Market swooned against the open SPX Weekly Credit Spread; position stopped out.
The OCO for this weekâ€™s position triggered at approximately 3:00 pm Eastern. SPX was trading at 1822.07 at the time the closing order for our pre-set max loss triggered for a debit of 1.50. This represented a loss of $-75 on the open position, or 8% of the total margin/risk.
It's never easy to accept a loss. However, as Iâ€™ve written numerous times before, I have found that the best, long-term success is best achieved by trading with the guidelines set forth at the trade onset. Itâ€™s never easy to accept a loss, but better a loss within reason than to risk an even larger negative turn of events.
The next trade entry is planned for this Thursday, January 16.
As always, stay keen on your risk management and trade carefully,