What I had perceived as "solid" support at 100 gave away and flushed this trade very quickly. I failed to act quick enough and realized a larger loss than I had anticipated taking on. My attempt to mitigate my risk by selling calls helped slightly but not nearly enough. Out @90.80
Trade summary
Entry: 103.48
Exit: 90.85
2526
calls: entry 1.70 (short)
Exit: .40 (covered)
1.30 260
- 3.9 R (ouch).
This turned out to be my worst loss of the year, It fell quickly and I was not prepared. My worst trades seem to always happen after I've had a good run and my equity curve hits highs. At that point, I take too much risk, or in this case try to bend my rules. This could have been a disaster as EMES then fell another 17 points by the end of the week.
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