Poor entry timing on SPX March weekly Credit Spread; stopped out.
A few moments ago my OCO closing order triggered and executed to exit the position for a debit of $1.60; which resulted in the pre-set max loss for this position of -$80.
Shortly after entry earlier this morning, the market turned sharply negative. SPX was down over 20 points when my order triggered.
It's never easy to accept a loss, particularly in the same day a position is entered. However, as I've written before, it's best to take a loss that fits within the overall trade parameters before it gets out of hand.
Continuing worries over economic news from China, and the Ukraine tension heating up, may cause me to sit on the sidelines for another weekly trade entry. I will evaluate tomorrow morning and post an update; but this may be the time to take my lumps and keep cash as my position until next week.
As always, stay keen on your risk management and trade carefully.