So, you had a real bad trade how are you going to handle it?

B

bat1

You entered a trade to late

or your trade is going against you

and you sell out with a Big loss....

So how does it feel?

How are you going to handle the pain?



you going to kick the dog or maybe you going to drink it down
and hope the loss goes away....

or are you just going to keep moving and learn from it:p
 
Quote from bat1:

You entered a trade to late

or your trade is going against you

and you sell out with a Big loss....

So how does it feel?

How are you going to handle the pain?



you going to kick the dog or maybe you going to drink it down
and hope the loss goes away....

or are you just going to keep moving and learn from it:p
More...

What a flipping day to ask this question, I not only took one full loss but took two of them in a row today in ES, I trade 300 lots at each price level in the morning till I make my daily goal, so I average down on each trade going against me for a total of 13 levels on the Dom, so a total loss on 3900 lots, each price level will lose one tick less.

I am like the deer in the headlites, empty feeling in my stomach, I look outside to see if EMS has been called out, pinch myself hard to see if I been dreaming this nightmare. Keeping staring in disbelief if I did something wrong !!! I didn't get angry, just looking if there was something I missed, the method just lost, ok, get up, do a couple jumping jacks and sit down. Market keeps dropping and no signals to get short, I sit there, tick tick tick tick, WTF is that sound coming from? Never noticed that clock making that sound before.....ok, ok, ok, get the game face back on. Ok, signal to buy, wow going against me and add on, get one tick plus on original entry plus more on add-ons. I went into more defensive mode, quicker to breakeven plus one tick, smaller targets, never went for any homerun trades cause that not my style of trading. In the end of the day, I recovered 65% of my losses on fourteen trades. Today was a good day, I stayed focused, didn't force any trades, no revenge trades, all system trades.

Will today's trading make me change anything of my method, no. Losses are part of trading. Have to remain as calm as I can to stay disciplined, focused on my rules. Will this happen again? You bet it will, it is part of the game, can't take it personal, the method lost, not me. Tomorrow I won't change a thing cept get rid of the clock....
 
Quote from Handle123:

What a flipping day to ask this question, I not only took one full loss but took two of them in a row today in ES, I trade 300 lots at each price level in the morning till I make my daily goal, so I average down on each trade going against me for a total of 13 levels on the Dom, so a total loss on 3900 lots, each price level will lose one tick less.
More...
WOW!!! God I miss Master Cheese. He's the only poster here that could make me laugh due to his often very logical and humorous comments.
 
Quote from bat1:

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How are you going to handle the pain?


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i had a huge losing day last year... i didn't blink stared at the chart for a while and then went to bed..slept well..next day i was back to work like nothing had happened ..completely numb...
 
It's $50 a point for each lot. Every point against you is $15k (300 lots). Say at 1950 handles, ES is down 5 points, by now you are down 500k. What was your lowest drawdown point?
Quote from Handle123:
What a flipping day to ask this question, I not only took one full loss but took two of them in a row today in ES, I trade 300 lots at each price level in the morning till I make my daily goal, so I average down on each trade going against me for a total of 13 levels on the Dom, so a total loss on 3900 lots, each price level will lose one tick less.
More...
 
I also got caught long in that down day. I held overnight which is something I usually don't do but I felt strongly the markets will be bouncing back and forth as it tries to establish a bottom. It came back almost to my breakeven point so I decided to hold. Damn thing dumped 10 points straight down. I eventually threw in the towel. Taking my biggest hit of the year.

F**cker rebounds by end of day to recover all 10 points and more. I just didn't have the fortitude to keep holding after having held overnight with a big loss.

Psychologically, I felt good. A little disappointed but I had been doing very well the last 2 months so this loss didn't faze me as much, instead I felt the resolve to make it back.
 
Quote from bat1:

You entered a trade to late

or your trade is going against you

and you sell out with a Big loss....

So how does it feel?

How are you going to handle the pain?



you going to kick the dog or maybe you going to drink it down
and hope the loss goes away....

or are you just going to keep moving and learn from it:p
More...

You really should not have these kind of days if your position sizing is correct.
 
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