Hey Guys,
After yesterday's email, the market went down further and knocked out a few more of my trades, including one of my longstanding MES futures positions. Then the market marched back up 100 points in the last hour and a half of the day. This morning it opened where it closed yesterday.
We saw something like this last week where I had some stoplosses get hit, and then the market (and those stocks) promptly went up. That can sometimes bring up tough feelings, such as regret about setting stoplosses in the first place since cutting the cord on the positions prevented me from riding the stocks back up. In last week's case though, the market came back down hard two days later. And with the market exhibiting high levels of volatility, the same thing could easily happen in this case. There's no way of telling for sure where it will go from here, and there could be all sorts of twists and turns along the way.
I haven't taken on any new trades yet today. There haven't been any that triggered. So it's a quiet morning after the storm we had over the last two trading days. I'm just going to keep following the back-tested trading strategy and live with all the different seasons that it brings.
If you have any questions or feedback, I'd love to hear from you.