Small Position Stop Out At News Release VIDEO

I broke goal for the day #1 rule first thing this morning. I took a long with a 1 lot at the 1042.00 minor resistance area.

I was fighting myself mentally today. I wanted nothing to do with this open and made that clear on the prep.

Then I started to debate the fact that I should not play defense because this is more costly then getting stopped out.

The result of this was a 1 lot buy on a decent but not premium setup into the news. I knew it would be volatile.

I could not have won either way. If the market had run up 10 points it would not have mattered because the position was too small.

Watch the video. It is pretty good. You can see I quickly tried to cover after the first spike up. The first spike after news is usually a fake out.

This is a fairly stupid sequence of events for me this morning. I do not know if my gut was anticipating this or if I was over analyzing and caused it.

The loss is very minor and does not matter but the overall sequence of events deserves criticism.

I am going to forget about it and go with the best remedy to sloppy trading: the simplest path is the best.

CLICK HERE FOR QUICK NEWS STOP OUT ON SMALL POSITION VIDEO SLIGHTLY ENTERTAINING