I’ve been holding this crude oil short for two months.
I entered in September at just over 90, then added once when the price went up. My average entry is 94.5. It’s at 101 now, and I’m down 745 on paper.
There were two chances to get out. In late September, it surged to 108 and I was down more than 1,400. I held on. In early October, it fell to 82 and I was up 1,378. My account was 22% above my starting balance. I held on then, too.
The second time cost me the most. It wasn’t money I lost—it was money I didn’t take back.
The irony is, back in March, when the U.S. and Iran had just started fighting, I shorted crude oil too. I entered at 106. Then I decided the $2 daily funding fee was too expensive and closed early, making a tiny profit. If I’d held until it got close to 67, I would’ve made more than 4,000.
Now I’m paying the same funding fee every day, and I’m willing to sit through a 5,000 loss.
Same cost, opposite decisions. It shows that the funding fee was never the real reason—it was just an excuse for when I “wanted to get out.”
The same goes for adding to the position. I raised my average entry from 90 to 94.5. It looked clever, but really, I moved my liquidation price from 182 to 140. I doubled my position, doubled my risk, and made the numbers on paper look a little better.
It’s not that I can’t hold a position. I just can’t hold on to profits, and I can’t let go of losses.
The position is still open, and I still haven’t figured out what to do with it. I’m writing this down for now.
I entered in September at just over 90, then added once when the price went up. My average entry is 94.5. It’s at 101 now, and I’m down 745 on paper.
There were two chances to get out. In late September, it surged to 108 and I was down more than 1,400. I held on. In early October, it fell to 82 and I was up 1,378. My account was 22% above my starting balance. I held on then, too.
The second time cost me the most. It wasn’t money I lost—it was money I didn’t take back.
The irony is, back in March, when the U.S. and Iran had just started fighting, I shorted crude oil too. I entered at 106. Then I decided the $2 daily funding fee was too expensive and closed early, making a tiny profit. If I’d held until it got close to 67, I would’ve made more than 4,000.
Now I’m paying the same funding fee every day, and I’m willing to sit through a 5,000 loss.
Same cost, opposite decisions. It shows that the funding fee was never the real reason—it was just an excuse for when I “wanted to get out.”
The same goes for adding to the position. I raised my average entry from 90 to 94.5. It looked clever, but really, I moved my liquidation price from 182 to 140. I doubled my position, doubled my risk, and made the numbers on paper look a little better.
It’s not that I can’t hold a position. I just can’t hold on to profits, and I can’t let go of losses.
The position is still open, and I still haven’t figured out what to do with it. I’m writing this down for now.