Foster Wheeler Ltd. (FWLT)
My qi really didn’t help me any today. It was another unlucky day. FWLT wasn’t a great setup so I probably shouldn’t have shorted it anyway, but man did I get screwed:
I went short at $39.96 with a stop at $40.11. That’s a risk of 15 cents. When FWLT climbed above $40, I covered half (thank God) at $40.05. Minutes later my market buy-to-cover order was hit at $40.11, but I didn’t get filled until $40.91!! Can you believe it? FWLT has a daily average volume of about 1 million shares, and I get filled a full 2% above my market order. I was so pissed off. I complained to Cybertrader and they tried to get it fixed, but the request was declined. There was nothing I could do. I was lucky to only lose 3.37R on the trade – if I wouldn’t have sold half, I would have lost 6.3R! That is nuts, man. These are the things that I have bad dreams about.
This threw me off and I closed all of my positions and quit for the day, which sucks because I had a nice entry long on HANS.
It’s especially hard to deal with this crap after the AMR incident and after a poor showing in August. Trading is like boxing with your hands tied behind your back – you have to see how many times you can get punched in the face and stay standing. Every once in a while you can get a hand free and put in a counter-punch. I’ve just got to stay standing and take it. The most profitable thing for me to do at this point is to continue to trade my system as usual.
It does sometimes seem that everything is aligned against you and everyone is trying to block your success when a string of things happen like this. But that’s okay with me – bring it on. I don’t care if the whole world is against me, they are not going to stop me from succeeding as a trader. It is my destiny and I will never give up. I swear to God there is no way they will stop me.
