Big Picture
- SPY in 282-294 range since beginning of August
- Market very nervous about China trade war, election and current overall health of economy
Markets Intraday
- SPY trading at top of range, from 293 to 293.5
- Morning: SPY slowly trending down, straddling below VWAP
- Bottomed at 292.3 and trended higher back towards high of range
Technical Analysis – Long Term
- Been in down trend since early 2018 (almost 2 years)
- Price breaking out of 44-45 area, heading back towards 200-day SMA
Technical Analysis – Intraday
- Strong OD from 44 to 45
- Consolidated all day in a 40c range from 44.70 to 45.10
Original Plan
Long on OD bounce from 44 (opened below – this plan didn’t take effect)
Long when breaking and holding above 45 resistance
Execution Notes
I set a Buy-stop order for 45.09 and it got triggered when I was out to lunch.
Grade Questions
Did I follow my plan? (yes/no/with mods): yes but with mods
Which modifications?: I didn’t wait for a hold of 45 and simply put a buy stop order
What justified the modifications?: Lunch break
Did you hold a core position until you noticed a reason to sell?: still holding overnight
Were your executions goods? yes
Grade: B
(1=D, 2=C, 3=B, 4=A)
DAY 2
Technical Analysis – Intraday
- Consolidated near HOD all day yesterday
- Gapped up this morning, opened with weak OD
Original Plan
- Held position overnight.
- Sell half if OD is weak and hold other half for end of day trend.
- Sell entire position on strong OD (full ATR up)
Execution Notes
The OD had strength at first but then quickly sold off back below 46. I accidentally sold my entire position when I noticed the weakness of the OD(was only supposed to sell half according to plan). I got out at 46.25.
Grade Questions
Did I follow my plan? (yes/no/with mods): yes, but with mods
Which modifications?: Accidentally sold entire position when only half was meant to be sold
What justified the modifications?: not justified, accident (I fixed my sizing issues)
Did you hold a core position until you noticed a reason to sell?: yes
Were your executions goods? yes
Grade: C
(1=D, 2=C, 3=B, 4=A)
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-09-04 11:23:46 | WB | buy | $45.090 | long |
2019-09-05 09:32:05 | WB | sell | $46.250 | 0 |
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