October 17th, 2022
1yr:1d
1d:2m $SPY Trend Continuation Trade
-Higher highs and higher lows create a trend continuation trade. Went long expecting the breakout of the previous high which happened but I didnt sell fast enough and ended up losing the maximum on this trade ($20)
- I should have sold at the break of the high and I should have moved my stop up when I was in the money.
-Besides these 2 things this trade was not too awful.
1d:2m Technical Analysis
What was the Easy Money:
-Opening drive breakout trade. This is still not easy but in terms of the ugly price action today there is really no other option but this.
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-Again this is still a very difficult trade to take but this is the Trend "reversal" break zone. Not really sure how I couldve taken this trade and not got shaken around.
Takeaways:
When the market is up 1.5% or more it will probably be a very hard day to trade. In these scenarios the best thing to do is nothing at all. Keep your fucking money.