Bummer of a day for me. First part of the trade went fine, but I was expecting a turn at around 12,248. I got in on a buy and sure enough it started to go up and before long I found myself in profit. Now my achilles heel has always been taking small profits and not letting the profits run - so when I was +5 and +10, I thought no, I'm not going to do this again. I'm going to trade my plan.
Pooh sticks!!!!! (I'm not wanting to offend anyone, but it wasn't actually this that I uttered, but I think the post would get deleted if I actually typed in what was said.) Needless to say I do a really good impression of Mutley (from Dasterdly & Mutley - stop the pigeon) when I'm cursing under my breath!
Out at -43 - forgot my stop as well! The crummy thing is that if I'd reversed the trade when I got out, then I would just about have made all that loss back.
There is support now showing on the 4hr chart at 12,179 -93. Perhaps it will bounce here - although past experience shows that when it drops so dramatically in the first hour and a half then there isn't usually a reversal the same day.
