Chapter 3 Trading journal #134–07/24/2019 +$29
Options note:
Was trying to express my opinion ($AMZN is a short) via selling calls. Didn’t work out, SPY was just trending/grinding. One of my theses was AMZN is holding below 5min 20 MA, but SPY never was. So If I want to trade a stock via options, I need to make sure that the setup on longer (5min timeframe is there)
In general, the second trade was not the best one since SPY was ripping up. I didn’t feel the strength of the move, and that’s why I allowed myself to get short AMZN and SNAP, but it was wrong. The right thing to do, was, first of all, accept that SPY is holding 300, above all, MAs on 5 min and making new HODs. No matter what I felt or anticipated — this was the only right observation. Had I accepted it, I would have been up above $100 at least.
Stocks:
Was pushing to with SNAP, and at some point, got to 800 shares — it didn’t work out. In general, this was not the highest probability trade, specifically because SPY and QQQ kept making new highs. Perfect time to buy breakouts.
CHMA +$79
TRNX +$40
VISL +$22
SNAP -$58
I should have stayed away from 0 and 1 trades. This was a low probability setup since the perfect to get short against was far away. This was a B stock for Me. I should not have been losing money in it. This was not my niche!
Also, in regards to 1. At some point, the level
Was reclaimed. Considering the fact that this is not my sweet spot, I Should have just gotten out. There was no need to get stopped out.
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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