I shorted SPX500 last night. After 8 straight unprecedented green days for SPY, this drop was inevitable. But the market knew where I was sitting with my SL, so I guess I’m the sucker…
I believe it going to go down a lot more so just wait for a good entry again.
hey brother, dont worry bro, and dont be emotion and make a revenge trade. any major movement from the market needs a fuel and the retailers: stop losses are the fuel for it make big major moves. So just wait for your next entry, as it appears to go further down. 4375-4365 and 4380-4390
these two zones are the most important as there is a high possibility that the market will react in these zones and it might move further down. all the best for your future trades. come back stronger.
No Sir, no revenge trading here. It was later in the day that I even noticed I’d been taken out of it, and by that time I would have just been chasing.
Absolutely, we are the liquidity, and there will always be another entry. This is the chance you take when using a tight SL.
This is why I don’t like stop losses. The amount of times I have that happen is uncanny.
On the flip side, I forgot to put a sl in on a trade at the end of last week. I was really busy so didn’t check the account. In 2 days I lost nearly 2 months profit.
Ouch! Thanks for the reminder.
I guess you could say “you’re damned if you do, but you could be f****d if you don’t!”
Yea, I often don’t use stop losses for that reason, but that’s supposed to be when I’m sat watching so can get out when I think I got it wrong.
Eurusd doesn’t normally move as fast as it did, but the market got spooked by comments that have since been reversed.
Made a decent recovery in shorting gold, but I’ll still do well to end November in the green.
Ouch. Did you close it? Or is it still open? If it were mine it would probably still be open
I closed it. Could have left it open because it’s gone nowhere since. But there were better opportunities elsewhere to recover
that’s forex ,it’s no way out ,and you can’t do anything about it.
Oh good at least you won’t feel bad closing since nothing’s happened anyway. So many times I’d decide to close a losing trade and then right when I do that is when it reverses.