Had a rough ride trading Indices over the last few days.
Shorted the U.S Hourly triangle breakdown on the 12th, then it rallied back into the triangle and broke out to the upside on the 17th so I took a 150 point loss and reversed long last night near highs of the day with stops beneath Monday’s low. That got stopped out for -200 points this morning. Turns out the triangle was probably just a coincidental pattern within the large trading range.
Finally today, I got the early FOMC results before almost anyone else managing to get long £7 at 17,350 running a 20 point stop.
Before I knew it we were knocking on 17,500 and on paper I’d pretty much recovered all recent losses and showing an overall profit so I closed £4 of it and left the remaining £3 running.
When I came back at 20:50 the move was almost entirely undone and the trade was just rallying from Break-even. Foolishly I saw it as an opportunity to reinstate the £4 I closed earlier. Then the market tanked 90 points on the closing bell.
So somehow I ended the day pretty much where I started! So much opportunity and I walked away with pennies.