Watch Your Open Orders!
March 31, 2008
In my ongoing quest to educate traders and help them along the path of trading development, I will share with you some further advice today, based on my own personal experience. This isn’t one I’m proud of, mind you. In the cause of trading education, though, I’m willing to share my embarassment.
You see, I’ve started using a new trading platform for my futures trading. The other day I was doing some trading and had a few different orders in the system. I eventually cancelled my orders, but apparently forgot one.
I think you see where this is going. 
Yup. The order got filled, much to my surprise. It ended up costing me 7 points. To say that I was angry with myself would be a grand understatement. In the final analysis, that one stupid error cut my gains for the week more than in half.
Please, please learn from my mistakes. Always know what orders you have working and the positions you have on. It really could save you a lot of money.
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