June 14, 2023 (5 Trades) (-$59.00)

Overall Grade: C-

Day Summary: Today was FOMC day but we still saw some good opportunities to make money in the 930-11 session. Unfortunately, I executed poorly and took 1 bad trade to get red again.




Trade 1 - Long 2 Puts @ Key Level Resistance (Countertrend)

Grade: D

  • Fighting the trend
  • ADD had sold off pretty heavy into this trade but was bouncing at the time I took the trade
  • I should have entered at the HOD instead of slightly before - entry patience
  • stop was a candle close above HOD which I stuck to



Trade 2 - Long 2 Calls @ Support of Key Level (Continuation)

Grade: B

  • I am not unhappy with this trade, I am unhappy with how I managed the trade
  • I was going with the trend of the day - good
  • Bought calls on a pullback to a proven support level - good
  • stop was a close below uptrend, target was HOD so R was good
  • I simply sold my calls outof emmotion - if I had stuck to my plan I would have had an easy 3:1R
  • There was no reason to close this trade - simply emotion

FIX: Stick to your plan. Hold your winners. Don't close trades out of emotion. Stop or Target


Trade 3 - Long 2 Puts @ PM High (Countertrend)

Grade: D

  • Fighting the trend
  • Bought Puts at previous support even though we had just broken through it - basically the same as buying at support
  • Good thing I stopped this because it went much higher, quickly




Trade 4 - Long 1 Call 

Grade: C

  • Risky but had stop at a close below the low
  • If I had stuck with this plan ^^ this trade ended up working well all the way back to VWAP
  • Not too upset bc I don't want to stick around during FOMC trades
  • Reason i took this trade is because of the lows from yesterday's session (green wick you can see on the 15min chart) and just below that was the CPI data candle low

FIX: Don't Trade FOMC lol - but nahh stick to the plan


Trade 5 - Long 1 Put @ key level/recent resistance

Grade: C

  • Not a bad idea and I closed where I planned - candle closure above trendline and yesterdays high
  • Unfortunately I did stop the top on this trade
  • Not a bad R on this trade as target was CPI data candle high (purple) or lower



TAKEAWAYS: As usual I need to hold my winning trades and stick to my plan (Trade 2). Stop taking off winners to "lock in profit" because it is just trading out of emotion. Also as usual, don't fight the trend