June 22, 2023 (4 Trades) (-$42.00)

Overall Grade: C+

Day Summary: I didn't trade horribly today but I still ended up red. It just felt like I miss timed everything today. I made some mistakes and missed some opportunities, but i feel like I am seeing the trades to take, just not executing on them.





Trade 1 - Long 2 Puts @ Trendline + key Level

Grade: C+

  • I don't usually trade the open but I did today and got smacked by a rouge candle (normal at the open)
  • stop was a candle close above the trendline but this flashed up in a second and I just stopped out to manage the damage incase it continued ripping through highs
  • good entry for a break and retest of key level/trendline with a target of yesterdays low (red dashed)
  • also good that i was holding the winner to target and i just happened to get spiked - that won't always happen and I need to continue holding winners
  • bad thing was I did buy puts into support as this was a range

FIX:  Buy puts into resistance and calls into support


**Missed Trade** (see below)

  • Man when i tell you I almost bought calls on the dip (grey circle)
  • To take this you need to trust the trend, but i had a feeling shorts were getting too excited and I could use their stops as fuel for a move long
  • I need to start asking myself "where are retail traders likely positioned, and use those stops as a catalyst for a move in the oppositen direction"
  • This would have been a huge trade, and this move continued higher

FIX: Grow some balls and take the trade - even a stop under the previous breakout candle is almost 1:1R if you hold to previous HOD


Trade 2 - Long 2 Calls

Grade: B-

  • Buying calls in an uptrend - good - GO WITH THE TREND
  • entry wasn't perfect - once the previous candle closed red I could have looked for a better pullback before entering
  • This was a decent scalp but the R was not there
  • stop was a candle close below the big green candle after the wedge break - good job sticking to plan
  • CPI High (dashed pruple) was a good target especially since the trend was slowing

FIX: Be patient on those entries


Trade 3 - Long 2 Calls

Grade: B

  • This was the trade of the day, this is the one that hurt
  • Good job buying calls on a pullback early after the strong bounce
  • Good job using key level (yesterdays low) to base an entry off
  • stop was a candle close below yesterdays low and we never closed fully through it (possibly a couple of cents) but I shouldn't have stopped this trade - i gave it no room to breathe
  • This stop was at the very low of the move and we had a big push that woulda made me $100+ (coulda, woulda, shoulda)
  • good job buying calls into support, but could have been slightly more patient



Trade 4 - Long 2 Puts @ Trendbreak + Retest of key level

Grade: B-

  • I gave this trade a B- because I at least took a 2-factor trade
  • I was fighting the recent trend though (arguable daily trend - 5min)
  • I was green for most of this trade, my mistake was not stopping out breakeven once the last attempt to sell off wicked and turned green
  • Although this wasn't the best trade, the entry was decent and there was a clear stop

FIX: Don't Fight The Trend