Focus is so important in this profession, one needs to be aware at all times of positions, orders and finances. Redundancy is mandatory because mistakes are made. Well I had a YM short position on this morning from the time of the BAC earnings. My goal was to sell off 1/2 of that position when we got to Wednesday HVP of 13895, which we did in fact hit. But instead of taking off 1/2 position, I added 1/2 position. This is where the old me takes over. I held after I realized what I did. Market went up to test the 50% retracement of Tuesday to Wednesday HVP and I was seeing red. Believing that we would reverse, I sat on my hands. In fact, we did reverse to test the Wednesday HVP one more time. Where, I was to sell 1/3rd of my new position. Instead - yeah, that's right, I fucking added once again. It was at this time, that I cleared my positions in their entirety. End result was +85 ticks on the YM (equal to +$425 per one contract position). Madness. Off to get a cup of coffee and figure out why I got up so early.
Bad fucking process - good outcome
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