August 1, 2023 (2 Trades) (+$7.00)

Overall Grade:




Trade 1 - Long 2 Calls @ VWAP / PM Line for Bullflag Breakout

Grade: B+

  • call entry at support - good
  • multi-factor trade - good
  • following recent intraday trend - good
  • fighting PM trend (strong trend) - bad
  • stop was candle close below VWAP (did not follow) - target was top PM line
  • this should have been a trdae that worked out quickly, and when it didn't, I started to get nervous - took off 1 contract for small profit, 2nd stop at breakeven
  • ^^ overall happy with this management bc it should have worked quick
  • this did end up working out

FIX: I'm not actually sure what I would say to fix with this trade


Trade 2 - Long 1 Call @ Opening Price Support

Grade: C+

  • overall this trade was a late morning trade in chop - bad
  • fighting intraday trend - bad
  • decent entry - calls at support/uptrend
  • calls at opening support 456.06 (5min)
  • Was watching Level 2 for 456.06 and saw some big orders holding so i wanted to test a long with 1 contract
  • stop was a close below green candle that closed at yesterdays LOD
  • tried to get out at PM Line - no fill - stop at breakeven after that which hit
  • thesis of this trade was that we had trouble going lower all day - not a good thesis

FIX: Don't trade mid-day chop