It was an even bigger sell off day than yesterday. It's like a small black Friday as a thought crossed my mind when I was writing my daily report last night. But I didn't expect it would go down 38+ points including overnight. ES lost 63 points, 3.4% in last two days. It's an usual out-liar.
I had a very busy day dealing with my two "scalps" turning in to losses. I was hesitated to take small losses for my 1800 and 1795. Although I managed to reduce my loss to $400 I wasn't act decisively around noon time when I realized the market couldn't pick itself up. It was only less than $200 in red. Luckily I didn't hold and hope like I used to be. ES closed at 1780 and it would have been a disaster if I didn't scale out in the early afternoon.
The real cost of losing may come next week as I had positions entered way before the drop occurred. VIX upped 30% today and I went into it in next two levels up. They are all under water now. I may have to take next week's 1765,1760 stops as they are only one day's range away. They seemed so far out only two days ago. Get to accept that I run into unusual market conditions which happens several times a year. Just make sure not let the loss get to big. I can easily recover from a modest loss.
Keep Calm and Carry On.
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