July 17, 2023 (1 Trade) (-$8.00)

Overall Grade: 

Day Summary: I am glad I stopped trading when I did today. I forced a trade early on, lost and then just saw the price action was ugly and i Knew I didn't have an edge so i just walked. That is an important skill I need to remember to do when I don't feel confident with the chart.





Trade 1 - Long 2 Puts @ (no setup)

Grade: D+

  • Yeaa, that's me buying puts into support - bad
  • Shorting when ADD was rocket shipping - bad
  • trading a bias - bad
  • fighting the trend - bad
  • I did buy puts at a key level but there's not enough resistance there - look left + key level
  • the only thing I did right on this trade was cutting my loss as soon as I could on the next red candle and stopping trading for the day

FIX: Don't trade opposite of ADD. Puts at resistance. Trade in the direction of most recent intraday trend (bullish PM)