For trading on February 8th, the daily indicators looked very bearish, as well as the intraday indicators. So that justified the decision to plan a short trade. The usual plan in such a scenario is to sell on intraday strength to get those extra points.
Let's see what happened.
During the European early trading hours, a trading signal was sent out to all investors to put on the short trade with a sell limit at 4498,00. At 10:30 AM roughly, the limit was almost hit but the price went down some 40 points. So this started to feel like a missed opportunity. But then after the Wall Street opening bell, the price went up again and easily triggered our sell limit. And within less than 2 hours, it came within 0,75 points of our fixed stop-loss and turned down. This was a very close escape. As the position turned green, the trailing stop loss went down with it and limited our downside risk significantly. Luckily so, because that took us out of trade with a loss of $731,00.
The trading plan was accurately executed, the signals were there. So even though the outcome was a loss, this type of trade should still be considered a good trade. Over time, and executed multiple times, this type of trading should give us a net profit, but just not this time.