Chapter 3 Trading journal #126–07/12/2019 -$496 (-16R)

Described everything in regards to today’s performance in the separate Evernote journal. (Sorry guys, I have no idea where it is, more likely options fucked me with some unexpected vol both ways) The situation I was in was totally avoidable. While I was in, I was calm and emotionless, but I had to take these losses from the risk management perspective. From now on, I know that the best gamma for me is around 0.05 I won’t make the same mistake again.

Finishing the week -$22 gross.

The biggest takeaway for me from this week is having the right mindset every day.

• Be relentless against mistakes in trading stocks and options. Frustration and unwillingness to make mistakes again and again, is a very important part that allows me to wait patiently for the best setups in stocks and options. At this point, I know precisely my setups, and I have to keep working on executing them flawlessly.
• The conversation I had with HFT: — the morning setup — “DROP in the first 2 minutes” does not work anymore as it used to, even If I decide to trade them — There is no point for me in waiting till the offer is taken out. The approach here should be almost as with when I short bottom of the range it either works in my favor right away, or I’m getting out right away.
• On the weekend, I will go over the last 2 months of Amazon Mondays to see how IV dynamics were changing the first 5–95 minutes of the open
• Also interested to see if there are any correlations with RSI (going up /down ) hourly with open IV
• On Monday will be interested in trading 2 contracts core ( with a premium that may be been below $1.

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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