hope...We fear our gains will be wiped out if we hold any longer so we sell way too early.

What we need to think is:On our losing positions, we should fear our losses may get bigger.On our winning positions,hope our profits increase.
 
Quote from filter_sweep:

Two reasons: fear of loss and inappropriate risk/reward. If you were shorting during that crash then you had to know that your potential for both profit and loss were very high with just 1 ES contract. Since you weren't willing to risk a potential loss of > $500, you got out as quickly as you could, even if it was just 2 ticks of profit.

Next time try shorting 50 or 100 shares of SPY, or buying 25-50 shares of SDS, accept the potential loss, and give yourself enough breathing room to have the patience to watch the trade work itself out. After you've done that successfully a few hundred times, then move up to ES.

Your goal right now should be to become a trader, not make a fortune. First learn the craft, the money will follow later.
More...

well put
 
Quote from StockApprentice:

Dude you are way out of your league. If $20 profit looks good then you're insane to trade the heavily leveraged eminis.
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Agree here.
No offence increasenow, but the fact you are posting this shows you need to take a step back and have a complete look at your trading.
 
Quote from StockApprentice:

Dude you are way out of your league. If $20 profit looks good then you're insane to trade the heavily leveraged eminis.
More...

the op is increasenow, does it surprise you he's doing something idiotic?
 
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