Daily Report Card:
-morning prep: 7/10; was prepared for the stock but wasn't fully prepared for the market / trading day)
-distractions/distracted: 5/10
Rationale:
-gapping up +7% on positive earnings announcement
How much risk should/did I take? $2,580; 18% of NLV & risking a 0.50-1 on the underlying at time of entry (risk a bit high based on % NLV, but in line based on risk units)
Recap:
-entered in more size than I intended to, so I quickly took 2 lots of
-market was gapping up and holding w/ potential to trade higher - lower likelihood of a gap fill in morning session given strength of market
How could I have traded this better?
-standardizing my trade management to reduce the variability of results and ensure I'm maximizing profit potential
Gain/loss relative to expected gain/loss:
-gain better than expected based on how much of the move I captured
- adequately captured move if PnL is greater than or equal to (high - low / 2 * lot size) - from SMB video but based on memory, confirm this is accurate
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-08-16 09:45:40 | AUG23 19 157.5 PUT | buy | $2.580 | long |
2019-08-16 09:47:09 | AUG23 19 157.5 PUT | sell | $2.820 | long |
2019-08-16 09:58:25 | AUG23 19 157.5 PUT | sell | $3.120 | long |
2019-08-16 10:05:16 | AUG23 19 157.5 PUT | sell | $3.300 | long |
2019-08-16 10:08:32 | AUG23 19 157.5 PUT | sell | $3.580 | long |
2019-08-16 10:10:23 | AUG23 19 157.5 PUT | sell | $3.620 | long |
2019-08-16 10:13:32 | AUG23 19 157.5 PUT | sell | $3.520 | long |
2019-08-16 10:15:17 | AUG23 19 157.5 PUT | sell | $3.070 | 0 |
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