Talk about being on the wrong side of a trade
Started by
hedgehawk
, Jan 15 2008 09:35 PM
6 replies to this topic
#1
hedgehawk
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Posted 15 January 2008 - 09:35 PM
I almost got my head chopped off after hours. I was in at 1386 on the ES for a long scalp (been working till this time) and for some reason decided to hold through the Globex dust cleaning period. Big Mistake. INTC drops an egg, and my stop gets gapped and I am underwater big time!
So I double down, which I never do at 1374(I thought shorts would start to cover), and Mr Market is going to let me out with a lucky 1 pnt small loss(at 1379 now). What a market! The anxiety I have suffered for the last 5 hours has been gut wrenching to the say the least. I guess I like the abuse cuz I keep coming back for more! I am exhausted.
#2
SemiBizz
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Posted 15 January 2008 - 09:47 PM
At least you traded your way out of it !! Good job. It's Miller time after something like that... or Bud or whatever. 
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Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
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Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#3
hedgehawk
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Posted 15 January 2008 - 09:53 PM
At least you traded your way out of it !! Good job. It's Miller time after something like that... or Bud or whatever.
Hey, thanks for the idea, I will crack one open now!
#4
OEXCHAOS
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Mark S. Young
Posted 16 January 2008 - 07:08 AM
I'd be into the gin.
I've been there, done that. Emotionally draining. Good job, though, keeping your cool.
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#5
skyymaster
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Posted 16 January 2008 - 08:34 AM
Good recovery ! Gotta take what the market gives, in this case, one point loss. Never fight it. You found out you were wrong and market was right. You got on the right side and that is what counts. I did the same early in the morning. Saw right through their eyes on INTC and sold for .50 profit. I will take it. Better then -$3 loss if I would have held. 
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Remember this day, men, for it will be yours for all time.
Remember this day, men, for it will be yours for all time.
#6
skunk
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Posted 16 January 2008 - 09:00 AM
I almost got my head chopped off after hours. I was in at 1386 on the ES for a long scalp (been working till this time) and for some reason decided to hold through the Globex dust cleaning period. Big Mistake. INTC drops an egg, and my stop gets gapped and I am underwater big time!
So I double down, which I never do at 1374(I thought shorts would start to cover), and Mr Market is going to let me out with a lucky 1 pnt small loss(at 1379 now). What a market! The anxiety I have suffered for the last 5 hours has been gut wrenching to the say the least. I guess I like the abuse cuz I keep coming back for more! I am exhausted.
That's why we play this game. Adrenaline. Keeps you coming back for more.
#7
milbank
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Posted 16 January 2008 - 09:30 AM
I almost got my head chopped off after hours. I was in at 1386 on the ES for a long scalp (been working till this time) and for some reason decided to hold through the Globex dust cleaning period. Big Mistake. INTC drops an egg, and my stop gets gapped and I am underwater big time!
So I double down, which I never do at 1374(I thought shorts would start to cover), and Mr Market is going to let me out with a lucky 1 pnt small loss(at 1379 now). What a market! The anxiety I have suffered for the last 5 hours has been gut wrenching to the say the least. I guess I like the abuse cuz I keep coming back for more! I am exhausted.
I admire your candor hedgehawk and am glad you were able to get out with just a paper cut.
"The power of accurate observation is commonly called cynicism by those who have not got it."
--George Bernard Shaw
"None are so hopelessly enslaved as those who falsely believe they are free."
--Johann Wolfgang von Goethe
