Chapter 3 Trading journal #130–07/18/2019 -$12

• Made an execution error on options hence there is a loss. I will update my default price to “bid” to ensure that this will never happen again.
• on Thursday, Friday — if selling IV — the setup should be fucking juicy, somehow it got to be a high of the day — if there is no high or too late — there is no setup
• Look to buy cheap calls/ options on Thursday if you expect a move ( ideally volatile environment) can go up big time.
• In general, I feel Sell IV can be Monday, Tuesday, little bit Wednesday setups.
• There are 2 ways to be out of the money. if the underlying goes against you, markets follow, or IV increases — this is not a good time to scale in on the losing side.
• Sometimes we are just placing positions too early. But IV keeps spiking and spiking up, while markets and underlying are not doing anything crazy. This is a moment where I want to scale in. This is the only way to get the best prices.
• The best setup after the open is when IV keeps going higher and higher, and options just get more and more expensive — there is a moment where it starts to reverse, and at this moment, there are seconds to hit the bid, or it will be too late, and the price drops big time.

Bids and offers are not a setup. This is the second time I’m making this mistake this week. Have to stop it. I can not be trading like this.

Change the option chain to always bid!

I need to review all my notes for the past 2 weeks in regard to the options.

Made the mistake of not taking a profit. No matter whether I have to fill the size or not. I have to take profit.

SFET Tried long premarket 1.5M float, was already 800 k volume done

GHSI — very, very stupid mistake I made here. I shall not forget about my main rule — do not place stupid trades. This was one. Not in play, no volume, no setups. Bid and offers were the only setup there.

Very very, very stupid thing. There was no setup. only offers. Why the fuck was I in?

At this level, this is completely unacceptable.

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.

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