[IN PROCESS - STILL NEED TO DO CHART/TAPE REVIEW]
Daily Report Card: C
-morning prep: D
-market prep: A
-stock prep: B
-level of focus: B (was able to put on headphones and block distractions)
Rationale:
-FB gapping down -0.80% on no real news (slight headline that cited FB was facing a fresh probe from the Justice Dept)
-short bias based off how it traded on the open plus the market/sector supportive of short bias
How much risk should/did I take?
-2,040 (14% of NLV)
-appropriate level of risk but I was not comfortable with the potential loss based on this level of risk
-likely the reason I stopped out of position early; this could have been a nice winner otherwise
Recap:
What did I do well?
-take off some risk as position went against me and it looked like the market would turn higher
-stay very focused on the tape during the trade
-anticipate chart pattern in real-time
How could I have traded this better?
-be more patient and allow trade to work within my risk plan, have to be comfortable with taking the full loss or it is necessary to size down
What did the tape look like during the most important moments intraday?
Gain/loss relative to expected gain/loss:
(5.5)% ROC; loss smaller than expected, as I took the trade off early, even though my bias had not been proved incorrect
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-09-26 09:49:49 | OCT04 19 177.5 PUT | buy | $2.040 | long |
2019-09-26 10:05:10 | OCT04 19 177.5 PUT | sell | $1.920 | long |
2019-09-26 10:05:10 | OCT04 19 177.5 PUT | sell | $1.920 | long |
2019-09-26 10:05:10 | OCT04 19 177.5 PUT | sell | $1.920 | long |
2019-09-26 10:14:24 | OCT04 19 177.5 PUT | sell | $1.940 | long |
2019-09-26 10:14:24 | OCT04 19 177.5 PUT | sell | $1.940 | 0 |
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