November 15, 2022 - (4 Trades) (+$122.00)

Grade: A-

Day Summary: Today was such shitty price action (typical as of recent) and a data day as we had bullish PPI released this morning. Market makers were feasting today, consolidating the price action, eating stops, and faking out directions. As we all know, FUCK MARKET MAKERS!! But we do need them to trade soooooo, yeaa lol. This was a very difficult day but I had some good trades and held much better than I normally do, because my recent focus is to hold my winners.

1YR:1D - SPY

1D:5M - 1D:1M - SPY


Trade #1 - Long 3 Calls looking for Breakout (Breakout Trade)

Grade: B-

  • I typically don't buy breakouts, but I'm ok with this trade. It looked like it was holding the downtrend from PM, and when I saw the candle turn green, I bought the ask, was green initially but once I saw it not working, I did a good job at getting out quickly on a market order, which was a good idea because I might have gotten some slippage, but if a breakout fails you need to be out quick and thats what I did. Only lost $20 on this trade

FIX: 5min wicks were showing this was not a zone to buy a breakout



Trade #2 - Long 3 Calls @ Uptrend Reclaim

Grade: B+

  • This was a good trade. You could call this sketchy but I like to trade reclaims of uptrends, bottoms, etc.
  • Also got in on the ask on this trade because I figured it would move quick and it did. The candle I entered on was red for about 2 seconds, and thats why I bought the ask
  • I held this trade well, but scaled out starting at VWAP, even when my target was the previous high
  • This 1 trade was 4x my first loser because I held a winner! I need to focus on this going forward

FIX: Hold to target with full size


Trade #3 - Long 4 Calls @ Trendbreak after Consolidation Fake Flush (3 Calls followed by adding 1 Call)

Grade: A-

  • This was my best trade of the day but Market Makers fucked me
  • After the morning consolidation, we had a big flush down and I figured that market makers would be looking to flip this in the face of the traders that were feeling FOMO looking to short the continuation short, especially at the psycological 400 level
  • I did a good job waiting for the trendbreak to avoid catching a falling knife (very possible if I was wrong from the above statement) but I still entered a little bit too early on this trade because of FOMO. Where I added my 1 contract should have been my entry
  • I held this trade well and wanted a push through VWAP but thankfull took off 2 contracts while it was moving up and was looking to hold the rest but then market makers decided to fake flush this again which scared me out of my last 2 contrcats. Fucking bullshit but thats how it is

FIX: Hold to my origianl risk which was just below the demand box we were in, but the safe move was to get out because they could have flushed this a lot more very quickly


Trade #4 - Long 3 Calls - Reclaim of the fake flush that stopped me out on Trade #3 on top of demand zone

Grade: B

  • This was a bit of a FOMO entry because I was more confident this was going to go long after the fake flushed that just had stopped me out on Trade #3 1 minute earlier
  • However, I thought this trade was going to keep moving up quicker and ended up getting stuck in a sideways/down moving consolidation with a decaying option. This made this trade hard to hold but at a certain point I said "Fuck it, I will risk my days profits (similar to Colby) and decided I would stop at the same spot my original stop was on Trade #3 at the break of the demand zone
  • This trade was much harder to hold though because my entry was higher than Trade #3
  • I stuck to my plan and this trade worked out, and I was able to scale out into VWAP, my original target of Trade #3

Takeaways: Fuck Market Makers. When you see them chopping around feasting on retail traders stops, consoldiating, faking out price. Always look for them to flip it in the face of the traders betting it will go in the direction it looks like it should go. However, wait for a confirmation single or you might catch a sharp, falling knife (trendbreak, double bottom, etc)

Easy Money:  Wasn't really any easy money today until they afternoon sell off, but I was far from my computer at that point, and the price action in general was garbage today