Chapter 3 Trading journal #142–08/06/2019 +$112 (Broke rule with $TTOO, and options)


Main notes:

  • 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.

AMD +$75

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

TTOO +$64

#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

NPTN -$32

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.

Read from the beginning: Chapter 0. What it takes to be a seven-figure trader, and how it all started.

or read my latest post: Beginners guide to trading mistakes. Common day trading mistakes with 50+ charts and examples.

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