Held out for a loss – Daytrading the S&P
I figured that there is no point in grabbing small profits and also no point in getting out of a trade unless conditions change... I read that somewhere from a top trader in a book. Anyway, I think my short was not a bad entry at 139325. The 1 min stochastics had eased off and the 5 min stochastics was indicating a sell. The 15 minute stochastics looked like it was turning. The market did start to move south and hit a low of about 139175 before moving upwards and gradually taking out my stop
