Shared by
JC_A
Decision Quality:
Great entry for a BPB PVAH at the bottom of a wick. I think the fact that we had a couple of counters in close proximity showed that the push down was slowing. VWAP was flat, so was near the bottom of the 'range'. Delta was right on the zero, so likely it would positive and therefore helpful protection for the PVAH to hold.
Exits
1) A+ Good decision to exit first at VWAP and pit open price.
2) B+ In between 1st exit and ATH
3) B- Had to leave the desk - so rather than hold (I'd already banked $650) I closed out, but I should have taken the risk and held on for my target at ATH. Left about $250 on the table.
Reasoning - Psych - I had to leave the desk until at 18:30 until 2000. As i'd taken a 400 loss on CLE, this fact had coloured my reasoning as I thought I should bank $1000 now rather than risk just banking $500 if I got stopped on 3rd.
S&P likes to push new ATHs so a high probability it would re-test ATH (it did this and went further overnight)
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-01-09 12:44:23 | ESH0 | buy | $3264.50 | long |
| 2020-01-09 12:44:23 | ESH0 | buy | $3264.50 | long |
| 2020-01-09 12:44:23 | ESH0 | buy | $3264.50 | long |
| 2020-01-09 13:42:00 | ESH0 | sell | $3270.50 | long |
| 2020-01-09 14:00:29 | ESH0 | sell | $3272.00 | long |
| 2020-01-09 14:08:18 | ESH0 | sell | $3271.75 | 0 |
Comments
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Love this trade. LOVE IT!