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Well This Just Sucks….

Previously I had talked about a long trade on the Dow I was running – nothing new there and the rationale and management of the trade was hardly revolutionary.

However, I did something profoundly f#%^en stupid – I transposed a digit on my stop and got pinged out by a spike because my stop was in the wrong place. I have to admit I have not made an error on an order in over 20 years…..but its still a dim thing to do.

So what now?

Obviously I would prefer not to be out of the damned trade but it is what it is so I have to opt for Plan B which is to wait for another signal. This sounds simple in practice but defining a new signal is somewhat more difficult. The most obvious thing to do is to wait for a breach of the last high at the 13,365 mark.

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Comments

  1. Did a similar thing with the Nikkei trade. Used the metastock data and got stopped out on an IG spike. Had I used the IG data would have been still in the trade. However I did get another signal and back on the bike.

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