I realize you are probably right sisse and I wanted to hold on but my leverage on adding to my shorts destroyed that chance. FIFO handcuffed me on even trying to release some of my positions. I tried to out-guess the market based on what I saw was FA sound. MACRO DATA and FA aligning and have been. Just a few hiccups but not in comparison to EU and cutting rates.
My hope is I am able to position for the CHEAPER seats and recoup the loss. I couldn't hold on to a run to .143X nor .17XX. FACT. As a result, I had to decide what allows me to stay in this arena and trade? If I am wrong and it runs to .143X that would take out over 3/4 of my account and .17XX (Gone). Right now I have the ability to position for the GU and EU. The only saving grace I will have will be to use the capital I have not lost to build back up. But, positioning for it will be the KEY to it with TIMING. I must get a good entry and leverage will have to be in check in case there is a WTF moment.
This is my PLAN.......
I felt closing the position would discredit me here as I have held on for so long! But, this year I have learned holding onto things requires wisdom and balance. There are times to hold on longer and times to let go. I am not a good trader as you claimed in the past as I would have recovered from this bad position in March. I would have made better choices to not add the way i did to my SHORTS believing I knew the MARKET was now going in my favor. I would have exited out of some of my positions earlier too!
I didn't have an exit plan, held on too long, BAD MAP, and ect.....all the things that make 99% of us here fail. I am the that guy! But, maybe by the end of the year I might break even or a little better and be a Good Trader and show you that your time here is not in vain!
My hope is I am able to position for the CHEAPER seats and recoup the loss. I couldn't hold on to a run to .143X nor .17XX. FACT. As a result, I had to decide what allows me to stay in this arena and trade? If I am wrong and it runs to .143X that would take out over 3/4 of my account and .17XX (Gone). Right now I have the ability to position for the GU and EU. The only saving grace I will have will be to use the capital I have not lost to build back up. But, positioning for it will be the KEY to it with TIMING. I must get a good entry and leverage will have to be in check in case there is a WTF moment.
This is my PLAN.......
I felt closing the position would discredit me here as I have held on for so long! But, this year I have learned holding onto things requires wisdom and balance. There are times to hold on longer and times to let go. I am not a good trader as you claimed in the past as I would have recovered from this bad position in March. I would have made better choices to not add the way i did to my SHORTS believing I knew the MARKET was now going in my favor. I would have exited out of some of my positions earlier too!
I didn't have an exit plan, held on too long, BAD MAP, and ect.....all the things that make 99% of us here fail. I am the that guy! But, maybe by the end of the year I might break even or a little better and be a Good Trader and show you that your time here is not in vain!