Trade Planning:
- Daily Chart: Uptrend, Consolidation below recent ATH.
- TTM Squeeze:
- Earnings Date: 1/23-
Reason For Entry:
- CMS is consolidation below recent ATH. Alert triggered in my buy zone and entered the trade at a 1/4 position size. Small position. TTM on daily. Bought later dated Calls and will be patient with this trade unless price closes below my stopping zone.
- 11/4 added another 1/5 to my position as price retraced. Now in 2/5 position. I will close the trade if price closes below the low of today.
- 11/7 added again to the trade even lower.
Reason For Exit:
- The trade was no longer valid. (Broken trend along with TTM firing short).
Recap:
- Nice entry and second add to the position on 11/4. On 11/5 the TTM fired short and I should have closed my position at that point. This trade was managed very poorly.
This was my biggest loss as I added to the trade again 2 days after the trend was broken and TTM fired short. Will learn from this mistake.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-10-28 10:47:28 | 20 DEC 19 65 CALL | buy | $0.7000 | long |
2019-11-04 09:44:40 | 20 DEC 19 65 CALL | buy | $0.6500 | long |
2019-11-07 10:41:00 | 20 DEC 19 65 CALL | buy | $0.1800 | long |
2019-11-07 10:41:00 | 20 DEC 19 65 CALL | buy | $0.1800 | long |
2019-11-08 12:18:33 | 20 DEC 19 65 CALL | sell | $0.1000 | long |
2019-11-08 12:18:33 | 20 DEC 19 65 CALL | sell | $0.1000 | 0 |
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