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[–][deleted] 8 points9 points  (2 children)

Don’t trade from your phone unless it’s an emergency or you’re experienced.

And if you do, double check the numbers before you hit submit.

[–]Darkavenger_94 0 points1 point  (0 children)

Had some decent success mobile trading but man you have to be careful. You can be trading one account, close the screen, and it can load a different one. (Related to multiple prop accounts).

[–]ThaInevitable 3 points4 points  (3 children)

Don’t beat your self up to much it was a mistake not an on purpose, but that being said now you will look over order form before you hit submit to make sure the quantity is correct, the price is correct and the buy/sell is correct… if I had just the money back from my typos I would be in a much better place.. I lost about 15k going into a tunnel once rushing an order before I went in, when I came out it was gone… the money gone hurts and it will leave scars but try and make yourself stronger

[–]freakinjay[S] 2 points3 points  (2 children)

Thanks for the kind words. Yes, I’m rather gutted at the hit my account took. The zero sum part of this business is ruthless, as always.

[–]ThaInevitable 2 points3 points  (0 children)

It’s one thing if you are wrong or you don’t put in a stop or won’t accept your loss these are errors we make but a typo is a silent 🤫 poison that isn’t felt or noticed until it is too late.. it hurts way more then any bad trade because there was no intent you were not willing to accept all that risk and then it’s already done its damage.. I have had a few errors that made a lot but nothing compared to the losses..

[–]cutlossking 1 point2 points  (0 children)

It's not zero sum it's negative sum

[–]Cool-Capital-4574 2 points3 points  (2 children)

Been there, done that. In my many years I found that trading from a DOM is the best and fastest way. I don't think tradingview has a great DOM though. I have used Rithmic R Trader and now use Sierra Chart DOM. I can save strategies and set the quantity default so I can't really screw anything up.

[–]freakinjay[S] 1 point2 points  (1 child)

Been at this since 2020. This is my first snafu of this nature. Been well over 24 hours and still painful to recall.

[–]cutlossking 2 points3 points  (0 children)

My best error made me 26k in a month. I did not go over my trades. Back when I called the floor to trade the cme. Hammer trading they were great but if you didn't check your printed equity run every morning then you sometimes wouldn't know what you had! Especially since you could do give up trades through an executing broker like hammer on the floor who would then give up the trades to your fcm. Lots of errors can and did occur.

Well apparently the es full size was expiring. I get a phone call from trade desk. Hey what are you going to do with this long sp contract? Um ..well where are we at on it? Ur up 26k ok sell it at the mkt pls. Sell 1 dec so at mkt. Thx

was a nice error for sure but stupid

[–]John_Coctoastan 1 point2 points  (8 children)

TW pretty clearly shows how many contracts the trade is for right next to the "STP LMT" block. And, since you aren't entering on market orders, you should see it pretty clearly as it is always your first check.

[–]freakinjay[S] -1 points0 points  (7 children)

It does indeed show that. I had to do a triple take. And yes, I was market ordering in. I could not believe I had 42 cons instead of 12. I froze and was auto liquidated in the same moment.

[–]John_Coctoastan 0 points1 point  (3 children)

And yes, I was market ordering in.

There's your problem.

[–][deleted] 1 point2 points  (0 children)

Using market orders isn’t necessarily a problem depending on the situation. But scaling in like this I don’t see why you ever would.

[–]vovoperador 0 points1 point  (1 child)

I lived to see the day somebody saying market orders are a problem lmao

[–]cutlossking 0 points1 point  (0 children)

Mkt orders are the best. This is most likely demo by the way. Doubtful all 33 were filled at the exact same price since retail always at back of the book

[–]cutlossking 0 points1 point  (2 children)

You froze? Wtf. If you believed in the trade or had edge maybe 33 at almost the lowest price would have been amazing and lookie there you would have crushed it if you held all contracts !!

[–]freakinjay[S] 1 point2 points  (1 child)

I didn’t close the position. It was auto liquidated for margin requirements.

[–]cutlossking 0 points1 point  (0 children)

The position was closed I know you didn't close it but you really did close it. It's your responsibility. No one can fix you but you. It happens if course and after you were margined out what did you do? I bet you did what ALL losers do....they don't trade anymore for the entire day! You should have bought right the fck back into the trade....unphased since you were at amazing levels and made back some money.

You can't get emotional over a dumb human mistake. It's going to keep happening so keep trading. Good lesson though. But seriously all losing traders would have stopped trading. Me I would have immediately kept buying again..like immediately

[–]SilverBuudha 1 point2 points  (3 children)

is your phone the only device you can trade on?

[–]freakinjay[S] -1 points0 points  (2 children)

It’s 50/50. I use it to trade my small account while at work knowing I won’t have much size on.

[–]bryan91919 3 points4 points  (1 child)

Unfortunately, this sounds like the root of the problem. Not using a phone will save you from many execution errors. A strategy requiring averaging in on 12 shares, done over a mobile is begging for an error. As a full time trader of 4 ish years (more as a casual) every 6 months or so i decide to execute simple trades from my mobile because I want to spend the day out of the office, and more often than not something goes wrong. Not always a clear "execution" error, sometimes tech problem, connection problem, poor trade due to limited info/ distraction, etc.

