Yes, agreed–that trade was a real bummer.
The problem seems to me that a stop loss of ~6% in these markets is too big. The awareness of the Market Index and general market direction should lead it to setting tighter stop loss bands. We are reviewing this to understand why it kept that level loose.
That said, looking at the charts, it seems as though it was positioning for a bounce off of the $7K level, with the loss below it in case the bounce didn’t happen. In this scenario though, it opened the trade a bit too early in my opinion.
So there is plenty to dissect on this particular trade and see how we can avoid a similar situation in the future.