True story: I wake up half an hour before the market in the US closes, a bit bleary eyed bc I found the sleeping pills and took three, fire up the system and see SPX is back at 1240 on the back of some Euro deal. So I put on a quick SPX short (half of the usual), but being punch drunk i sell Aussie200 instead of SPX which is just shy of times 4 the cost of what I though I was doing. So then SPX pops up to 1242 and the balance of the account goes down 4 times what I would expect and then i realise what I've done. I'm dazed and confused and thinking how to deal with this, bail, hedge, sit, damn what have i done. I sell Aussie at 4246.2 and the spread is 4 points already and now to cover I'm 10 point down. "Chris you fool"...sitting there punch drunk from the sleepers...sitting like an idiot and now to cover its 4260 something as SPX as up to 1245 and change. "There goes a good slice of your weeks profits you mug". I'm about to wear it and SPX gets slammed down 3 points like that and I'm back to a 10 point loss to cover...SPX keeps getting hit then it ends up 1 point loss to cover so I move but not quick enough, and by the time I've hit the button the offer is 4250.2 which I accept and wear a 4 point loss on a very large Aussie200 parcel. Thhe loss was a bit less than a 1/4 of what I was down at the worst point. Bad, very bad! Very very bad!!
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