For those who think I'm a liar here's the screen capture of my Interactive Brokers account for today. You will see that I had a huge gain today. It compensates for the huge paper loss I had on Tuesday (too bad I don't have that screen capture). Needless to say that I'm not proud I took that much risk. Regarless of that big gain today, my trading account balance is only about $300 more than what it stood at last Friday. Maybe I'm a reckless gambler/trader like some people qualified me but certainly no liar. I hope this is clear now.
How did you make so much on Crude if you sold at break even?
ReplyDeleteA trade that is carried over to another day as opposed to being closed out at the end of the day is considered by Interactive Brokers as a "new" trade. It means that on Tuesday I had an equivalent paper loss to the amount gained today. All in all it is a breakeven trade. Nothing more nothing less.
ReplyDeleteHow long were you planning on holding the short? What if CL hit 103?
ReplyDeleteMy panic stop loss was just above 102. My risk was a little bit too big for sure. Do not follow me on that.
ReplyDeleteThe question is not whether it was a breakeven trade or not.The question is whether you followed risk management.
ReplyDeleteDo you agree that you were sitting on a 7k loss at one point and no one knows what happens the next day?
You are right saying I was sitting on a 7k "paper" loss at one point and that my risk management could have been better on that one.
ReplyDelete