I was very strictly disciplined. A little discretion when market constipated, who doesn't? Matters of entry? Extremely disciplined! SL? Strict disciplined! PT? One lucky mistake again and one Trailing Stop.
I have never felt like a robot before till this day. Though the result weren't good. Maybe it's just the whipsawed choppy market.
Lesson I learned today. Actually yesterday's also but hey, I am merely human.
1. If there's a contrarian break, while stll having opposite position, get out immediately. enter the new signal given. I lost around 6 ticks because of it.
2. Exit the position before news release. It's gambling having a position. Also I may get painful slippage. I lost additional 10 ticks because of it.
3. Do not wait for the best price. Very slim chance I might get filled. 1 Tick worse is okay. It's like save $12.5 but lost $300 opportunity.
4. ES is bucket shop runned by HFT. I may stopped out when price went there just in milliseconds, but won't get filled even the price going there dozens of time if I have right direction. It's also because the Stop Command triggered. Can't blame it so much.
So actually if I didn;t make mistakes I will profit not losing...
Back after the FOMC result..
Agree, don't trade news, do it either before or after, don't carry a position cross it. spread is hudge
ReplyDeleteI lost the battle post FOMC. I don't trade news. It's gambling, but I do trade the setup.
ReplyDeleteES like a bucket-shop. I never got best price even the price went there a couple times. But if SL, even only in milli-seconds you will be stopped out. Aaargh....
Couple of these things lost me $500 yesterday.