Ok, this is a point you don't really want to get to as a trader, but my stock account has taken a 20% draw down from its high (Mostly because of a stupid exit strategy on POT. I held a long put on POT over this past weekend; and the markets were closed on Monda due to Presidents Day. I knew before the close that THETA was going to kill me and stop me out if I didn't exit then. Well, I went to close the position at market but it wouldn't allow me because my 'Day Trading Buying Power' was too low to place the order...also, I had a stop still in place on a position that I had just closed out that tied up a lot of capital. By the time I realized this, the markets closed and I was stuck....Tuesday morning POT gapped up 1.30 or so along with the THETA...I lost $...I then swing traded POT through out the day and cut my losses but not enough...
So, per my trading rules, if my account takes a draw down of 20% from its liquidating high, i have to take my trading to paper. I'll come back to real money when I get a 70% win streak (with a minimum of 10 trades). I'll still post my paper trades
The good news is that my currency account is blowing and going. So as one account goes up, the other goes down....I need to fix that...
Have a great day; I'm off to Denver!
1 comment:
Go POT go! Sorry, had to do it.
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