June 13, 2023 (5 trades) (-$11.00)

Overall Grade: C

Day Summary: Today was CPI, but nowadays the CPI reports have very minimal effect on the market. Tomorrow we have PPI in the morning, followed up by a Fed rate hike decision at 2pm.  There were some decent plays today but unfortunately I traded myself out of the game early on as usual. I seem to always go red early and then scalp my way back to small red or even profits, so if I can be more strict with my first trade of the day, that could help me stay more consistantly green.  I also tend to hesitate or cut winners early when I am trading from the red so it is just that much more important to get green from the jump.


5 Min - SPY


Trade 1 - Long 2 Puts @ CPI Data Candle High (purple)

Grade: D-

  • This trade was really bad - I put too much enphasis on the CPI data candle as a technical and traded this with a bias - neglecting the good CPI news and the fact that we were uptrending
  • So again ... fighting the mf trend - I deserved this loss
  • I bought Puts into support - not smart
  • This trade was rushed out of the gates. I need to be especially patient on the first trade of the day
  • I was also going short when ADD was rocketing out of the gates (see below)

FIX: Don't trade a bias. Don't trade a "one factor trade". Don't fight the trend. Don't rush into a trade at the open


Trade 2 - Long 2 Puts @ CPI Data Candle High/VWAP (Continuation)

Grade: C

  • This was at least not a "one-factor trade" - VWAP + CPI Data Candle High + Top of Downtrend Channel
  • Going with the trend which is much better
  • Entry on a push up - good
  • Entry at key level - good
  • stop was a candle closure above the levels/outside of trendline
  • This is not a bad trade here, and it did bounce so I would have lost, but I didn't stick around to find out - sold early bc of being red from Trade 1 - TRADE YOUR PLAN
  • One bad thing about this trade is that the 435.5 level had proven quite strong multiple times already on the day

FIX: Trade Your Plan


Trade 3 - Long 1 Call @ Hold of CPI Data Candle High

Grade: C+

  • This actually became a great trade (see below on Trade 4), but my execution was poor - sold for breakeven even though my planned stop was a candle closure below VWAP
  • I need to accept the risk before entering the trade and not just get out emmotionally because it's not working out immediately
  • Bought Calls at support - good
  • Followed the trend (even though today was a range - micro has been bullish on the HTFs)



Trade 4 - Long 2 Contracts @ Pullback to PM High

Grade: B-

  • You could call this risky, but momentum was to the upside and micro has been bullish on HTFs so I decided to get aggressive and long a pullback to a key level
  • I did cut this trade early because it was outside of my playbook/setups - but it shows the importance of getting aggressive in the direction of the trend when we see momentum
  • I also should have held this trade because I had a good entry and we emded up breaking HOD at 437.2-ish - GO WITH MOMENTUM AND THE TREND !!
  • Don't just emmotionally sell when you have a good entry and a tight definded stop, even if it's not in my playbook

FIX: Make a Playbook for this type of trade and I won't act as emmotionally


Trade 5 - Long 2 Puts (Trendbreak Retest Rollover)

Grade: B-

  • This is a strange trade because I don't have a defined set up for it per say, but I was confident that this sell off was going to continue lower
  • If I bought puts into resistance I could have had a better entry on this trade, but I also could have potentially missed it
  • Stop was candle close above 437
  • I sold 1 of my 2 contracts early like a bitch, as that would have put me back to green on the day
  • I like that I'm getting a bit more aggressive early in the trends

FIX: Make a playbook set up for this trade (Rrendbreak Retest Rollover). Hold full position size when the trade is going in your favor