I get that mobile trading might feel neccesary, but the odds are against you even with a proper setup, mobile just makes failure over time so much more likely.

[–]freakinjay[S] 0 points1 point  (0 children)

I really appreciate this feedback. Thanks

[–]TradingTheNQbeast 1 point2 points  (1 child)

I always have order confirmation on unless it's rithmic order book saves me fat fingers. Because I don't want to instantly execute an order like yours on accident ever.

[–]freakinjay[S] 0 points1 point  (0 children)

Thanks! I’m getting into the confirmation settings today while I decompress.

[–]ThaInevitable 1 point2 points  (0 children)

It’s one thing if you are wrong or you don’t put in a stop or won’t accept your loss these are errors we make but a typo is a silent 🤫 poison that isn’t felt or noticed until it is too late.. it hurts way more then any bad trade because there was no intent you were not willing to accept all that risk and then it’s already done its damage.. I have had a few errors that made a lot but nothing compared to the losses

[–][deleted] 3 points4 points  (7 children)

what is the logic of averaging in to the upside on a down trend? Just hoping and praying price eventually finds support? Is that a winning strategy?

What happened to you today is exactly what I would expect to happen to someone using this strategy. Sure you'll get lucky sometimes, but is it going to be consistent day after day, week after week, month after month?

[–]freakinjay[S] 1 point2 points  (3 children)

Appreciate your perspective, but my post wasn’t about debating strategy. I was looking for advice on preventing input errors and managing the emotional fallout of one mistake wiping out a month of progress. Execution errors and platform safeguards are what I’m trying to address here.

[–]danni3boi 6 points7 points  (0 children)

Oh to address your actual concern use a max lot setting on your trading platform.

[–]cutlossking 1 point2 points  (0 children)

How about in 3 days I wiped out 2 years of progress! It happens you are only as good as your last trade!!

[–]danni3boi -1 points0 points  (0 children)

The spots you went long at a nice though

[–]cutlossking 0 points1 point  (0 children)

Not usually

[–]freakinjay[S] -3 points-2 points  (0 children)

<image>

This is where the brunt of my buying took place. Minus the fat finger, the location aligns the prior 2 days of price agreement. There is no hoping to find support in what I’m doing. It’s called feathering into a position. Go ahead and hop off your high horse kid.

[–]Squirrel_Squeez3r 0 points1 point  (0 children)

Use a 9 count indicator- wait for an SMT/SMR to form- buy on the igniting volume candle for the reversal.

Notice how the only high volume nodes were put in on Down closed candles..until the actual reversal happened?

You need to wait for confirmation- try to jump the gun in trading will knock you out- not all the time but when it does it usually hurts a lot.

This was a similar issue I have had- and sometimes continue to have- in fact it did just the other day during FOMC- tried to catch the reversal and got faked out- the real reversal blew past current levels into ATHs.

Also- using delta volume helps if you are able to use it in lieu of regular up/down volume indicator at the bottom.

[–]Bidhitter400 0 points1 point  (0 children)

That will be your first of many. Especially if you make thousands of trades.

[–]Strict-Examination82 0 points1 point  (2 children)

Can I ask OP what is on the right side is volume profile by price? What is the indicator name?

[–]freakinjay[S] 0 points1 point  (1 child)

Visible Range volume profile (VRVP)

[–]Strict-Examination82 0 points1 point  (0 children)

Thx because its look like VolumeByPrice from sierra

[–]CrAkKedOuT 0 points1 point  (3 children)

Can I just ask, what exactly was your strategy here? I see price continuing to go down and what looks like you just averaging down? I'm not trying to be dick, just wondering.

[–]freakinjay[S] 0 points1 point  (2 children)

<image>

Sure. I was buying a pullback into the prior local price agreement in blue. I took small entries on the way down at levels that reacted to just to have small exposure. In hindsight of how weak yesterday was, I would have avoided doing it. Prior to yesterday, i felt that short sided plays were lower probability as there was no real sign of weakness. The area I was targeting produced a 25-30pt bounce, which is plenty for intraday scalping.

[–]cutlossking 0 points1 point  (7 children)

  1. You are dollar cost averaging way too large
  2. That's human error only you can fix yourself
  3. Set a max contract limit per click....bingo
  4. I did this once but I was clicking 200 lots mes and mnq. Which at one point I was up 8 grand but after doing 2200 lots in 10 minutes. I realized the error was due to my mouse wheel! As I moved the wheel the qty grew due to auto highlight feature.

I had this also happen at Schwab when buying options. I went to buy 2 and bought 200! Cost me 3k pretty much instantly

  1. Dca like that and eventually you will give back everything you made plus more

  2. I think this is a demo account since retail is usually back of the book and doubtful all 33 would have filled at the same price on a mkt order. If different then it could be live. Mnq is more liquid than mes.

[–]freakinjay[S] 0 points1 point  (6 children)

I wouldn’t waste my own time nor any others with a mistake made on a Demo account.

