Trader put a stop at entry level for the CAD, the order was filled with a slippage of 6 ticks when the Fed announced the QE3. He called to ask why the order was filled so far away. I told him he was lucky the ordered was filled only 6 ticks away as most of the professional orders would have been pulled out just seconds before any news announcement. I told him that he should put the stop at least for 5 ticks profit to cover slippage and comm. A lesson learnt.
From his trade, I can feel he is conservative, no hurry to get into any position and doing small trades, one at a time for the moment. I am comfortable, no pressure on his side to perform and time for him to get use to futures trading.
So, I was wrong on the market, I managed to take small profits on the S&P and the GBP before the market rally and cut loss in Simsci, damn it, from a long postion to turning short.
But I was caught on the Euros and the Yen, didn't respect the market, deserved to be punished. But lucky it was just a very small position. I am now paying to learn, and should heed my trader's advice, "DIE DIE must put stop, no matter how far away", so I must act on what I teach and preach.