July 5, 2023 (1 Trade) (-$37.00)
Overall Grade: D+
Day Summary: One and done today as I was trading from NY - 35min+ hold
DAILY - SPY
5 MIN - SPY
TRADES
Trade 1 - Long 2 Puts (no set up)
Grade: D+
- poor-rushed entry based on 15min channel (not my set up)
- This was also a single-factor trade, based on something I don't even trade
- covered 1 contract at breakeven (accidental click) but felt better about risk after that
- added 1 contract short at resistance (that's where a put entry should have been if you were going to play puts)
- fighting the trend ^^
- didn't stick to rules on stoploss
FIX: Don't trade a single-factor trade. Don't trade a no setup. Don't fight the trend.
Takeaways: Only trade setups with multi-factors