Seething Over Stop-Out

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OK, OK, I am obsessing, I know. But I've just got to get this off my chest. Again.

As my post early today stated,  I bought 28 /ES at an average price of $674. I stupidly set my stop too tight and – – with what I am convinced was a deliberate "run" by a market maker – – got blown out with a meager $1,000 profit. By the end of trading day, those same 28 contracts had a profit of $58,800.

Piss. Me. Off.

Now, as traders every day – – every hour! – – is filled with "coulda beens." But this one really stings. One thing is for sure – – I'm not going to have stops set too tightly again on the /ES, particularly during after-hours! Because there is real truth to what I've heard about the scoundrels out there. Here's a graph below showing what an insignificant "blip" the take-down was in the grand scheme of things.

Now one might rightly ask……..why didn't you simply re-enter the position? In retrospect, this is obviously a sensible question. Last night, though, I felt it would be "chasing" the trade to re-enter it. The entry point I had was a good one, and it isn't wise to jump back into trades just for the sake of getting back in (at a higher price), because that often compounds the error.

Anyway – – the irony is that it was actually a good day for me all around. But my profits would have been double but for this one simple mistake. Shame on me!