Chapter 3 Trading journal #142–08/06/2019 +$112 (Broke rule with $TTOO, and options)
- Into the close, my mentality should have been, “let me lock in gains.” I was up $160. At this moment, my bottom line should be my only concern.
- Options skew is the number 1 check before selling anything. If something is 2x priced in, think about what will happen if IV expands. When the prices are inflated so much, look for going long.
- Broke my rules with $TTOO. Short on the way up. Tomorrow my goal should be no broken rules.
- Take it easy and relax. I get so mentally connected to the market crush idea that bought puts 3 times, lost $50 on this transaction, and never sold it.
- With all my trade ideas, I have to pay more attention to the volume
- Broken rule with the options: sold puts on the way up. As said many times, trade location with overpriced options (2x) is extremely important
- I have to make sure that every trade I’m in has my full concentration till the close ( AMD mistake into the close)
- When money comes easy. Make sure to save them and hard about it.
Did well that I got out of the options when the important level was broken.
I got a good experience of going long options. Was ok to manage $1.50 price. Was in and out, and next time I need to avoid it because SPY was faking out. at this 285 level. I’d better hold and get out when my R hit. That’s the right way to do it.
Gave back 50% I made on the name due to the poor, poor decisions. Into the close.
#1 Into the close my mentality should have been let me lock in gains. I was up $160. At this moment, my bottom line should be my only concern.
#2 was long into the break up of the red to green level — but it didn’t even test 29. It was not able to hold this level. It was holding below this level. I should have been out of stock when this was happening.
No volume on the top it was all just distribution + it was not reacting to the market making new highs
#1 Justified, but not the best idea. Should have gotten out earlier on the first signs of the volume
#2 Not a good trade at all. $1 was not a level here — and there were no reasons to think it would be a level. Broken rule here
#3 The same here. Shorting frontside. Too early.
ON No edge = Avoid
ok, with the trade. Had a trading decision here to make. Either get out at 1 or 2
Thinking with this trade. Good earnings, Strong in general, above MATA and VWAP. After it reclaimed level 1, I should have started looking for the first spikes of volume to get out right away. Or go long.
The chapter associated with these trading journals is still in production.
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