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After four days of being smug about getting and trading great signals, me
and Bullseye took in on the chin this afternoon. Indicators said to go long
at 1005.50. Filled at 1006.00. Market turned and I thought I was out at
1002.00, which was the original "stop-loss".
Broker calls and says my stop loss was not "elected". So now I am long
from 1006.00. Market is trading at 1000.00 even. Should I stay in?
Indicators are un-decided. So I elect to stay in, thus breaking a rule.
Long story short...I could have walked away with 4-5 pt loss, but ended up
with a 12pt loss. This, after five years of trading this sucker. Now I have
to wrestle with Globex all night.
Lesson? Follow your rules. No exceptions. (At least I hedged my account
by being long the SF).
Jim
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