Daily Report Card: B+
-morning prep: C
-market prep: A
-stock prep: A
-level of focus: A
Rationale:
-AAPL was NOT gapping, but was holding above key level
-Coined teardrop chart pattern for when stocks fail to hold above VWAP and consolidate under or retest from the underside
-identified chart pattern in real-time and entered short
-Big picture: market was concerned about official impeachment inquiry - had potential to put market in play
How much risk should/did I take?
-2,050 / 15% of NLV, appropriate given opportunity
-stay under 15% of NLV until I have A+ setup, or market is strong or weak enough to warrant increased exposure
Recap:
-not quite a teardrop chart pattern as there wasn't really a frontside move (higher highs/higher lows) in AAPL before price broke below VWAP
-easier trade may have been to catch the reversal against intraday resistance at $217
What did I do well?
-progressively locked in gains, as price made a confirming move or price stalled after dropping
How could I have traded this better?
-better identifying target price before I put the trade on
What did the tape look like during the most important moments intraday?
-9:42: after price rolled over VWAP, there was a constant wall of offers appearing in between the moments of consolidations/retracements
-10:02: clear change in character on the tape, saw long wall of bidders twice and then a 10k bid as price quickly moved higher
Gain/loss relative to expected gain/loss:
+21% gain; in line with expectations
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-09-25 09:40:06 | OCT04 19 215 PUT | buy | $2.050 | long |
2019-09-25 09:50:52 | OCT04 19 215 PUT | sell | $2.460 | long |
2019-09-25 09:54:25 | OCT04 19 215 PUT | sell | $2.410 | long |
2019-09-25 09:56:16 | OCT04 19 215 PUT | sell | $2.470 | long |
2019-09-25 09:57:06 | OCT04 19 215 PUT | sell | $2.430 | long |
2019-09-25 10:00:04 | OCT04 19 215 PUT | sell | $2.440 | long |
2019-09-25 10:01:47 | OCT04 19 215 PUT | sell | $2.730 | long |
2019-09-25 10:03:43 | OCT04 19 215 PUT | sell | $2.580 | 0 |
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