November 14th, 2022
-This is disgusting price action and im pretty happy I only lost 9 dollars. Although, I did have quite a few missed opportunities. This is also a day before PPI which is one of the big 3 data days. CPI PPI and FOMC all are massive days where the data effects the market a lot and usually the day before that data, the market chops around a lot. This means big money is pumping orders into the market to basically frontrun the data.
1d:2m 1st Trade: Put Option Trend Reversal
- eh this is just stupid again because i really am starting to hate trend reversals. They are especially difficult to do when the market is rallying upwards. I think that if I started to only go for LONG trend reversals instead of just doing short, then id be much more profitable on this strategy. That is really the most important part of trend reversals. What is the direction of the 5-10 day trend? If its up then look for long trend reversals. If its down, go for short trend reversals. I shouldve noticed this earlier but I guess its still an improvement because a long time ago I probably woudlve taken this trade 20 times in one single day. This time I lost only 9 dollars and just left.
-its seeming more and more common that there are really zero easy money opportunities anymore. I think this is just common once we start rallying in the backside of a massive macro bear market. Trending higher in macro bear is definitely the most difficult time to be a daytrader of large caps. Its hard to go long because conviction is extremely small, its hard to go short because shorts are getting squeezed until they get exhausted and then a massive supply zone gets hit and its drops so god damn fast that nobody can catch it. Its just super hard. Backsides happen too fast and are baited too often. Longs are grindy and difficult with any instrument but ESPECIALLY with options because theta eats you alive. Its just very difficult time to be a trader. I guess you could call this the "easy money" of the day because we have this weird uptrend that was grinding green and we tapped 400 and immediately dropped then started to trend lower very fast. Again it wouldve been so hard to have conviction after the grinding green moves that have been happening for the last month but for this day this was the best trade.