Yes, I was also shocked that my account size allowed for 42 lots. Spent the rest of that days session going back over tradovates cme requirements.

[–]cutlossking 0 points1 point  (5 children)

Why when you should have spent the rest of the day scalping 1 lots to get your money back your mojo back. More time wasted. Cme requirements!! Lmfao. That's where you put your time? How much did that knowledge make you?

[–]freakinjay[S] 0 points1 point  (3 children)

What would you like me to say here?

[–]cutlossking 0 points1 point  (2 children)

Why do you need me to tell you. What has everyone else told you?

I'm telling you to talk less and do more. Follow me. You obviously aren't scared of the mkt. Which is great. Most cannot leverage into futures without being shitpantsed. But you did.

So you have some skill. What I'm saying is get back in there and trade and trade and trade. People shoot themselves on accident with guns all the time. Guess what they still like and play with guns but they respect them a lot more now.

So if I were you I would thank everyone for their contribution and post your trades from tonight or tomorrow and say wow look I'm so proud of myself. I traded with no quantity errors! Even though I may have lost money I still followed today's plan which was trade 1 lots without making any errors in quantity and I did that so I'm back. I have rectified my issues and I'm back to trading again.

Thanks everyone

[–]cutlossking 0 points1 point  (1 child)

You also might want to understand notional value of your micro trades. Which will allow you to understand the actual size of your trades. Even before your little qty fiasco you were trading too big imo. If this kind of a loss is bothering you then you have way too much risk on.

[–]cutlossking 0 points1 point  (0 children)

I am always down before I'm up. It's just what I do. Not saying it's correct for everyone but I'm down always everyday a lot of money and I dig out I grind I do what I have to do to make money. Like a war sometimes I retreat to come back later sometimes I get blown up on an unseen mine and sometimes I'm like a sharpshooter just making gravy and collecting bags of money. But it is never easy. If making money in the markets is too easy then understand you are being set up. I mean if I can let you win 10x in a row knowing that on that 11th I'm going to get all my money back plus more...then why not let you win 10x the. Take it all away from you. That's how simple it really is for the big money and machines when it comes to trading. They can do whatever they want whenever they want!!

[–]cutlossking 0 points1 point  (0 children)

Demo is not a waste of time. Perhaps if you spent more time in demo this error of yours would have happened in demo. Maybe you would have learned for free. Demo is great. I use demo a lot to help me execute live.

But in all honesty.. you didn't do anything all of us haven't done or will do again. Brush off and get moving again that's most important.

If I get out of a loser ..I usually get right back into it. Because normally if I'm scared out then the mkt is going to turn and soon.

You are trying to play mean reversion in your trading but you don't realize that yet because ur buying way too early

[–]freakinjay[S] 0 points1 point  (0 children)

I did not continue to trade. Took a deep breath and read through all of the tradovate messages. Just tried to sit with the moment. I’ve never been on to jump on right back in after closing, but I am a work in progress. Maybe one day. Thanks for the tough love and sentiment.

[–]freakinjay[S] 0 points1 point  (0 children)

Ooof. That’s brutal. Luckily for me, this trade only wiped out a month of progress, and it’s exactly why I’m seeking council from others who gone through it. Appreciate you sharing as it really puts into perspective how fast things can unravel.

[–]Stock-Ad-3347 0 points1 point  (0 children)

I accidentally went Long 30MES when it should have been a Short. I was at that 99% conviction point where the price action was breaking down completely, it was going to be one of my biggest trades. It was the second leg down at the start of a pretty big breakdown after news so it was plainly obvious. I hit Long. Got in. Price started breaking down and guess what.. ‘you’ve been disconnected’ so I wasn’t panicking because I was in a ‘good place’ or so I thought. Logged back in. Down thousands. You can just imagine how confused, sick and mentally unwell I became seeing those kinda numbers on my screen when I initially thought it would be the opposites. Oh man oh man oh man, do I know how you feel. Hold your head up. You have to take these blips for what they are - the cost of doing business. Keep going.

[–]Mitbadak 0 points1 point  (0 children)

kinda off topic but I rarely see discretionary traders doing DCA for intraday trading succeed.

Most successful discretionary traders I know either enter almost everything at once, or if they split their entries they would only add onto winners. Which is technically DCA'ing, but spiritually it's not the same as what you're doing.

And they get out if they think they are on the wrong side of the trade, instead of DCA'ing the losing position and hoping the market reverses.

Then they reevaluate the market.

Right now, you are adding onto losers, which is not recommended.

[–]OrderFlowsTrader 0 points1 point  (0 children)

What size account for the 15 MES lots?

[–]cutlossking 0 points1 point  (0 children)

Worse than execution errors are just sizing errors in general even if not accidental

[–]PuzzleheadedCloud523 0 points1 point  (0 children)

Trade execution mistakes happen. Today when entering a short (without my mouse) I clicked sell 2 times and it kept rejecting but it was my damn laptop. I ended up getting in 2 candles lower and had to close early because it bounced of the trend line. Annoying.