July 13, 2023 (3 Trades) (+$15.00)
Overall Grade:
DAILY - SPY
5 MIN - SPY
TRADES
Trade 1 - Long 2 Puts @ Resistance / Top of 5Min Channel
Grade: B-
- fighting the trend (from PM and the open) - bad
- entry at resistance - good
- multi-factor trade (5min channel kinda sketch)
- stop was close above high
- target was VWAP (would've gotta out close) but I covered instead bc Im a bitch - never would have been red on this trade and would have gotten target
FIX: Hold winners. Don't fight the trend. Trust your analysis.
Trade 2 - Long 2 Puts @ Trendbreak Retest / Resistance
Grade: B+ for set up, D+ for management
- entry at resistance - good
- multi-factor trade
- idk why i was sketched on this trade and i covered 1 contract as soon as I was green
- stopped out before I was even red - stop was a close above the trendline or HOD - whichever hit first
- target was VWAP - would have hit - thats why we hold winners
FIX: Trust Your Analysis. Hold Winners.
Trade 3 - Long 1 Put @ VP Resistance and ADD strong red
Grade: B-
- entry in the middle but VP was acting as a resistance
- multi-factor
- following the recent range direction but going against the trending direction that brought us into the range
- entry was after 4th attempt at breaking the low, more likely to break on another attempt with strong volume packed above
- held well even though I was scared of a bounce
- exit was on "trick candle" before actually sell through but I'd say exit was conservative for this trade
- I almost added on this trade 2 candles after entry but bitched out
FIX: Try not to trade ranges in the against the direction that brought us into the range (PM today since range was right at open)